Ripple (XRP) ETFs Turn One: The Good, the Bad, and the Ugly - Canary Capital XRPC ETF launched a year ago, initially attracting significant investments of over 1.1 billion in its first two months, but since then there has been a decline in net flows. Despite the completion of over 1 billion XRP tokens, this represents less than 1.6% of the total circulating supply, and ETFs have not significantly impacted XRP price stability. The price of XRP fell from a high of 3.65 in July 2025 to 0.90 a year later, reflecting a 60% decline despite the introduction of institutional products such as ETFs.