Bitwise leads $11.31 million XRP ETF inflows near $1.32 support

Key takeaways

  • U.S. spot XRP ETFs recorded $11.31 million net inflows from October 5 to October 9 while XRP fell from about $1.52 to $1.40 and briefly touched $1.32.
  • Bitwise accounted for $10.55 million of the weekly total, leaving the remaining funds with only about $760,000 net added.
  • ETF net assets are around $1.57 billion against roughly $1.8 billion cumulative inflows since launch, leaving a $230 million mark-to-market gap.
  • The near-term technical question is whether the $1.32-$1.38 support zone can hold, or whether XRP must reclaim $1.50-$1.56 before the short-term trend improves.

What happened
During the week ending October 9, XRP's price slid by 7.3% from close to close, moving from about $1.52 to roughly $1.40 and touching $1.32 on October 8. Despite that decline, U.S. spot XRP ETFs attracted $11.31 million in net inflows. The result kept a 12-week inflow streak alive, but the distribution was uneven. Bitwise supplied $10.55 million, nearly the entire weekly figure on its own. Franklin Templeton's XRPZ added $4.10 million, while Canary Capital's XRPC saw a $3.34 million outflow. Three of the five sessions had no net flow. Excluding Bitwise, the other funds combined added only about $760,000 net.

Market context
The gap between ETF net assets and cumulative inflows offers a rough mark-to-market read. ETF net assets are at about $1.57 billion, while inflows since launch total roughly $1.8 billion. That leaves a gap of around $230 million, which reflects price movement rather than a direct measure of new demand. In the same week, U.S. bitcoin funds shed $681 million, and XRP was the only one among the cited bitcoin, ether, solana, and XRP fund groups to finish with net inflows. That relative resilience is notable, but one week does not show whether ETF demand can absorb continued selling in the spot market.

A separate listed vehicle entered the picture on Monday, October 12, when Evernorth's XRPN began trading on Nasdaq. The primary report says it holds about 473 million XRP. Its immediate effect on spot demand or price is not established, but it adds another public route to XRP exposure.

Why it matters
The central tension is concentration versus breadth. A $11.31 million inflow total can look constructive when XRP falls from about $1.52 to $1.40, yet Bitwise's $10.55 million contribution means the weekly result was not evenly distributed across issuers. If buying remains tied to one large fund, the streak may be less durable than the headline suggests. The $1.32-$1.38 area now functions as the immediate support test. Holding that zone while ETF flows stay positive would be consistent with dip buying. A break below it would indicate that inflows have not prevented further technical deterioration.

On the upside, the cited resistance band is $1.50-$1.56. A sustained reclaim of that range, rather than a brief intraday move into it, would provide stronger evidence that the short-term trend is improving. Until then, ETF inflows are a supportive flow signal, not confirmation of a price reversal.

What to watch
Upcoming weekly totals will test whether demand broadens beyond Bitwise. If Franklin Templeton's XRPZ, Canary Capital's XRPC, and other vehicles show more balanced inflows, the case for accumulation on weakness strengthens. If flows narrow further or turn negative, the 12-week streak will offer little proof of a reliable floor.

Price action around $1.32-$1.38 and $1.50-$1.56 remains the clearest technical marker. The $230 million gap between about $1.57 billion in ETF net assets and roughly $1.8 billion in cumulative inflows also warrants monitoring, because it changes with market value and can affect the interpretation of fund demand. Evernorth's XRPN and its reported 473 million XRP exposure are a potential demand factor, but their market impact still needs to be demonstrated.