XRP Price Falls Below $2 But XRPI and XRPR ETFs Keep Absorbing $1.28B Inflows

Ripple XRP And XRP ETFs: Price Breaks Below $2 While Flows Stay Relentless

Spot XRP-USD Slips From $2.40 To ~$1.90 As Market De-Risks

XRP-USD has rolled over from the early-January peak near $2.40 (Jan 6) to an intraday low around $1.90, breaking the psychological $2.00 handle after roughly six straight red days. The drawdown is about 18–19% from the local high, broadly in line with a wider crypto pullback: BTC-USD is trading near $93,000 and ETH-USD around $3,200, both down several percent over the last 24 hours. The driver is not an XRP-specific failure but a macro shock – renewed US–EU tariff threats tied to Greenland – triggering a classic risk-off move across high-beta assets.

Derivatives And Liquidations: Leverage Flush Behind XRP-USD Drawdown

Under the surface, the pressure is clearly leverage-driven. Over roughly 24 hours, the crypto complex saw about $824–875 million in liquidations, of which roughly $764–789 million were long positions. XRP accounted for roughly $39–40 million of long liquidations – its heaviest long wipeout since late November 2025 – as the price sliced through the $2.05–$2.00 congestion area and forced out late buyers. Open interest in XRP derivatives dropped from a yearly high near $4.55 billion on January 6 to about $3.56–3.58 billion, a drawdown of roughly 22%, while 24-hour trading volume spiked more than 160% to around $3.6–3.7 billion. This is textbook “over-levered longs + shallow liquidity + macro headline,” not a structural collapse in demand.

On-Chain Activity: XRP Ledger Usage Hits Six-Month High

Network metrics tell a different story from the price. Transactions on the XRP Ledger surged to roughly 2.58 million in a single day last week – the highest level in about six months, matching July 2025 peaks. That scale of throughput points to robust usage of XRP for settlement and on-chain operations despite spot weakness. Heavy on-chain activity plus rising ETF ownership is exactly the combination that eventually creates a supply squeeze; what is missing right now is time and sustained net accumulation rather than fast money leverage.

XRPI ETF: NASDAQ XRP Exposure With Strong Liquidity

The XRP ETF (NASDAQ:XRPI) is tracking the token closely while giving institutions a regulated wrapper. On January 16, XRPI closed at $11.99, up 0.84% on the day, after trading between $11.70 and $12.04. The fund sits well above its 52-week low at $10.44 but still far under the high at $23.53, mirroring spot XRP’s halving from the cycle top while offering smoother execution and daily liquidity. Average volume stands near 528K shares, which is adequate for mid-sized institutional tickets without excessive slippage. At current levels, XRPI is effectively a geared play on whether XRP-USD can hold the $1.80–$1.90 support band and retest the $2.40 region.

XRPR ETF: REX Osprey XRP Exposure At Higher Price Point

The REX Osprey XRP ETF (BATS:XRPR) trades at a higher unit price but on thinner volume. The fund last closed around $17.08, up 1.18% on the session, within a day range of $16.65–$17.08, against a 52-week range of $14.79–$25.99. Average volume is roughly 13.9K shares, so larger orders need more careful execution. Structurally, XRPR is doing the same job as XRPI – giving regulated exposure to XRP – but liquidity and depth clearly favor XRPI for active traders and larger mandates, while XRPR is more suited to slower “buy and park” capital that doesn’t need to move in size intraday.

Bitwise XRP ETF: Higher Ticket Size, Growing AUM

The Bitwise XRP ETF (NYSE Arca: XRP) adds another liquid US-listed vehicle to the complex. It last closed at $23.32, up 0.95% on the day, after trading between $22.68 and $23.32. The fund manages about $238.5 million in net assets, with average daily volume near 533K shares and a reported NAV around $23.08. The higher nominal price per share makes it a cleaner fit for institutions that prefer larger ticket units and reduces odd-lot noise in the order book. Inflows have been solid: Bitwise’s product has accumulated roughly $310 million since launch, putting it in the same asset-size zip code as some of the earlier entrants.

Cumulative XRP ETF Flows: $1.28 Billion In, $1.52 Billion+ In Assets

Across the US spot XRP ETF lineup – including vehicles from Bitwise, Grayscale, Franklin Templeton and others – cumulative net inflows have reached roughly $1.28 billion since mid-November launch, with total assets now above $1.52 billion. Daily flows remain positive despite the recent drawdown: the complex added about $1.12 million on Friday alone. Grayscale’s GXRP has drawn roughly $287–291 million and Bitwise’s ETF sits near the $291 million mark as well, reflecting steady institutional and advisor adoption rather than a one-day hype spike. Year-to-date, spot XRP ETFs have taken in more than $108 million, a respectable number given the volatility and macro noise.

Digital Asset Fund Flows: XRP Holds Its Own Beside BTC, ETH And SOL

In the broader digital asset fund universe, XRP is a meaningful – though not dominant – part of the flow picture. Last week, crypto investment products saw about $2.17 billion of net inflows, the strongest weekly haul since October 2025. Roughly $1.55 billion went into Bitcoin products, $496 million into Ether and about $45.5 million into Solana. XRP-linked products attracted about $69.5 million, which is modest relative to BTC and ETH but significant when you consider the shorter track record of XRP vehicles and their more limited listing footprint. Blockchain-related equities added another $72.6 million of inflows, confirming that investors are still comfortable expressing the theme through listed stocks as well as tokens and ETFs.

