Demand for Ripple ETFs has disappeared as the price of XRP falls 11% weekly

It’s been over three months since the first XRP ETF launched, but demand seems to have evaporated.

It was another week of disappointing XRP ETF performance, with the funds attracting little to no actual net inflows.

At the same time, the underlying asset has struggled to maintain last week’s price rebound and is now trading more than 10% lower.

Where has the demand for Ripple ETFs gone?

Canary Capital’s XRPC was welcomed with open arms by investors, breaking the 2025 trading volume record on its debut day on November 13. Four other products that followed the altcoin followed suit, with total inflows quickly skyrocketing to over $1 billion. Since then, however, it has remained largely stable, even deep in the red for several weeks.

For example, investors raised $40.64 million in the week ending January 23, and another $52.26 million the following week. The next one was more positive, with net inflows of $39.04 million. The trend then changed: the interest and demand are nowhere to be seen.

Two weeks ago – on February 11 – the ETFs had no reportable daily flows, with SoSoValue showing a clear “$0.00” for the first time since the product’s launch. This behavior worsened last week when there were two such days – February 17 and February 20. Even the other two showed little interest: $2.21 million in net outflows on February 18 and $4.05 million in net inflows on February 19.

Since Monday was a US national holiday and the markets were closed, this meant that half of the business days had no actual trading volume to report. It is therefore no surprise that cumulative net inflows have remained stable at $1.23 billion.

XRP price drops

Somewhat unexpectedly, Ripple’s own cross-border token rose sharply by double digits last weekend, reaching a multi-week high of over $1.65 despite the lack of ETF action. However, this sporadic price pump was short-lived and the asset quickly lost its traction. The price returned to $1.40 mid-week and even fell below that level a few times.

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It has managed to defend that support at the time of writing, but the stock is still down more than 10% weekly. Aside from ETF investors who had shown a serious lack of interest in the asset, data shared by popular analyst CW shows that short traders continue to dominate the XRP landscape.

Nevertheless, a recent report from Santiment suggested that XRP could be slightly undervalued at the moment, according to the 30-day MVRV ratio. Furthermore, the skyrocketing amount of realized losses could lead to a significant price recovery for Ripple’s token, as has happened in the past. In fact, it led to a 114% increase in 2022, when such losses were last seen.