Fresh money is flowing into XRP ETFs at a pace not seen in weeks, yet the token keeps sliding while Bitcoin holds steady. Whether these inflows signal a turning point or simply paper over deeper selling pressure is the question…
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In a surprising turn of events, U.S. spot XRP (CRYPTO:XRP) ETFs saw $38 million in inflows on September 22 and 23, 2026, after a prolonged period of little new investment. However, as of September 25, XRP still trades at $1.55, down about 16% for the year.
So far in September, the XRP ETFs have collectively brought in around $80 million, with a week left in the month. The key question remains: Can these ETF inflows transform XRP’s struggling performance, or is the influx too insignificant to counteract selling pressure?
XRP ETFs Took In $38 Million on September 22 and 23 After a Flat Stretch
On September 22, the ETFs attracted $20 million, followed by an additional $18 million on September 23, according to SoSoValue. Bitwise’s fund led inflows on both days, while Franklin Templeton’s fund surpassed Canary’s to become the second-largest by total inflows.
These new investments ended a quiet stretch for XRP ETFs, which had seen total inflows remain stagnant at $1.71 billion as of September 19. With total inflows since launch now reaching about $1.75 billion, these funds currently hold XRP worth roughly 1.8% of XRP’s market value.
How does this work? Whenever new money flows in, an authorized participant—a financial institution—trades cash or XRP for new shares of the ETF. As a result, the fund must hold enough XRP to back every share it issues.
XRP ETF Inflows Are a Fraction of Daily Exchange Trading
Despite the positive inflows, XRP’s price still declined. On September 23, XRP briefly rose to $1.66 but then fell back to close near $1.50 the same day, about 9% lower than its peak during that trading session.
Exchange trading far exceeds ETF volume. Over the 24 hours leading up to September 25, around $4.2 billion worth of XRP was traded, meaning the $18 million inflow on September 23 accounted for just 0.4% of that activity.
Many sellers at higher price points are taking advantage of any rebounds to offload their holdings, further adding to downward pressure on the price. Consequently, for every ETF investment, a selling holder may partially offset the gains.
XRP Is Down About 16% for 2026 While Bitcoin Is Down About 3%
XRP faces tough competition this year, down about 16% for 2026 and 43% over the past year, while Bitcoin (CRYPTO:BTC) is down about 3% and Ethereum (CRYPTO:ETH) has fallen about 9%.
In the past month, XRP has gained 7.7% versus Ethereum’s 9.4%, showing that while recent ETF inflows are stabilizing XRP’s price, they are not propelling it ahead of the broader market. However, these inflows have helped maintain a price floor, as XRP has remained above its low of approximately $1.25 recorded on September 16.
Can XRP ETF Inflows Reverse XRP’s 2026 Performance?
For now, it appears unlikely. While the $38 million in inflows is a positive sign that may help stabilize XRP, it still represents a small fraction of the day-to-day trading volume. Additionally, holders who are at a loss continue to sell whenever the price bounces back.
For the ETFs to significantly impact XRP’s performance, they will need much greater weekly inflows. If October inflows surpass September’s $80 million and XRP closes above $1.70—its August 22 high—the funds would be making progress. Conversely, if XRP slides below $1.25—around 20% lower—this would indicate sellers have outmatched the funds’ buying power.
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