XRP ETFs XRPI at $10.52 and XRPR at $14.90 End 2025 Red as Inflows Hit $1.15B

XRP ETFs XRPI and XRPR: Flows Stay Strong While XRP-USD Fights to Hold the $1.80s

Spot XRP-USD Stalls Near $1.87 as XRPI and XRPR Close the Year in the Red

XRP-USD is trading around $1.82–$1.87 into the final New York session of 2025, slipping roughly 3% on the day and sitting under the key $2.00 line that has repeatedly rejected rallies. Intraday ranges are tight: spot XRP is oscillating between roughly $1.84 and $1.88, reflecting thin year-end liquidity rather than a clean directional breakout.
On the ETF side, the two flagship U.S. products tied to XRP are both finishing the session lower despite ongoing inflows. The NASDAQ-listed XRP ETF XRPI last changed hands near $10.52, down 2.51% on the day after a $0.27 slide from a $10.79 previous close. Intraday, XRPI traded between $10.47 and $10.82, barely above its $10.44 yearly low and far from the $23.53 high it printed earlier in the cycle; average daily volume stands around 533K shares.
The REX Osprey XRP ETF XRPR on BATS is showing similar pressure. It closed near $14.90, a 2.87% drop (-$0.44) from a $15.34 prior close, having traded in a $14.86–$15.55 intraday band. XRPR is barely above its $14.79 year low and well below its $25.99 year high, with average volume just over 31K shares – a reminder that liquidity remains concentrated in the primary XRPI vehicle.
On traditional equity screens these XRP funds sit next to mega-caps like AAPL at about $272.68 (down 0.15% on the day), but the volatility profile is far closer to a high-beta crypto proxy than to a mature cash-rich hardware and services business.

XRP ETFs Lead Crypto Inflows as Bitcoin and Ethereum Products Bleed

Despite soft prices, XRP-linked ETFs are dominating late-December crypto flows. Across U.S. vehicles, spot XRP ETFs have now logged 29 consecutive trading days of net inflows, with cumulative demand since launch around $1.15 billion. Over just the last two days, funds pulled in 10.8 million XRP, lifting ETF holdings from 745.33 million to roughly 756.13 million XRP with no outflow days recorded.
December alone absorbed about $478 million into XRP ETFs, and on busier sessions, daily trading volume in the complex has topped $30 million, locking up nearly 750 million XRP on the fund side. In the final full week of 2025, estimated net inflows of roughly $64 million into XRP vehicles stood out against outflows from many bitcoin and ether products.
This divergence is critical: structurally, fresh capital is being allocated to XRP exposure via ETFs even while the broader crypto ETF complex sees profit-taking and reallocations. That is the main reason XRPI and XRPR remain in focus for institutional desks building diversified crypto sleeves rather than concentrating everything into BTC and ETH.

How XRPI, XRPR and the Roundhill Covered Call ETF Slice the XRP Trade

The existing XRPI and XRPR funds are straightforward spot-linked products: they hold XRP and translate token exposure into equity-like shares listed on NASDAQ and BATS. That structure is what drives the direct token accumulation numbers in the ETF holdings data – the roughly 756 million XRP now locked inside spot ETFs.
The Roundhill XRP Covered Call Strategy ETF, by contrast, is built as an options-income overlay on top of other XRP ETFs, not as a direct holder of XRP-USD. The latest Rule 485 post-effective amendment filed on 30 December 2025 does not change that structure at all; it simply delays the launch date while keeping the strategy design intact.
Mechanically, Roundhill plans to write options on XRP ETFs (for example, covered calls on products like XRPI/XRPR) and harvest premiums, targeting smoother income driven by XRP volatility rather than pure upside participation. The filing shows regulators are comfortable with XRP being used as a base asset for structured products in the U.S. ETF ecosystem, even if this particular fund will not own underlying tokens. That is an incremental, but important, step in normalizing XRP as institutional collateral.

Spot ETF Pipeline: 21Shares Clearance Confirms XRP’s Regulatory Upgrade

Regulatory filings in December show that parts of the U.S. XRP ETF pipeline have moved beyond proposals into operational reality. A registration statement for the 21Shares XRP ETF became effective on 10 December, meaning that, from a rules perspective, XRP-USD now sits alongside leading crypto assets as an approved underlying for U.S. spot products.
Combined with the earlier settlement that clarified XRP is not treated as a security when traded on exchanges, the asset has effectively moved from regulatory grey zone to mainstream digital commodity in the U.S. framework. That shift underpins the $1.15B+ ETF inflows story and explains why managers like Roundhill are comfortable designing XRP-centric income strategies for a 2026 launch.

