It was nearly a 12 months in the past, to the day, when Canary Capital’s XRPC went reside for buying and selling, thus validating XRP as a serious monetary asset. The hype was monumental, and the XRP Military celebrated it as a serious achievement, which it was.
Quick-forward a 12 months later: there are positives, however there are additionally painful sides we have to focus on.
1B Tokens Purchased
The primary month and a half have been immensely spectacular. Within the couple of weeks in November 2025 after the debut of XRPC and the following ETFs that adopted, the funds attracted $666.61 million. December continued this robust development, with one other $500 million. Though demand slowed down considerably because the market unraveled over the subsequent practically a 12 months, the ETFs managed to shut every month within the inexperienced besides March.
Not one of the different crypto-focused ETFs may brag about such a streak. Sure, there have been days with no reportable motion, however the internet outflows have been very, very minimal. Curiously, Canary Capital’s XRPC has misplaced its benefit of being the primary XRP ETF to launch, and it’s now the third-largest, trailing Bitwise’s XRP and Franklin Templeton’s XRPZ.
November 2026 isn’t going nice for the Ripple ETFs, with $19.66 million in internet outflows within the first couple of weeks. The cumulative whole internet inflows have dipped from the current all-time excessive of $1.81 billion to $1.79 billion on SoSoValue.
In the meantime, the lately launched official channel monitoring the underlying cross-border token celebrated the one-year anniversary, declaring that the funds have bought 1.16 billion tokens inside that timeframe.
One 12 months in the past as we speak, the primary US ETF to carry solely XRP started buying and selling.
Since then, US spot XRP ETFs have gathered over 1 billion XRP. https://t.co/FcioWTnub2
— XRP (@XRP) November 13, 2026
The Unhealthy and the Ugly
Over a billion tokens may sound spectacular till you look at this quantity extra carefully. XRP’s present circulating provide is 63.51 billion tokens; which means that one billion is lower than 1.6% of that whole. The quantity for the BTC ETFs is shut to six% of the whole provide, as an illustration.
Moreover, the corporate behind the token releases exactly a billion XRP in the beginning of each month. In different phrases, it took the ETFs a 12 months to acquire as a lot XRP as Ripple releases from escrow every month. Even when solely 300 million out of that billion stays in internet circulation, as the corporate claims, the maths continues to be painful.
However the largest elephant within the room is what occurred to XRP’s worth inside that 12 months. Recall that the token marked its ATH in July 2025 at $3.65. It crashed onerous through the October 2025 bloodbath, however managed to stay at round $2.30-$2.40 when the primary ETF went reside for buying and selling.
A 12 months later, XRP plunged to $0.90. That’s a 60% pullback in 12 months, despite the fact that institutional merchandise are serving to legitimize its presence available in the market. After all, there are numerous different causes behind this market-wide crash, however the XRP ETFs have failed to offer the mandatory cushion for the underlying asset to avert these huge losses.
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