XRP ETF Buyers Down 13% as Inflows Persist

XRP is currently around $1.40, having dropped roughly 8% in the last seven days and sitting 11% under the peak it reached on September 23.

Despite the decline, XRP holders are not in a hurry to offload their coins. Assets continue to exit trading platforms, and ETF investors who are sitting on paper losses are still purchasing more.

Exchange Outflows Are Holding Steady

The Exchange Net Position Change metric from Glassnode measures the net amount of XRP moved to or from exchanges over a 30-day period. A negative figure indicates that more coins have been withdrawn than deposited.

On September 25, when XRP was around $1.57, the reading was approximately −1.53 billion XRP. By October 8, with XRP near $1.38, it had shifted to −1.58 billion XRP.

Thus, outflows remained consistent even as prices fell. If holders had scrambled to sell, exchange inflows would have risen, pushing the net position change closer to zero. That hasn't occurred, indicating that the majority of holders are staying put.

Institutional fund buyers exhibit a similar level of patience.

ETF Buyers Are Underwater but Still Adding

According to SoSoValue ETF data, investors have directed $1.80 billion into spot XRP ETFs since their inception. In August, inflows reached a record for 2026. The funds used those cash infusions to purchase XRP.

XRP's current price is below the average cost basis for a significant portion of those purchases. Consequently, on October 8, the XRP held by these funds was valued at $1.56 billion, roughly 13% lower than the total cash invested. For Canary's XRPC, the shortfall is around 31%, with assets of $335.7 million compared to inflows of $486.8 million.

Investors holding positions at a loss frequently sell out during downturns, but that hasn't been the case here. Since September 18, the funds have recorded only a single day of net outflows, a $3.28 million withdrawal on October 2. On October 8, when XRP fell to $1.32 amid the crypto sell-off this week, Franklin's XRPZ nonetheless attracted $8.17 million in net inflows.

Inflow activity has tapered off since late September, though it has remained in positive territory. Over the last 30 days, the funds accumulated fewer than 100 million XRP. This implies that the majority of the 1.58 billion XRP withdrawn from exchanges were moved by entities other than these ETF funds.

XRP Price Levels That Will Test This Patience

XRP's price has been on a downward trajectory since reaching a high near $1.70 on August 22, following a 28% rally in August. A rebound attempt in September ran out of steam at $1.65.

On October 8, XRP dipped below $1.37, the 0.618 Fibonacci retracement level, but managed to close the session above it. The swift recovery may have been supported by consistent exchange outflows and ETF purchases.

Maintaining $1.37 as support preserves the possibility of a move toward $1.43 and $1.48. Climbing above $1.66 and subsequently $1.70 would break the sequence of descending peaks.

If XRP closes below $1.37 on a daily basis and then falls beneath $1.30, it could prompt even patient holders to start selling. Such a scenario could open the door to $1.20, and possibly $0.92 if the broader market softens.

Analyst’s View: Holders and ETF investors have weathered an 8% weekly decline without unloading positions. The $1.37 level represents the line between a potential bounce to $1.48 and a downturn that might ultimately test their resolve.