Spot XRP ETFs now hold a record 1.26% of the token’s total market capitalization, according to fresh data from SoSoValue. Net assets in these funds have reached $1.11 billion, a significant milestone for the asset class.
Despite cumulative ETF inflows climbing to $1.32 billion, XRP’s price continues to drift sideways within a narrow range of $1.30 to $1.50. This consolidation has now lasted for 75 days, suggesting that ETF buying alone isn’t enough to break the stubborn $1.50 resistance level.
Why the Breakout Hasn’t Happened Yet
Statistics from November through December 2025 illustrate the disconnect clearly. During that period, even as record inflows accounted for the majority of the cumulative volume, XRP still managed to decline by 27%. This suggests that institutional interest doesn’t always translate into immediate price action.
In this context, the removal of 1.26% of the supply from free circulation creates a sort of launchpad for buying momentum, but not by itself. If an active risk-on phase begins and these coins remain locked inside ETFs, the absence of this supply on exchanges could provide XRP with a much easier and more powerful upside move. A similar pattern was observed in January 2026, when XRP price rallied by the same 27%.
Current Inflows Tell a Different Story
It is worth acknowledging that the April-May ETF excitement has been relatively moderate, with inflows totaling around $110 million. This prompts the thought that the current ETF rally is not about immediate price growth, but rather about strengthening the fundamental floor beneath XRP.
If investors who deployed over a billion dollars at the end of 2025 did not dump their holdings during the first half of 2026, it suggests their investment horizon extends far beyond the current consolidation phase. They’re not day traders chasing quick profits.
What Could Trigger the Next Move
The real price trigger will emerge either when inflows once again accelerate to levels comparable to late 2025, or when we see a reversal in the Net Assets metric itself. Once a sustained reversal toward outflows begins, it will signal that major players have started taking profits after failing to get the breakout they expected.
For now, it’s fair to assume that 1.26% of XRP supply has simply disappeared from the market, waiting for its moment. The question is whether that moment will come from renewed buying pressure, or from a shift in sentiment that unlocks these holdings back into circulation.
