XRP ETFs Surge Past Token Gains Amid Liquidity Mismatch

US-based XRP exchange-traded funds (ETFs) have seen significant gains, outperforming the XRP token itself. During a $27.2 million trading session, these ETFs rose by 16-17%, compared to the XRP token's 7-8% gain.

This abnormal price gap is attributed to a liquidity mismatch in US order books, causing some ETFs with lower assets to trade at a premium to their net asset value. This phenomenon highlights an issue where derivative products may increasingly influence short-term price moves more than the underlying token itself.