Money Flows Only Into XRP Spot ETFs… Why Is the Price Stuck at $7.70?

▲ XRP ETF / ChatGPT-generated image ©

Prices have collapsed, yet funds are flowing in. The XRP spot ETF market is sending a strong signal of a “supply-demand and price divergence.”

According to investment outlet TradingNews on February 27 (local time), XRPI, a spot XRP (Ripple) ETF, closed at $7.70, down 2.78% on the day and marking a 67.3% plunge from its yearly high of $23.53. XRPR, which tracks a similar trend, also fell to $7.70, while XRP-USD traded around $1.35, down about 3% on the day.

Despite this, the outlet noted that fund flow indicators tell a completely different story. Since the launch of U.S. spot XRP ETFs in mid-November 2025, cumulative net inflows have reached $1.24 billion, with total assets under management (AUM) expanding to $1.06 billion. Canary Capital’s XRPC leads with $280.38 million in net assets, forming a tight race with Bitwise’s product at $278.22 million.

The direction of capital flows is also noteworthy. XRP-linked ETFs have absorbed about 50% of new funds entering altcoin spot ETFs, surpassing Solana at 30% and Hedera at 20%. Notably, even during the “red market” in 2026, when funds flowed out of Bitcoin and Ethereum ETFs, there were days when XRP ETFs still recorded net inflows. In February, there were only three days of negative flows.

Broader market risk aversion and a contraction in the derivatives market have been cited as reasons why prices have failed to follow the strong inflows. XRP-USD fluctuated between $1.39 and $1.49 intraday before falling back to $1.35 amid heightened volatility. Open interest in XRP futures has dropped to levels last seen in January 2025, signaling a clear exit of leverage-driven trend capital.

Ultimately, the key question is whether the “accumulation of institutional capital” will serve as a leading indicator for a price rebound. TradingNews emphasized that XRP ETFs quickly surpassed $1 billion in AUM after launch, positioning themselves at the center of altcoin ETF capital rotation, but concluded that broader market risk-off sentiment is delaying price recovery in the short term.

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