XRP ETF Inflows Return as XRPI, XRPR and Bitwise Track XRP-USD at $1.92 with $1.38B AUM

XRP ETF Complex (XRPI, XRPR, Bitwise XRP) – Flows, Structure And Trade Setup

Price Picture: XRPI, XRPR, Bitwise XRP Versus Spot XRP-USD

XRPI on NASDAQ trades around $11.03, inside a tight $10.92–$11.09 day range, against a 1-year band of $10.44–$23.53 on average volume near 533k shares. That puts the fund just above its floor and still more than 50% below the high, so the equity risk is skewed to whether ETFs rebuild conviction rather than price discovery from extremes.
XRPR on BATS changes hands near $15.65, with intraday prints between $15.65–$15.78, versus a 52-week window of $14.79–$25.99 and thin liquidity around 12k shares per day. XRPR is a higher-beta, lower-liquidity wrapper on the same XRP-USD risk; any renewed volatility in the token will move this line faster, in both directions.
The Bitwise XRP ETF on NYSE Arca trades around $21.53, daily range $21.33–$21.58, one-year band $20.00–$26.90, with volume roughly 82k shares. Bitwise runs the largest XRP vehicle in the traditional space, carrying a significant slice of the nearly $1.0–1.4B XRP ETF asset pool.
Underneath all of this, spot XRP-USD sits near $1.90–$1.92, having spent more than a year inside a $2.00–$3.66 consolidation corridor and still about 48% below its July high around $3.60–$3.66. Price trades below the 20-day and 50-day moving averages, both clustered just under $2.00, which keeps the short-term setup technically heavy even as the ETF layer is stabilising.

Flows: From $53.32M Capitulation To ~$9.16M Daily Net Inflows

XRP ETF flows show positioning stress followed by controlled re-risking. On 20 January, spot XRP ETFs recorded a single-day net outflow of about $53.32M, the largest redemption since launch. That event hit after weeks of steady inflows and at a point when XRP-USD was already trending lower from the $3+ region.
Post-capitulation, flows turned positive. Latest reads show daily net inflows back around $9.16M, while aggregate XRP ETF assets remain near $1.38B, comfortably above November levels. The January flush looks like weak-hand de-risking, not a structural exit. The fact that the complex absorbed a $53M redemption and then reverted to positive flows without an AUM collapse is the key institutional signal.

ETF AUM, Locked Supply And Structural Support For XRP-USD

Across all XRP ETF vehicles, AUM now clusters between $1.0–1.4B depending on the data cut, with Bitwise and other US issuers holding the bulk of listed exposure. One dataset notes nearly 478M XRP locked in ETF vaults, about 0.47% of the total 100B token supply. That mechanic is simple but important: every unit of demand captured in XRPI, XRPR or the Bitwise fund is spot supply removed from the open market as long as units stay outstanding.
With XRP ETFs pulling in roughly $1.3B since launch and recording only two net-selling days over the early life of the products, the ETF layer behaves like a slow but persistent absorption mechanism. That does not guarantee upside, but it reduces free-float elasticity on the downside. If flows stay mildly positive, the $1.80–$2.00 zone in XRP-USD should continue acting as a liquidity shelf rather than a trapdoor.

Comparing XRP ETFs To Bitcoin And Ethereum ETF Flows

The XRP ETF complex now trades against a very different backdrop than the one facing Bitcoin and Ethereum. US spot Bitcoin ETFs saw cumulative net inflows peak around $72.6B by 10 October 2025, only to give back roughly $6.1B in outflows, leaving about $66.5B in net capital and an 8.4% drawdown from the high. On one highlighted day, US Bitcoin ETFs posted net outflows of roughly $146–147M, with IBIT alone shedding about $101–103M and FBTC losing around $44–45M. Another data point shows a $146.05M net outflow wiping out the prior day’s inflows entirely.
Ethereum ETFs mirror that softening demand: one snapshot shows about $63.6M of net outflows in a single session, and another day records nearly $117M of net inflows only after several consecutive outflow days.
Set against that, XRP vehicles are doing something different. On one cross-section, Bitcoin ETFs leaked $147.4M, Ethereum ETFs lost $63.6M, while Solana products attracted only about $1.9M and XRP ETFs pulled in roughly $4.8–9.2M depending on the source. In other words, capital is not leaving the crypto ETF space uniformly; it is rotating. The fact that XRP ETF flows are positive while the flagship BTC/ETH funds are bleeding tells you where incremental risk appetite is going at the margin.

