Three months after the launch of the first US spot XRP ETF, the strong early momentum that excited the XRP community appears to be slowing. The initial trading sessions were impressive, and several additional funds quickly joined the market. However, recent data suggests investor demand is no longer as strong as it was in the early weeks.
Canary Capital’s XRPC remains the leader, holding more than $410 million in cumulative net inflows since its November 13 debut, which marked the highest first day trading volume for an ETF launch in 2025. Bitwise follows with $360 million in inflows, while Franklin Templeton’s XRPZ stands at $328 million. Collectively, the funds surpassed $1 billion in total net inflows after more than a month without a single day of withdrawals. That streak ended in early January, followed by several additional outflow days, including a notable decline toward the end of the month.
Although cumulative inflows remain above $1.20 billion and most full trading weeks have still closed in positive territory, last week reflected softer interest. Inflows were modest on Monday, Tuesday, and Friday, Thursday recorded net withdrawals, and Wednesday saw no activity at all. While the week finished slightly positive overall, the daily breakdown clearly indicates declining momentum.
At the same time, XRP’s price has experienced sharp volatility. After dropping to $1.11 last week, the token rebounded to $1.55, consolidated around $1.40, and then surged to just above $1.65 before pulling back again to near $1.55. Despite the fluctuations, XRP’s market capitalization remains above $90 billion, keeping it ahead of BNB in the competition for fourth place among cryptocurrencies by market value.
