The ProShares Ultra XRP ETF (UXRP), which seeks to deliver twice the daily performance of the Bloomberg XRP Index, has plunged more than 94% since its debut in July 2025. As of early August 2026, the fund is trading near $10.30, down roughly 95.5% from its 52-week peak of $231.20. XRP is on the cusp of collapsing below $1. Spot XRP ETFs have also struggled in 2026, with all leading products posting year-to-date losses exceeding 40%. The Bitwise XRP ETF manages approximately $304 million in assets after falling roughly 43.2% year-to-date, while Canary Capital’s XRPC, with nearly $248.9 million in assets, has lost about 40.4%.
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