XRP Profitability Hits 21-Month Low as ETFs Turn Negative — But Whales Hold Firm

XRP's profitability has plunged to a 21-month low, with over 56% of circulating tokens now held at a loss. This downturn, marked by six consecutive red monthly candles, has led to significant losses for investors who bought above $2.

Simultaneously, institutional demand for XRP via spot ETFs has weakened considerably. March 2026 marked the first net outflow month for XRP ETFs since their launch, with further outflows in early April. Total assets under management for US-listed XRP ETFs have dropped significantly from their January peak.

Despite these bearish indicators, large XRP holders, or 'whales,' are not selling. Whale inflows to Binance have reached their lowest level since early 2026, suggesting they are holding assets off exchanges, which can support price stability. This divergence between retail/institutional weakness and whale restraint creates a conflicted market outlook for XRP.

(Source：BeInCrypto)