ETF Landscape: Leveraged XRP, New Listings And Retail Access

The ETF story is no longer just about plain-vanilla spot exposure. On NYSE Arca, the first 2x leveraged XRP ETF has launched in the US market, explicitly targeting traders who want amplified exposure to XRP-USD moves. Structured leverage increases volatility, drawdown speed and liquidation risk, but it also signals that exchanges and issuers see sufficient volume to justify more exotic products.
Alongside XRPI, XRPR and the Bitwise fund, that leveraged product boosts XRP’s visibility on brokerage platforms where many investors never touch native tokens. For retail, it means you can now express a full spectrum of views — from simple spot beta through XRPI to leveraged directional bets — without leaving the securities wrapper. That pipeline of wrappers tends to deepen liquidity over time and makes it easier for institutional allocators to size XRP risk in familiar formats.

Macro And Regulatory Tailwinds: FCA Licence, Capital Raise And Treasury Build-Out

On the issuer side, Ripple has spent the last year moving from defensive litigation posture to offensive balance-sheet deployment. The company raised about $500M from names like Citadel Securities, Fortress, Pantera Capital and Galaxy Digital, explicitly to fund expansion and acquisitions.
Ripple then secured an Electronic Money Institution licence and Cryptoasset Registration from the UK FCA, placing it inside a clearer regulatory perimeter in a G7 jurisdiction. That approval improves counterparty comfort for treasurers and asset managers who were previously blocked by policy.
The acquisition of GTreasury for roughly $1B and the launch of Ripple Treasury adds an enterprise-grade cash-and-liquidity product on top of the XRP stack. The new platform promises liquidity management, reconciliation, forecasting and risk tools backed by four decades of treasury software history. If those rails start pushing corporates towards on-chain liquidity solutions that use XRP-USD as a settlement or treasury asset, the ETF layer benefits indirectly via narrative and directly if allocators express that theme via XRPI, XRPR or Bitwise’s XRP ETF.

On-Chain And Market Structure: Order Books, Volatility And Range

Despite the heavy ETF narrative, XRP-USD trading still looks like a classic range market. After tagging the $3.60–$3.66 zone in October, price has been carving lower highs and lower lows, with repeated failures near the $2.00 cap and support tests in the high $1.80s. Intraday, the token trades in the $1.90–$1.95 band, still lagging Bitcoin and Ethereum on recent percentage gains.
Order books across major venues remain deep; commentary from market participants notes “deep order books across global venues” and robust liquidity even through the January ETF outflow event. That explains why a $53.32M ETF redemption did not trigger a sharp cascade: spot liquidity is still thick enough to absorb that size without a structural dislocation.
From a technical standpoint, the next upside confirmation is a clean reclaim and hold above $2.00, which aligns with the 20-day and 50-day moving averages. Below, the critical zones are $1.86–$1.88 and then $1.80; a break under $1.80 re-opens a path towards the mid-$1.70s. For now, ETFs are reinforcing a sideways regime rather than driving a trend break.

Liquidity Expansion And XRP’s Role Among Altcoin ETFs

Zooming out to the wider altcoin ETF field, XRP is positioned as one of the main beneficiaries of expanding global liquidity. In the alt-ETF tier, Solana currently hosts about seven spot ETFs with two more pending, and individual products like Bitwise’s SOL ETF manage close to $900M in assets. Recent data show SOL ETFs posting net inflows around $1.9–3.2M in a session, measured as 25,520 SOL (~$3.24M) in some reports.
For XRP, there are already at least five spot ETFs live and several more pending approvals, with combined AUM approaching or exceeding $1B. On specific days highlighted by multiple sources, XRP ETFs led altcoin ETF inflows with about $4.8–9.2M, even as BTC and ETH products booked more than $200M in combined net outflows.
Layer on top a macro backdrop of expanding global M2 money supply, and you have a classic liquidity-rotation environment. As fiat liquidity grows, capital often leaks into higher-beta ETF exposures. Here, XRP ETF products sit alongside SOL and LINK vehicles as the main altcoin doors for regulated capital. Given the combination of strong ETF asset growth since launch, locked supply, and a still-depressed spot price, XRP screens as a high-beta liquidity receiver if macro conditions continue easing.

