Community Trust ScoreVerified
U.S. spot XRP ETFs quietly raked in $11.31 million the week of October 5 through October 9. XRP’s price was falling the whole time.
Why It Matters
The influx of $11.31 million into XRP ETFs amid a declining price trend suggests a growing confidence among investors in the long-term potential of XRP, despite short-term volatility. This behavior contrasts sharply with the broader market, where Bitcoin funds experienced significant outflows, indicating a potential shift in sentiment or strategy among crypto investors looking for opportunities in less mainstream assets. Examining these trends could provide insight into market dynamics and investor risk appetite as regulatory developments and market conditions continue to evolve.
The token opened the week near $1.52, slid hard on October 8 to a low of $1.32, then closed Friday at $1.40 — a 7.3% drop across five trading days. And yet the money kept coming into the ETFs. That’s the weird part. Usually you’d expect outflows when a token gets hit that badly. Not here. XRP was basically the only major crypto category to post net inflows that week. Bitcoin funds? Down $681 million in outflows. Ether and Solana funds didn’t fare much better. XRP stood alone.
Bitwise Carrying the Weight
The headline number flatters the overall picture a bit. Dig into the fund-by-fund breakdown and the story gets more concentrated. Bitwise drove $10.55 million of that $11.31 million total — pretty much single-handedly. Franklin Templeton’s XRPZ added $4.10 million, which sounds decent until you notice that Canary Capital’s XRPC bled $3.34 million in outflows during the same stretch. Strip Bitwise out entirely and the remaining funds collectively brought in roughly $760,000. That’s not nothing, but it’s not a broad-based rally either.
So what you’ve got is one fund doing the heavy lifting while the rest of the field either underperforms or actively drains. Whether that’s a problem depends on your read of the market. Optimists say Bitwise is smart money leading the way. Skeptics say it’s a single-point-of-failure story, and if Bitwise pulls back for any reason, the whole inflow narrative collapses fast.
Support Levels and the $230 Million Gap
XRP’s price chart right now is basically a battle between two zones. The $1.32-$1.38 range is the support floor that bulls need to hold. The token already touched $1.32 once this week — that’s not comfortable. A clean break below that level would probably invite more technical selling, and the ETF inflows alone seem unlikely to stop it. Positive fund flows suggest some investors are buying the dip, but dip-buying and a durable price floor are two different things.
On the upside, $1.50-$1.56 is the resistance band traders are watching. XRP needs to reclaim that range to even start talking about a trend reversal. Right now it’s sitting at $1.40, which is squarely in no-man’s land — below resistance, uncomfortably close to support.
The ETF net asset picture adds another layer. Total net assets across XRP ETFs sit at roughly $1.57 billion. Cumulative inflows since launch are around $1.8 billion. That gap — call it $230 million — is a rough mark-to-market indicator of how much the funds are underwater relative to what investors put in. Inflows are still coming, but they haven’t been enough to close that gap. The math isn’t brutal, but it’s not clean either.
Evernorth Enters the Market
On October 12, Evernorth’s new XRPN fund started trading on Nasdaq. It holds 473 million XRP. That’s a significant stash, and it gives investors another regulated vehicle for XRP exposure. But its actual impact on spot market demand or price? Unclear. It’s day one. The fund could attract fresh institutional money that shifts the demand picture meaningfully, or it could sit quietly while the existing ETFs continue to dominate the flows conversation. No one really knows yet.
What Evernorth’s launch does do is widen the competitive field. More issuers chasing the same investor base can cut both ways — it could broaden participation, or it could fragment inflows further and make Bitwise’s dominance look even more extreme by comparison.
The broader context here matters too. XRP ETFs launching into a market where bitcoin funds are hemorrhaging $681 million in a single week is a strange environment. It’s not clear whether XRP’s inflow resilience reflects genuine conviction in the asset or just relative rotation out of other crypto exposures. Probably some of both.
What’s certain is that the $1.32 low from October 8 is now a line in the sand. Traders will watch it closely. ETF net assets at $1.57 billion give the funds some weight in the market, but they’re not a price stabilizer by design. Bitwise’s $10.55 million contribution remains the dominant fact of the week.
Hub: XRP price, news, and analysis
Frequently Asked Questions
How much did Bitwise contribute to XRP ETF inflows during the week of October 5-9?
Bitwise contributed $10.55 million of the total $11.31 million in XRP ETF inflows that week, making it by far the largest single contributor.
What is the critical support level for XRP’s price right now?
The $1.32-$1.38 range is the key support zone; XRP already touched $1.32 on October 8, and a break below that level could trigger further technical selling pressure.
