XRP traded near the $1.50 mark, down roughly 8% from the previous day after failing to sustain the $1.60 resistance. The token’s 24-hour range stretched from $1.60 to $1.46, placing it at the lower edge of its daily band and trimming its market cap to about $92 billion, keeping it the fifth-largest cryptocurrency by value. Against Bitcoin, XRP slipped 5.6% to 0.00001755 BTC, indicating the move was not limited to fiat-denominated pricing.

ETF inflows versus spot-market dynamics

U.S. spot XRP exchange-traded funds attracted $18.04 million in net inflows during the latest trading session. The Bitwise XRP ETF contributed $11.54 million, raising its cumulative assets to $646.08 million, while Franklin Templeton’s XRPZ added $6.50 million, bringing its total to $496.80 million. Overall ETF assets now sit near $1.67 billion since launch.

Despite fresh money entering regulated funds, total net assets of the ETFs fell from $1.731 billion in the prior session because the lower XRP price reduced the valuation of holdings already owned by the funds. Moreover, the $18.04 million inflow represented only about 0.44% of the $4.1 billion of XRP traded on spot markets over the same period, underscoring the modest scale of ETF purchases relative to overall market activity.

Technical and on-chain signals

CoinGecko’s market note attributes the recent decline primarily to profit-taking. After a rally that lifted XRP from roughly $1.29-$1.38 on September 18 to near $1.60, many short-term buyers locked in gains, leaving the token vulnerable when price momentum stalled.

On-chain analytics from Santiment show a 365-day MVRV ratio of –11.75% as of September 23, meaning the average holder over the past year is sitting at an unrealized loss. This metric aligns with the notion that long-term participants are looking to reduce exposure during price pullbacks.

The price action unfolded in three distinct legs. Initial resistance at $1.60 gave way to a drop from $1.58 to $1.52, followed by a sideways consolidation between $1.49 and $1.52. A brief rebound near $1.52 failed, and a final leg after 13:45 IST saw the price breach $1.48, settling around $1.46 by 15:00 IST. Futures positioning and a potentially crowded order book could amplify the next move, whether up or down.

Why it matters

The episode illustrates how spot-market supply can outweigh regulated fund demand, especially when ETF inflows constitute a fraction of daily trading volume. For traders and investors, the combination of profit-taking, negative on-chain sentiment, and technical weakness around the $1.60 level suggests that further downside risk remains unless new buying catalysts emerge. Monitoring both regulated inflows and broader spot activity will be crucial for gauging XRP’s short-term trajectory.