Canary Capital’s spot XRP ETF (XRPC) officially launched yesterday and it is already the biggest ETF debut of the year. The product surpassed $BSOL’s previous record, posting more than $59 million in first-day trading volume, according to analysts tracking the launch.
Speaking after the milestone, Canary Capital Founder and CEO Steven McClurg discussed what the XRP ETF means for investors, how demand may evolve, and what realistic long-term price targets look like.
In an interview with Crypto Prime, McClurg explained that XRP is not like Bitcoin or Ethereum. Instead, the XRP Ledger is a payments-focused network designed as a financial rail for fast, low-cost value transfer.
He explained that the technology was built to solve real-world remittance problems, including high fees charged by banks and services like Western Union. In many countries, workers sending money home face fees between 8% and 15%, which McClurg described as a “global tax on the working class.”
The XRP Ledger, he said, offers near-instant settlement and much cheaper transfers, making it a strong candidate for global payment infrastructure.
When asked about price projections circulating in the community, including predictions of $1,000 or even $10,000 per XRP, McClurg issued a warning, calling those extreme values “very high numbers.”
XRP reaching Bitcoin’s current market cap of around $2 trillion would imply a price near $35, but such a move would require enormous global adoption.
However, he was clear that $10 is not unrealistic.
“Given XRP’s current ecosystem and its role in global payments, I don’t think $10 is unrealistic at all. That is something achievable in the next three to four years,” McClurg said. ”
With XRPC posting record-breaking volume and beating all other ETF launches of 2024, analysts say demand is already exceeding expectations. McClurg says the ETF structure will help mainstream investors understand XRP’s real-world utility and potentially accelerate adoption.
As more institutions gain exposure to XRP through regulated products, he expects interest and liquidity to steadily increase.
For now, the community is celebrating both the successful ETF debut and McClurg’s confirmation that double-digit XRP is a realistic possibility, not a fantasy.
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