BTC And ETH ETFs: Context For XRP ETF Behavior

US spot Bitcoin and Ether ETFs frame the context for how XRP vehicles could scale. In the latest week, US-listed spot BTC ETFs recorded about $1.42 billion in net inflows, their largest uptake since early October. BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) alone absorbed roughly $1.03 billion and now trades around $54.24, with a 52-week range of $42.98–$71.82 and average volume above 52 million shares. Ether ETFs added about $479 million, with BlackRock’s ETHA pulling in $219 million. Since the start of the year, BTC and ETH products have attracted around $1.21 billion and $585 million respectively. That scale shows what is possible if XRP continues to gain regulatory clarity and exchange coverage: the ETF channel can become a structural buyer, not just a tactical trade.

Macro Backdrop: Tariffs, Trade War Risk And UK Growth Shock Weigh On XRP-USD

The timing of the XRP break below $2.00 is tightly linked to a macro shock rather than token-specific news. US President Trump has threatened a 10% tariff from February 1 on goods from eight European countries – including the UK, France, Germany, the Netherlands, Denmark, Sweden, Finland and Norway – rising to 25% from June 1 unless Washington is allowed to buy Greenland. The EU is lining up a response worth up to €93 billion in tariffs or market-access restrictions. UK-focused analysis suggests the total tariff impact could reach about £22 billion, raising the risk of a technical recession. Against this backdrop, risk assets sold off: BTC briefly faded from $97,000 to the $92,000–$93,000 zone, ETH slipped toward $3,000, and XRP-USD gave up the $2.05–$2.00 range as leveraged bets unwound. Macro is currently dictating tape action more than any single XRP headline.

Technical Structure: Multi-Year XRP-USD Breakout, Support Zones And Targets

Technically, XRP-USD is still riding a higher-timeframe bullish structure despite the near-term drawdown. The token completed a multi-year descending wedge between 2020–2024, broke out around $0.60, and then exploded roughly 600% higher into the $2.40 region. Current price action between about $1.90 and $1.30 lines up with a fair-value gap and accumulation zone. The key supports now are:
– Short-term: the $1.96–$1.90 block, where roughly 1.78 billion XRP changed hands over the last six months
– Structural: the $1.80–$1.78 shelf, plus the October 10 low around $1.61
– Long-term line in the sand: the 200-week EMA around $1.40–$1.41 and the broader accumulation floor near $1.30
As long as XRP-USD holds above roughly $1.30, the higher-timeframe breakout thesis remains intact. Above, the upside grid that technical analysts are watching runs through $3.50, $5.00, $8.70 and $10.00, with more aggressive institutional scenarios – including a $12.50 target by around 2028 – assuming both sustained ETF inflows in the $4–8 billion range and a scenario where XRP narrows the market-cap gap to ETH. Those upper numbers are not guaranteed, but they outline the convexity if the current structure holds.

Medium-Term Scenarios For XRP-USD, XRPI And XRPR In 2026

For 2026 you effectively have three main regimes. In a base case, tariffs create volatility but not a global recession, ETF inflows into XRP stay positive, and XRP-USD bases between roughly $1.60–$2.40 before probing $3.00–$3.50 later in the year. Under that path, XRPI oscillates roughly in a $10.50–$15.00 corridor and XRPR in a $16–$22 band, with total ETF assets grinding higher from the current $1.52 billion+. In a bullish case, macro risk recedes, digital asset inflows remain above $2 billion a week on a multi-week basis, and XRP convincingly reclaims $2.40, opening the door to $3.50–$5.00. That would pull XRPI toward the mid-teens and XRPR toward the mid- to high-20s in a strong tape, especially if ETF inflows accelerate beyond the current $69.5 million weekly pace. In a bearish case, escalation in tariffs plus weaker global growth pushes crypto into a deeper drawdown, XRP-USD loses $1.61 and then tests the $1.40–$1.30 area. That would likely drag XRPI back toward the low teens or even high single digits and compress AUM across the ETF complex.

Risk Profile For XRP And XRP ETFs: Flows, Structure And Liquidity

The main risks for XRP and its ETFs line up across three axes. First, flow risk: ETF inflows have been consistent so far, but they are not guaranteed. A sustained reversal – multiple weeks of net outflows rather than the odd $40 million down day – would flip the ETF channel from a structural buyer to a structural seller. Second, macro and regulatory risk: tariffs, growth scares and any new regulatory interventions around stablecoins or crypto ETFs can dampen risk appetite quickly, as the current drawdown shows. Third, liquidity and positioning risk: high notional open interest (above $3.5 billion) alongside thin weekend liquidity leaves XRP-USD vulnerable to sharp, liquidation-led air pockets. For ETFs themselves, liquidity is clearly split; XRPI and Bitwise’s XRP are liquid enough for active strategies, but XRPR and some smaller products require more disciplined execution.

Final View: XRPI And XRPR Look Bullish-On-Weakness, With High-Volatility Buy Bias

Taking all the data together – the break below $2.00, the roughly 18–19% pullback from $2.40, the $1.28 billion of cumulative ETF inflows, more than $1.52 billion in XRP ETF assets, six-month-high ledger activity, and a still-intact multi-year breakout above $1.30 – the bias remains bullish on weakness rather than structurally bearish. The current move is a leverage flush in a macro shock, not a demand collapse. For a professional, high-risk tolerance profile, that points to a Buy stance on XRPI and XRPR on pullbacks into support, with the clear understanding that volatility is extreme, macro risk is elevated, and a break below roughly $1.30 on XRP-USD would invalidate the current higher-timeframe bullish structure and force a reassessment.

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