Holder Cohorts: Long-Term Buyers Return While Whales Dump 130M XRP

Under the surface, the holder mix is rebalancing in a way that explains why XRP-USD is heavy but not collapsing. Long-term holders – the “hodler” cohort – spent nearly three weeks in December net selling, with negative position change every day from 3–26 December. That flipped sharply on 27 December, when they added 9.03 million XRP, followed by 15.90 million XRP of net accumulation on 29 December. In just 48 hours, long-term buying jumped roughly 76%, signaling that older wallets see value in the high-$1.80s.
Short-term participants (roughly 1–3 months cohort) have also expanded their footprint. Their share of supply climbed from about 9.58% on 29 November to 12.32% by 29 December, confirming that speculative traders are layering into the dip with the obvious expectation of a rebound once the ETF narrative and Fed backdrop turn more supportive.
The pressure comes from the whale tiers. Wallets holding 100M–1B XRP cut their balance from 8.23B to 8.13B on 28 December, effectively selling 100 million XRP (around $186 million near $1.86). The 1M–10M XRP cohort reduced holdings from 3.58B to 3.55B, another 30 million XRP (roughly $55 million) of supply. Combined, about 130 million XRP shifted out of larger hands, dampening the positive impulse from smaller buyers and explaining why the price remains pinned under $2.00 even as ETFs and hodlers accumulate.

Exchange Balances, Supply Shock Narrative and New Address Growth

ETF proponents often argue that relentless fund demand will trigger an imminent “supply shock.” The current data do not justify that claim yet. With roughly 756 million XRP parked in spot ETFs – less than 1% of total supply – there is no hard mechanical scarcity on the token. Large exchange wallets still carry substantial inventories, and tokens can be rotated back onto order books quickly.
Market specialists monitoring the ETF complex have explicitly noted that “XRP held in spot ETFs is less than 1% of the total supply” and that this scale is too small to constrain circulation in a durable way. On-chain validators have reached similar conclusions, arguing that ETF accumulation alone is “unlikely to create any lasting scarcity” at this stage.
Where the on-chain picture turns more constructive is address growth. The number of new XRP addresses has jumped to a monthly high, indicating that fresh participants are entering the ecosystem as 2026 approaches. Exchange balances have stayed unusually flat over recent days – neither heavy inflows nor panic outflows – which, combined with address growth, signals quiet positioning ahead of potential ETF and macro catalysts. If those new wallets evolve into consistent demand with real transaction activity, they can provide a more meaningful driver than the current, modest ETF-driven supply sink.

XRP-USD Technical Map: From the $1.80 Shelf to the $2.30–$3.00 Band

Technically, XRP-USD is trapped between a crowded support shelf and a layered resistance zone that the market has failed to clear multiple times.
On the daily timeframe, immediate support sits around $1.86–$1.87, with a slightly deeper cushion near $1.79–$1.82. Price has spent several sessions oscillating around these levels, confirming them as the current battleground zone. Below that, the next major downside pockets lie at $1.64, $1.50–$1.60, and then $1.48.
On the topside, the first obstacle is $1.93, where recent rallies stalled. The more important band is $1.98–$2.00, a psychological line where repeated selling has emerged. Technical calls also highlight $2.08 as a confirmation level: a daily close above $2.08 would signal that the market has finally invalidated the short-term bearish pattern, opening the path to $2.28–$2.30, then $3.00, $3.37, $4.00 and, in more extended scenarios, $5.00.
Overlaying a longer-term weekly chart shows a broad $1.58–$3.50 trading range that has constrained price for nearly two years. The upper boundary around $3.50 has repeatedly turned back rallies, while $1.58 has acted as a durable floor. Until XRP-USD either closes decisively above $3.50 or breaks and holds below $1.58, the market is structurally in a range regime, not a clear uptrend or downtrend.

Descending Channel and the 41% Drawdown Risk Toward $1.27

Shorter-term, the structure is more fragile. Since early October, XRP-USD has been travelling inside a falling price channel. Every bounce has failed at the upper boundary, and the pattern projects a potential 41% downside from the breakdown point if support bands give way.
The pivot trigger is $1.79. Holding above $1.79 and the broader $1.80 area allows the market to keep testing the upper side of the channel and makes a push towards $1.98–$2.00 and $2.28 feasible, especially if ETF inflows remain robust.
If $1.79 fails on a daily closing basis, the next supports to watch are $1.64 and $1.48. A clean loss of $1.48 would confirm a breakdown from the descending structure and expose the full 41% risk toward around $1.27, effectively revisiting the October 2025 flash-crash region. That is where stronger value-driven accumulation is likely to appear, but it would be a painful leg lower for anyone buying the current range without a risk plan.

