Five tracked US spot XRP ETFs held an estimated $1.7 billion, representing approximately 1.13 billion XRP, at the close of October 6, according to market data tracker Maketo. XRP traded around $1.43 on October 7, down 5.46% over the preceding 24 hours.
The ETF sector showed mixed activity during the period. Aggregate net inflows totaled $3.14 million on October 6, with weekly inflows reaching roughly $3.9 million and monthly inflows approximately $112 million. However, flows were uneven across funds: Bitwise's fund received about $11 million, while Franklin recorded roughly $4.1 million in outflows and Canary lost about $3.3 million. Grayscale and 21Shares showed flat activity.
Exchange Wallet Movements Complicated by Storage Changes
Exchange-based XRP holdings presented a more complex picture. Ledger data tracked 21.98 billion XRP across 699 publicly attributed wallets at 24 exchanges as of October 7 at 08:00 UTC. Over seven days, this total declined by 26.5 million XRP, or 0.13%, with Binance-attributed balances falling by 33 million XRP while Upbit's rose by 11.5 million.
The monthly view showed a more dramatic 1.63 billion XRP decline; however, this largely reflected an Uphold storage migration into newly tracked wallets. Excluding Uphold, the adjusted decline was 75 million XRP, or 0.54%.
XRP may move between customer accounts within an exchange's pooled holdings without affecting the exchange's total ledger balance, allowing internal trading to occur alongside external withdrawals. Additionally, recorded exchange wallet declines may represent institutional storage movements rather than customer withdrawals.
Escrow Release and Futures Activity
Ripple released 1 billion XRP from escrow on October 1, re-escrowed 700 million, and left 300 million in circulation. The availability of additional XRP does not establish whether these coins were sold.
Futures trading significantly exceeded spot trading volume. CoinGlass recorded $3.97 billion in XRP futures turnover over 24 hours against $801.56 million in covered spot turnover, with open interest at $3.35 billion. Futures activity was roughly five times the covered spot figure, though gross turnover does not clarify whether leveraged sellers initiated or followed the price decline.
Broader market conditions also weighed on XRP. Bitcoin traded around $83,100 on October 7, below its previous close of $85,557.56.
