$XRP's ProShares Ultra ETF Plummets Over 94% Since Launch

The ProShares Ultra $XRP ETF (UXRP) has taken a sharp hit since its debut in July 2025, plummeting over 94% to around $10.30 as of early August 2026.

Although UXRP is designed to amplify the daily price movements of the Bloomberg $XRP Index by a factor of two, its long-term returns can diverge dramatically from the underlying asset due to volatility drag or beta slippage.

This phenomenon causes leveraged ETFs like UXRP to lose value in choppy markets, making them unsuitable for long-term investments.