Upside Path: From $2.00 Breakout to the Standard Chartered $8.00 Call

On the bullish side, the medium-term roadmap is now defined by a stack of institutional and model-driven projections. Several structured forecasts cluster around $3.00–$5.00 for 2026, with algorithmic models pointing to an average around $5.12 and more conservative houses working with $3.00–$3.90 as base cases.
The most aggressive sell-side bank call in the data set puts XRP-USD at $8.00 by end-2026, implying roughly 330% upside from the current $1.80s. That trajectory assumes:
– ETF assets climbing toward $10 billion,
– exchange balances falling materially from the current 2.6B region, and
– a broader resumption of the crypto bull cycle with XRP closing some of the gap to larger caps.
On top of that, long-horizon Elliott-wave style analyses flag extension levels at $4.78, $5.51, $6.75, and in extreme bull scenarios even $18–$27, but those projections are effectively 2030-type narratives, not near-dated trading plans. For the next 12–18 months, the realistic upside corridor that can be anchored to current ETF flows and technicals sits between $3.00 and $5.00, contingent on a decisive reclaim of $2.00, then $3.00, with the $3.50 range high turned into support.

Macro, Dollar Slide and Year-End Liquidity Distortions

Macro conditions into year-end are noisy. The U.S. dollar is on track for its largest annual decline since 2017, but the final sessions of December are playing out in razor-thin volumes with many markets closed for the New Year holiday. That combination – weaker dollar trend but poor liquidity – tends to exaggerate intraday swings without delivering reliable trend signals.
At the same time, markets are digesting Federal Reserve communications that still leave open how fast policy will move toward the 3.00–3.25% rate area in 2026. For high-beta assets like XRP-USD, slower cuts and stickier yields raise the hurdle for risk-on positioning, while cleanly dovish messaging could unlock a synchronized rally across BTC, ETH, XRP, and the ETF complex.
For now, bitcoin is holding around $87,000–$88,500, ether near $2,970–$2,990. In such conditions, XRP continues to trade like a leveraged satellite: when the majors stall, smaller tokens oscillate more violently inside their ranges rather than establishing durable trends.

XRPI and XRPR in a Portfolio: High-Beta Crypto Proxies in Equity Wrapping

From an allocation standpoint, XRPI and XRPR give institutions and advisors a way to express a targeted XRP view inside existing brokerage and custody infrastructure, side-by-side with tickers like AAPL. They offer:
– Regulated structure (’40 Act fund frameworks, exchange listing)
– Operational simplicity versus dealing with wallets and self-custody
– Direct sensitivity to XRP-USD plus, in Roundhill’s case, an overlay to harvest option income on that volatility.
The trade-off is obvious: tracking error and fee drag relative to direct token exposure, limited liquidity in secondary names like XRPR, and dependence on market makers rather than on-chain venues for execution quality. For large blocks of capital that are already constrained to listed securities, that is an acceptable compromise; for nimble crypto-native capital, it is not.

Market Stance on XRP-USD, XRPI and XRPR: Speculative Buy With Defined Downside

Putting all of the data together – $1.82–$1.87 spot, XRPI at $10.52, XRPR at $14.90, 29-day ETF inflow streak, 756M XRP in funds, long-term holders flipping back to net buying, whales unloading 130M XRP, the live descending channel and the broader $1.58–$3.50 range – the setup is asymmetrical but not low-risk.
On a standard 12–18 month horizon, the picture screens as a speculative Buy for XRP-USD and, by extension, for XRPI and XRPR, on the following logic:
– Structural demand via ETFs (over $1.15B in flows and 756M XRP absorbed) is real and persistent, even if it is not yet large enough to trigger a supply shock.
– Regulatory barriers have been materially lowered, with spot XRP ETFs approved and options-based products like Roundhill’s strategy ready for 2026.
– Long-term holders have resumed accumulation in the high-$1.80s, and new address growth suggests fresh capital is lining up ahead of 2026 catalysts.
At the same time, any Buy stance must acknowledge near-term downside:
– A clean break of $1.79 risks acceleration toward $1.64, $1.50–$1.60, and potentially $1.27 if the full 41% channel target plays out.
– Until $2.08 is reclaimed on a daily close, every bounce within the channel is vulnerable to whales selling into strength, as the recent 130M XRP reduction shows.
For aggressive investors comfortable with crypto volatility, accumulating XRP-USD or XRP ETFs on weakness toward the low-$1.80s with risk defined below roughly $1.50 offers a favourable risk–reward versus medium-term targets in the $3.00–$5.00 zone and a stretch case at $8.00 into 2026. For more conservative capital, the rational stance is Hold / wait for confirmation, i.e., require a decisive break above $2.08 and then $3.00 before treating XRP-USD, XRPI, or XRPR as anything more than high-beta satellite positions.

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