XRP ETFs have recorded seven straight weeks of net inflows, a sign of continued institutional demand, yet the token’s spot price has failed to follow. The disconnect between ETF capital flows and spot performance reflects concentrated selling, weak retail interest and broader market headwinds.
Data from recent reports show ETFs continue to attract capital — one note cited $43.89 million in ETF inflows even as sentiment cooled, and cumulative ETF flows rose to more than 268 million in the days after initial launches, according to market coverage.
Despite that absorption of liquidity, XRP’s price contracted by approximately 11% since mid-November. These figures indicate that inflows into regulated products have not translated into a sustained positive impulse for the spot market, undercutting the simple assumption that ETF demand automatically lifts prices.
Supply-side pressure: whale selling and market structure
Large holders have offset institutional buying by increasing sell-side activity. Reports highlighted significant whale selling, including an instance of about 200 million XRP moved to market within 48 hours of an ETF launch. That volume, combined with a structural pattern of lower highs and lower lows on price charts, suggests available supply has repeatedly outpaced new spot demand. Declining retail confidence has compounded the issue, leaving ETF accumulation insufficient to overcome concentrated profit-taking.
Broader market weakness and a risk-off environment have reduced the probability that asset-specific catalysts will dominate price action. Observers also note a slowdown in derivatives activity — declining Open Interest — which denotes lower speculative engagement in futures and options and removes an additional source of buying pressure.
Open Interest is the total number of outstanding derivative contracts that have not been settled; falling Open Interest signals reduced leverage and speculative conviction.
Analysts cited in the coverage say the full, lasting effect of institutional investments may be delayed, with some expecting a more pronounced impact only by 2026 as institutions accumulate strategically rather than chase short-term rallies.
