XRP ETFs Keep Attracting Billions, So Why Is XRP Still 64% Below Its ATH?

XRP has something many crypto investors spent years waiting for: regulated U.S. spot ETFs attracting institutional capital.

U.S. spot XRP ETFs have accumulated about $1.71 billion in historical net inflows, according to SoSoValue data cited in the latest ETF update. The funds held roughly $1.39 billion in net assets as of Sept. 17, equivalent to about 1.7% of XRP’s market value represented by the tracker. The latest session did interrupt the trend with about $5.15 million of net outflows, but that barely dents the much larger cumulative total.

Meanwhile, XRP trades near $1.33. Against CoinCodex's recorded all-time high of $3.65, that leaves XRP roughly 64% below its peak.

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So where is the ETF effect?

$1.7 Billion Sounds Bigger Than It Is

ETF inflows are clearly creating genuine demand for XRP, but they do not operate in isolation.

Recent estimates put ETF holdings above one billion XRP. Earlier this month, XRP funds even attracted money while Bitcoin, Ethereum and Solana ETFs suffered outflows.

But XRP remains a highly liquid, large-cap cryptocurrency. ETF purchases still compete against existing holders selling, exchange liquidity, derivatives positioning and broader crypto-market flows.

That explains the apparent contradiction: ETF investors can be net buyers while the overall market still has enough sellers to keep XRP under pressure.

XRP Just Absorbed Another Major Selloff

Timing matters too.

XRP fell almost 10% on Sept. 15 after the Senate failed to advance the CLARITY Act, dropping from around $1.42 to $1.28. The procedural vote failed 49–50, below the 60 votes required to advance the legislation.

The selloff was striking because XRP ETFs were still holding roughly 1.1 billion tokens around the event.

ETF demand therefore did not disappear. It simply was not large enough to prevent short-term macro, regulatory and speculative selling from dominating price.

XRP’s momentum has consequently become unusually weak. Its two-week RSI recently reached what one analyst described as a 13-year low, while XRP continued testing long-term support near $1.30. That technical setup is examined more closely in the recent XRP RSI analysis.

XRP metric Current picture XRP price ~$1.33 Recorded ATH $3.65 Distance from ATH ~64% below Cumulative ETF inflows ~$1.71B ETF net assets ~$1.39B What Would Close the Gap?

ETF inflows alone may not be enough.

For XRP to begin closing its roughly 64% gap to the record, persistent institutional demand would likely need to coincide with improving broader crypto sentiment and enough spot buying to overwhelm existing sell-side liquidity.

Wall Street access to XRP has expanded. The price has not followed at the same speed.

If ETF inflows continue while XRP remains near $1.30, that gap will become even more unusual. If the price eventually begins rising alongside continued fund accumulation, however, the market may finally start reflecting some of the institutional demand that ETFs have been quietly building.