Five tracked US spot XRP ETFs held an estimated $1.7 billion at the Oct. 6 close, even as weekly net inflows came to roughly $3.9 million. XRP traded around $1.43 on Oct. 7, down 5.46% over 24 hours, while exchange-balance and futures data left the drivers of the move unresolved.
ETF holdings outpace fresh inflows
XRP traded around $1.43 on Oct. 7, down 5.46% over 24 hours. Market data tracker Maketo estimated that its five tracked funds held $1.7 billion, or about 1.13 billion XRP, at the Oct. 6 close.
But the holdings total reflects accumulated exposure, not fresh demand. Maketo's flow data for Oct. 6 showed $3.14 million of aggregate net inflows, with the past-week total at roughly $3.9 million and the past-month figure at $112 million.
The daily breakdown was uneven: about $11 million entered Bitwise's fund, while Franklin recorded roughly $4.1 million leaving and Canary lost about $3.3 million; Grayscale and 21Shares were flat. Bitwise's additions outweighed the outflows elsewhere, keeping the sector net positive. Canary's share count fell from 23.35 million on Oct. 5 to 23.14 million on Oct. 6, consistent with net redemptions, though the data does not show which investors redeemed or where any underlying XRP changed hands.
Exchange balances cloud the supply story
An Oct. 7 reading from ledger tracker XRP Insights, taken at 08:00 UTC, counted 21.98 billion XRP in 699 publicly attributed wallets across 24 exchanges, a figure that includes cold storage and reserves backing wrapped tokens.
Over seven days, those balances fell by 26.5 million XRP, or 0.13%; Binance-attributed balances dropped 33 million XRP while Upbit's rose 11.5 million. The monthly change looked sharper at a 1.63 billion XRP decline, but XRP Insights attributed most of that to an Uphold storage migration into untracked wallets. Excluding Uphold, the monthly decline was 75 million XRP, or 0.54%. Separately, Ripple's Oct. 1 cycle released 1 billion XRP and re-escrowed 700 million, leaving 300 million outside escrow without establishing that the coins were sold.
Futures turnover dwarfs spot trading
At 14:29 UTC on Oct. 7, CoinGlass recorded $3.97 billion of XRP futures turnover over 24 hours against $801.56 million of covered spot turnover. Open interest stood at $3.35 billion. Futures activity ran roughly five times the covered spot figure, but gross turnover counts trading activity rather than net bearish exposure, leaving open whether futures sellers led the price move or followed it.
The backdrop extends beyond XRP: Bitcoin traded around $83,100 in CryptoSlate's Oct. 7 snapshot, below its Oct. 6 reference close of $85,557.56. The dated redemptions show where ETF exposure was reduced, but the dominant XRP sellers remain unidentified.
Source: CryptoSlate
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