Sentiment, Price Targets And The 2026 Upside Case

Institutional commentary around XRP-USD has turned notably constructive. One crypto trading platform CEO points to wallet-level and exchange-inflow data showing sustained institutional participation, arguing that liquidity demand for XRP is strong even while the spot price lags. Analysts in that camp see XRP-USD trading as high as $3.40 in the next 3–6 months, essentially an ~80% move from the current $1.90–$1.95 range and a retest of the prior high zone before any attempt at new records.
Separately, ETF-specific commentary notes that XRP products have drawn about $1.3B since their November launch, outpacing both Bitcoin and Ethereum ETF growth over comparable windows, with only two net-selling days logged. That is unusual for a non-BTC, non-ETH asset and suggests that a cohort of allocators is explicitly targeting XRP exposure via ETFs as a strategic rather than purely tactical trade.
There is also a narrative tier around yield and ancillary platforms. Articles highlight XRP holders being courted by cloud-mining schemes and staking platforms that promise daily returns like $15 → $15.60 in one day or $100,000 → $205,500 over 50 days via opaque “super contracts”. From a risk perspective, that noise is a red flag rather than a positive. Serious capital will prefer regulated ETF wrappers to unregulated yield schemes, which indirectly supports the ETF route as the credible channel for XRP-linked exposure.

Risk Map: Pre-Mined Supply, ETF Concentration And Flow Reversal

The core structural risk in XRP-USD remains the pre-mined 100B token supply and the issuer’s control over large reserves. Although about 478M XRP (roughly 0.47% of supply) is locked in ETFs and a much larger pool sits in time-released escrows, there is always a non-zero risk that additional tokens hit the market faster than anticipated, especially if treasury strategy changes or regulatory pressure mounts.
ETF-specific risk is flow-driven. A $53.32M outflow has already occurred without systemic damage, but there is no guarantee that a future shock — for example, a negative court ruling or failed legislation like the much-discussed Clarity Act — will be limited to that magnitude. If net outflows accelerate toward nine-figure daily numbers for several sessions, issuers would need to sell more underlying XRP to meet redemptions, putting direct pressure on spot.
Liquidity risk is not trivial in XRPR and even in the Bitwise fund. XRPR’s 12k average daily shares translate into relatively chunky price impact for large tickets, and even 82k shares in Bitwise is modest compared with equity sector ETFs. During stress, spreads can widen, making exit costs higher than implied by calm-market data.
Finally, correlation risk remains: while XRP flows have diverged positively from BTC and ETH recently, a major macro shock that slams all risk assets will drag XRP ETF prices lower with the rest of the crypto complex.

Buy / Sell / Hold View On XRP ETFs (XRPI, XRPR, Bitwise XRP)

Putting the pieces together — price still depressed near $1.90–$1.92, ETF AUM holding around $1.3–1.4B, flows back to ~$9M daily net inflows after a $53.32M flush, roughly 478M XRP locked, five or more spot ETFs live, leveraged products launching, Ripple securing a UK FCA licence, raising $500M and rolling out Ripple Treasury, and credible institutional targets in the $3.40 zone by mid-2026 — the risk-reward on the XRP ETF complex leans bullish for investors who accept high volatility.
For that reason, I would classify XRPI, XRPR and the Bitwise XRP ETF collectively as a speculative Buy, not a core holding. Upside towards an 80% move in XRP-USD back to the $3.00–$3.40 range is plausible if ETF inflows remain positive and macro conditions stay supportive, while the main downside scenarios centre on a renewed flow shock, regulatory setbacks or aggressive token unlocks.
In simple terms: as long as flows stay positive and AUM holds above the $1B mark, the ETF layer is telling you that institutional conviction in XRP-USD is intact, and the current price zone around $11.03 for XRPI, $15.65 for XRPR and $21.53 for Bitwise’s XRP ETF looks more like an accumulation band than a late-cycle exit level — but it remains firmly in the high-risk bucket.

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