XRP ETFs XRPI and XRPR Suffer First $40M Red Week as XRP Drops Back Toward $1.91

XRP ETF XRPI and XRPR: price, range and risk profile

XRPI trades at $11.04, fractionally lower by $0.01 (-0.09%), with after-hours ticking to $11.05. Intraday, the fund moved between $10.86–$11.30, inside a 52-week corridor of $10.44–$23.53. That leaves XRPI barely around 6% above its yearly low and more than 50% below its high, despite healthy liquidity with average volume of 550,050 shares. The market is treating XRPI as a highly liquid but already de-rated vehicle for XRP-USD exposure.
XRPR changes hands at $15.77, up $0.06 (+0.38%), trading between $15.47–$16.01 on the day versus a $14.79–$25.99 yearly band. Price sits less than 7% above the annual low and roughly 39% below the peak, but on thin average volume of just 12,600 shares. XRPR effectively behaves as a higher-beta, lower-liquidity satellite ETF on XRP compared with XRPI’s more institutional profile.
The underlying XRP-USD trades around $1.91, about 20% below the recent high near $2.40–$2.4145 and back to the early-January breakout origin near $1.90. Price ran from below $1.90 to $2.40 at the start of 2026, then rolled over through $2.10 and has now round-tripped. With the token “only” 20% off its high while XRPI and XRPR are over 50% and nearly 40% below theirs, the ETFs are embedding an extra risk discount on top of spot volatility.

XRP spot ETFs: from relentless inflows to first weekly setback

Spot XRP ETF products built a powerful story from launch in mid-November. Starting with Canary Capital’s XRPC debut on November 13, cumulative net inflows climbed to roughly $1.28 billion, supported by the longest uninterrupted daily inflow streak for any crypto ETF. The run only broke on January 7, when the complex printed its first daily net outflow. That week still finished positive as subsequent sessions offset the single red day, and the next full week added almost $57 million of new money.
The regime changed in the most recent, holiday-shortened week. The first trading day after MLK Day saw investors pull $53.32 million, the largest daily net outflow since these XRP ETFs launched. Subsequent sessions showed only modest rebuilding: $7.16 million on January 21, then $2.09 million on Thursday and $3.43 million on Friday. Over the four-day stretch, net flows reached –$40.64 million, the first red week on record for the complex.
That shift trimmed cumulative inflows from the $1.28 billion peak down to about $1.23 billion. The complex remains structurally positive, but the trajectory is no longer one-way. Flows now oscillate between heavy single-day redemptions and small rebuilds, signalling that fast money is actively trading the structure rather than passively accumulating.

Fresh $8.72M ETF buying: institutions step back in after a liquidity reset

While the week closed negative, the flow picture is not uniformly bearish. Dedicated XRP ETF clients have recently purchased an additional $8.72 million in XRP through the funds, pushing total ETF net assets to roughly $1.49 billion even against a choppy derivatives backdrop. That chunk of capital arrived exactly as the market moved through a textbook liquidity reset.
Derivatives data show a double liquidation episode between January 5–6. The first wave targeted short positions, clearing more than $4.4 million of shorts, with Binance alone responsible for roughly $3.09 million of that flush. After price rejected the $2.40 area, the second wave hit long positions: around $4 million in long liquidations, including about $1 million on Binance, followed by another spike of roughly $1.5 million.
Heatmaps on the 15-minute and 1-hour frames indicate that short clusters were largely taken out before the market reversed against late longs. The sequence is a classic two-sided sweep: shorts wiped first, then over-confident breakout longs punished on the reversal. Against that backdrop, the $8.72 million of fresh ETF allocation looks less like random noise and more like institutional capital stepping in after derivatives leverage has been cleaned out.

Largest XRP ETF outflow week: $40M redemptions and sentiment reset

SoSoValue and other trackers confirm that the latest week delivered the worst outflow profile since XRP ETFs launched. Aggregate weekly net outflows above $40 million reversed the prior $57 million green week and produced the first negative week since November. The single $53.32 million outflow day stands out as a capitulation type print, dwarfing the modest inflows that followed.
Net, investors have removed $40.64 million over the four-day period, and cumulative inflows slipped from $1.28 billion to $1.23 billion. That is not an exit from the theme; the complex still holds over a billion dollars more than launch. It is, however, a clear sentiment reset: the assumption of one-directional ETF demand for XRP has been broken, and the products now trade as risk assets whose flows react sharply to price and macro shocks.

XRP-USD technicals: EMAs, consolidation band and bearish pennant

On the eight-hour chart, XRP-USD has retreated from the $2.40–$2.4145 zone back to around $1.9172–$1.91, leaving price roughly 20% below the recent high. The token now sits under both the 50-period and 200-period exponential moving averages on key intraday timeframes, signalling that bears control the short-term trend.
Structurally, price has carved out a bearish pennant: an initial vertical surge from under $1.90 to $2.40, followed by a converging triangle as volatility compresses. This pattern is approaching its apex, typically a prelude to a directional break. If bears follow through, the next logical target is the support around $1.7712, the low from December 19, which sits roughly 7.65% below current levels.
At the same time, the 200-EMA on the eight-hour chart acts as a trend validation region. A strong bullish response from this band—clean reclaim of the moving averages and a push to fresh local highs—would invalidate the pennant’s bearish implication and instead confirm renewed upside momentum. The absence of that reclaim so far keeps risk skewed to the downside.

