XRP is hovering around $1.50, down 8% over the past 24 hours after losing the $1.60 level. The decline came even as U.S. spot XRP ETFs recorded $18.04 million in net inflows during the previous session, highlighting the difference between institutional fund demand and selling activity in the spot market.
XRP traded between $1.60 and $1.46 over the past day, leaving it near the lower end of its range. Its market capitalization fell to roughly $92 billion, keeping the token in fifth place by market value. XRP also dropped 5.6% against Bitcoin to 0.00001755 BTC, indicating broader weakness rather than a decline limited to its dollar price.
ETF Inflows Fail to Support XRP Price
Bitwise’s XRP ETF accounted for $11.54 million of Tuesday’s inflows, bringing its cumulative total to $646.08 million. Franklin Templeton’s XRPZ attracted another $6.50 million, taking its cumulative inflows to $496.80 million.
Together, U.S. spot XRP ETFs recorded $18.04 million in net inflows, pushing total inflows since launch to approximately $1.67 billion. However, total ETF net assets fell from $1.731 billion in the previous session as XRP’s lower price reduced the value of the assets held by the funds.
The fresh ETF capital was also relatively small compared with XRP’s spot-market activity. The $18.04 million inflow amounted to about 0.44% of the $4.1 billion in XRP spot volume recorded over 24 hours. While the two figures cover different periods, the comparison shows that ETF demand remains modest relative to overall trading activity.
CoinGecko attributed much of the latest weakness to profit-taking. XRP climbed from around $1.29 to $1.38 on September 18 before advancing toward $1.60 in the following sessions. The rally left recent buyers with gains that could be realized once the token failed to clear resistance.
Rising XRP deposits on Binance may provide another sign of potential distribution, although exchange transfers do not automatically indicate selling. Tokens can be moved to exchanges for trading, market-making, custody changes or collateral purposes.
Santiment’s on-chain data provides additional context. XRP’s 365-day MVRV ratio stood at -11.75% on September 23, indicating that the average holder active during the previous year was carrying an unrealized loss. Such conditions can contribute to selling during rallies as investors seek to reduce exposure.
$1.60 Resistance Remains Key for XRP
The sell-off developed through several stages. XRP traded near $1.60 late on September 23 before falling from roughly $1.58 to $1.52. The token then remained range-bound between $1.49 and $1.52 overnight.
A recovery attempt around 11:00 IST on September 24 briefly pushed XRP
