U.S. XRP exchange-traded funds have accumulated roughly 1.16 billion tokens since the first such product launched a year ago, according to the source material. That holding is equivalent to about $1.15 billion, or approximately 1.77% of XRP's market capitalization.
Cumulative total net inflows stood at $1.79 billion at press time. The gap between the value of assets held and total inflows was attributed to the price decline over the past few weeks.
Institutions Behind the Accumulation
The source identified Bitwise, Franklin Templeton, Canary Capital, 21Shares, Grayscale and REX-Osprey as the major institutions leading XRP accumulation. The overall picture suggested the circulating supply is being absorbed on a larger scale, although $1.09 million in capital left as markets closed for the weekend.
Coinbase Buying Turns Positive
Institutional buying coincided with heavy selling on the charts. XRP fell 40% to $0.99 and lost the $1 psychological level, yet U.S. investors appeared to be returning.
- Net buying on Coinbase turned positive over two consecutive days.
- Hourly charts showed more than 4 million XRP being longed by U.S. investors after a period of heavy selling.
- The metric remained negative on Binance and OKX, though trading near neutral. Figures on both exchanges briefly rose above neutral before retracing.
The source read the shift as a sign that trader activity was slowly changing with the dip below $1.
Technical Signals and Key Levels
Indicators began showing signs that the 40% correction from $1.66 to $0.99 may be ending:
- The TD Sequential printed a buy signal on the daily charts after two months of decline.
- Daily trading volume showed about 2.09 million tokens bought at press time.
- The Stochastic RSI bounced from oversold territory to 41.64, pointing to returning buying pressure on smaller timeframes.
XRP nonetheless remained well below its 200-day simple moving average at $1.26, a reading the source said indicates the larger trend may be bear-controlled. On the upside, reclaiming $1 would open the way toward $1.15 and $1.26. On the downside, losing the $0.98-$0.99 area could expose $0.80 or lower. The source added that the ongoing correction is likely to continue unless a clear market structure flip occurs.
Summary
- XRP ETFs absorbed more than 1.16 billion tokens from the circulating supply, pointing to institutional demand.
- XRP was trading at $0.99 as Coinbase investors returned to buying following heavy selling over the past two months.