Macro and cross-asset context: crypto softness versus risk-on elsewhere

The weakness in XRP-USD mirrors broader softness across crypto. Bitcoin (BTC-USD) trades near $89,000–$89,271, down around 1.68–1.72% on the day, while Ethereum (ETH-USD) sits just under $3,000, around $2,946–$2,959, off roughly 1.1–1.34%. Other majors such as Solana (SOL-USD) around $127.03–$127.09 and Cardano (ADA-USD) near $0.358 also lean lower.
At the same time, traditional risk assets are drawing capital. The Dow Jones and S&P 500 indices trade near record territory, and precious metals like gold and silver have pushed to new highs this year. That rotation pulls marginal dollars away from crypto ETFs and into equities and metals, especially after such a strong run from XRP’s sub-$1.90 levels to $2.40 earlier in the month.
This macro backdrop amplifies the impact of any negative flow day for XRP ETFs. When global risk appetite favours stocks and metals, even modest ETF outflows in XRP can create disproportionate psychological damage, reinforcing the perception that the trade has shifted from high-conviction accumulation to actively traded risk.

RLUSD stablecoin: stalled growth, new listings and chain expansion

The Ripple USD (RLUSD) stablecoin sits at a market capitalization of roughly $1.3 billion, a level it has held for several months. That stagnation signals that incremental on-chain demand has cooled relative to the earlier ramp. The flatline coincides with the recent ETF outflow week and the broader cooling of crypto risk taking.
However, fundamental positioning is not uniformly negative. Binance has just listed RLUSD, opening access to millions of users and potentially improving liquidity and utility. On top of that, planned expansion to other chains via Wormhole integration should increase RLUSD’s reach beyond its current footprint. Over time, broader chain availability and top-tier exchange support could re-ignite stablecoin growth, which would be supportive for the XRP ecosystem even if spot price remains volatile in the near term.

ETF flow structure versus price action: how XRPI and XRPR are really trading

Combining flows and prices gives a clearer view of XRPI and XRPR behaviour. Both funds trade close to the lower end of their 52-week ranges: XRPI at $11.04 versus $10.44–$23.53, XRPR at $15.77 versus $14.79–$25.99. The underlying XRP-USD is about 20% below its YTD high, but the ETFs are more than a third to half below their own peaks. That gap captures fee drag, market structure effects and a pronounced risk premium.
Weekly flows show a market that is no longer blindly adding risk. The –$40.64 million red week, anchored by a single –$53.32 million day, demonstrates that large holders will exit aggressively when price momentum turns or macro pressure spikes. Smaller daily inflows of $7.16 million, $2.09 million and $3.43 million highlight that dip-buyers exist, but are not strong enough—yet—to fully offset institutional de-risking.
Against that, the $8.72 million fresh allocation into XRP ETFs and the move in total ETF net assets toward $1.49 billion show that not all large players are fleeing. Some are explicitly fading the derivatives liquidations and stepping in as leverage gets flushed, treating ETF weakness as an entry opportunity rather than an exit signal.

Sentiment, positioning and the liquidity sweep setup in XRP

The double liquidation event between January 5–6, with $4.4 million in shorts wiped first and then roughly $4 million in longs plus another $1.5 million in long liquidations, has cleared a large block of over-leveraged positions in both directions. Short pressure was largely exhausted when the first leg cleaned out bears around the $2.40 region, and then optimistic breakout longs were punished as price reversed lower.
This two-sided trap leaves a cleaner positioning landscape. Perp traders have reduced leverage, ETF investors have proven willing to redeem aggressively on weakness, and fresh capital is beginning to pick spots to re-enter, as the $8.72 million ETF inflow illustrates. That combination—lighter leverage, choppier spot, and selective ETF buying—creates the conditions for future sharp moves once a new directional catalyst appears, whether it be a macro swing, regulatory development, or a clear technical break of the current pennant.

Risk-reward view on XRP ETFs XRPI and XRPR: verdict

Near term, XRP-USD trades inside a bearish technical structure, under key EMAs, with a pennant pointing toward $1.7712 as a realistic downside target if support fails. ETFs have just logged their first weekly net outflow of about $40 million, after previously pushing cumulative inflows to $1.28 billion and then sliding back to $1.23 billion. Both XRPI at $11.04 and XRPR at $15.77 sit close to the bottoms of their yearly ranges, and macro flows favour equities and metals over crypto for now.
At the same time, the structure is not collapsing. Total XRP ETF net assets remain around $1.49 billion, institutional players are still adding selectively with that $8.72 million purchase, and the earlier massive inflow streak confirms that a durable base of demand exists. RLUSD holds $1.3 billion cap, just secured a Binance listing and is scheduled for multi-chain expansion, anchoring the broader ecosystem.
Taken together, the configuration argues for a Hold stance on XRPI and XRPR. The short-term technical and flow picture is tactically bearish, with risk of a further slide toward the $1.77 area in XRP-USD and additional ETF outflows if macro pressure persists. However, the still-large cumulative inflows, sizeable AUM, and evidence of new institutional buying after leverage flushes do not justify a structural Sell call at current depressed ETF prices. The risk-reward skew suits investors willing to ride volatility with a medium-term horizon rather than momentum traders hunting for immediate upside.

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