How XRP became the top crypto ETF trade despite price slides toward $2

XRP spot ETFs have experienced a remarkable streak of consistent inflows, accumulating roughly $756 million across eleven trading sessions since their launch, making it the top performer among crypto ETFs despite Bitcoin and Ethereum seeing net outflows. This strong institutional demand contrasts sharply with XRP's price performance, which has fallen about 20% during the same period, trading near $2.03. This divergence suggests that new, regulated institutional allocation is being absorbed by selling pressure from existing holders, possibly early adopters reducing risk amid macro uncertainty.

Under the surface, blockchain data shows a significant centralization trend, with the number of 'whale' wallets holding 100 million+ XRP plummeting by over 20%. While some view this as supply moving into 'stronger hands,' it increases centralization risk, making future price action highly dependent on a shrinking cohort of large entities. Simultaneously, exchange balances are thinning as tokens move into regulated custody solutions required by ETF issuers.

The strong ETF flow has positioned XRP as a potential benchmark altcoin for institutional portfolios, supported by Ripple's ecosystem expansion, including its stablecoin RLUSD and integrated financial infrastructure. However, analysts caution that this early momentum does not guarantee long-term dominance over competitors like Solana, and the price behavior still reflects broader macroeconomic challenges.

(Source：CryptoSlate)