XRP Is Down, But Investors Keep Pouring Money Into Its ETFs

• Seven US spot XRP ETFs hold over $1 billion AUM with 771 million XRP locked in vaults.
• Net inflows of $41 million in 2026, despite XRP trading nearly 40% below its yearly high.
• Analyst says XRP is coiling quietly while cross-border payment infrastructure keeps building.

XRP has lost nearly 40% of its value over the past year. Its ETFs tell a completely different story. Seven spot XRP ETFs are currently trading in the United States with combined assets under management of over $1 billion and 771.65 million XRP tokens locked in vaults. Net inflows in 2026 alone have surpassed $41 million, with the products now holding approximately 0.77% of XRPs total market cap.

At press time, XRP is trading around $1.34, up 3.35% on the day. The price remains well below its January highs, but the money flowing into structured ETF products has not followed the price lower.

Who Is Buying

Bitwise leads the pack with $8.57 million in daily volume, followed by Franklin Templeton at $2.04 million and Canary Capital at $1.51 million. Grayscale, 21Shares, and REX-Osprey make up the remainder of the active products. Week 14 alone saw net flows of 1.86 million XRP to the collective vaults.

Whats Coming Next？

An analyst has argued that the token is not underperforming so much as quietly consolidating while its underlying infrastructure continues to build momentum.

“XRP isn‘t dead money,” he wrote. “It’s coiling in the quietest part of the cycle while the infrastructure quietly wins.”

The analyst pointed to Bollinger Band squeeze forming on the charts, tightening supply dynamics, and XRPs growing role as settlement infrastructure.

If macro conditions deteriorate or the $1.28 support breaks, a move toward $1.25 is possible. The bearish price channel remains intact until volume confirms a genuine breakout.

But the longer-term structural argument centers on XRPs role as what he called “the plumbing,” the native asset for fees and reserves on the XRP Ledger, and the fastest and cheapest cross-border settlement option currently available at scale.

The Disconnect Worth Watching

The gap between price performance and ETF conviction is unusual. Typically, sustained price declines drive outflows as investors cut losses and rotate elsewhere. XRPs ETF flows suggest a segment of the market is treating the current price as an entry point rather than an exit signal.

April has historically been XRPs strongest month, averaging gains of 24.8%. Whether 2026 follows that pattern remains to be seen.