Digital Asset Investor (DAI), a familiar voice in the XRP community, recently discussed XRP’s current market position and multiple bullish developments.
He highlighted all this in a recent video commentary, calling attention to what he called the “XRP Math.” In a section of his presentation, the market commentator mentioned the launch of the Rex Osprey XRP ETF. Specifically, the fund opened at $25.82 and marked a milestone in institutional recognition of XRP.
XRP ETF Delivers on First Day
The Rex Osprey product saw a volume of $37.7 million, the largest natural volume for any ETF launch in 2025. Notably, this is according to Bloomberg’s James Seyffart. This institutional recognition could have a massive impact on the XRP price. Interestingly, the U.S. SEC will also rule on multiple products next month.
$XRPR traded $37.7m on Day One, which edges out $IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon.. pic.twitter.com/JaQP9ekFIq
— Eric Balchunas (@EricBalchunas) September 18, 2025
Amid the anticipation, DAI highlighted figures from Julio Moreno, head of research at CryptoQuant. Moreno estimated that in the first year, ETFs might absorb between 1% and 4% of XRP’s circulating supply. This works out to between 600 million and 2.4 billion tokens.
The XRP Math
Following this, DAI then called attention to XRP’s recent price action during a broader market move. Specifically, when the crypto market cap rose by $0.08 trillion, XRP climbed by $0.24, moving from $2.75 to $2.99. He used this example to show how XRP reacts to overall market liquidity, calling it the “XRP Math.”
Building on this, we assessed what might happen if $10 trillion poured into the crypto market. Since $10 trillion equals about 125 times the earlier $0.08 trillion increase, the same ratio suggests XRP could add another $30 on top of its current price. This would push XRP to around $33, giving it a market cap near $1.98 trillion.
At such a level, XRP would hold about 14% of the total market, a sharp jump from its current 4.52% dominance but still below its past highs of 18% in January 2018 and 31% in May 2017.
Meanwhile, if the crypto market reached $14 trillion and XRP simply kept its present 4.52% market share, its value would land at about $10.54 amid a $632 billion market cap. Even under this scenario, XRP would see notable growth without needing to gain dominance.
DAI Discusses XRP Market Position
Notably, in the earlier part of his commentary, DAI warned that the urge to lend or borrow against XRP could backfire in today’s still-developing market. To him, institutions are just beginning to arrive, and the market needs more time to mature. For now, he said the smartest move is to hold XRP securely and stick to a clear exit strategy.
He also noted that XRP was already trending across the crypto scene due to major developments, including the SEC approval of Grayscale’s multi-asset fund featuring XRP, the launch of the Rex Osprey XRP ETF, and CME Group‘s announcement to introduce XRP futures options.
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