XRP Holds Range as ETF Inflows Rise and Whale Outflows Tighten Supply

XRP (XRP) was trading around $1.44 on Thursday ET, as investors tracked steady ETF-related inflows and a renewed pickup in large-holder activity that could shape near-term liquidity conditions.

April has seen continued institutional positioning in the U.S. spot XRP ETF market, with combined holdings now estimated at roughly $1.08 billion—about 1.23% of XRP’s circulating supply. Market participants have increasingly pointed to these products as a measurable source of incremental demand, particularly as allocations shift toward regulated vehicles during periods of heightened volatility.

Franklin Templeton’s XRP ETF (XRPZ) has been a notable driver of recent flows, posting $3.89 million in net inflows in a single day, according to data cited in the report. Separately, Turtle Capital has filed to launch an “XRP Income Blast ETF,” underlining how issuers are broadening beyond plain-vanilla spot exposure into yield- or income-oriented structures designed to appeal to different risk profiles.

On-chain data also suggested tightening exchange-side liquidity. The XRP Ledger recorded net exchange outflows of about 34.94 million XRP over a 24-hour window—described as the sixth-largest daily outflow so far this year. Binance accounted for a significant portion of that movement, and roughly 94.4% of the exchange’s outflows were attributed to ‘whale’ wallets, a pattern often interpreted as large holders moving tokens into self-custody or repositioning ahead of potential volatility.

Whale transactions rebounded to around 3,000 between April 23 and 24, indicating that high-value participants had returned after a quieter stretch. While such spikes do not inherently signal direction, they tend to coincide with periods when market structure is being reset—either through accumulation, redistribution, or collateral movements tied to derivatives positioning.

From a technical perspective, XRP’s price hovered near a key inflection zone. A break below $1.38 could open downside tests toward $1.35 and potentially $1.30, analysts cautioned. Conversely, on-chain technicians cited a developing ‘symmetrical triangle’ setup, a consolidation pattern that can precede an expansion in volatility; a confirmed breakout could target the $1.58 area.

In the broader context, the coexistence of ETF inflows and sizable exchange outflows is being watched as a proxy for whether ‘institutional demand’ is translating into reduced spot availability. For now, XRP remains range-bound, but the mix of regulated-product inflows and whale-led liquidity shifts suggests the next decisive move may depend on whether buyers can sustain momentum above key support levels.