XRP Approaches a Crucial Turning Point This Week, Say Analysts

This week could represent a pivotal moment for XRP, as five spot ETFs will trade concurrently for the first full week. The 21Shares XRP fund (TOXR) officially launched today, joining the ranks of Bitwise, Grayscale, Franklin Templeton, and Canary Capital. The latest reports indicate that ETF inflows have already exceeded $660 million in under a month, showcasing a remarkable streak of ten consecutive trading days without any outflows.

Key Takeaways

This week could be crucial for XRP as five spot ETFs are trading together for the first time.
ETF inflows have reached over $660 million within a month, with no recorded outflows.
The competition among funds may affect their long-term acquisition strategies for XRP.
Significant liquidity shifts are occurring, with large holders accumulating XRP, while OTC channels are dwindling.
Analysts are closely watching how ETF demands and liquidity will influence market volatility.

XRP

Concurrent Trading of 5 ETFs

Bitwise has raised its XRP holdings to 80 million tokens. In total, ETF managers now hold more than $687 million in assets, translating to over 300 million XRP on record. 21Shares entered the market with a $500,000 seed basket and applies a management fee of 0.50%. Analysts suggest that the competition among fund issuers will reveal their future buying strategies over the long term.

Analyzing Demand Models

A simulation on price sensitivity conducted by Mohamed Bangura has caught the attention of market commentators. The model rests on a baseline daily demand of 74.5 million XRP from the ETFs, a total exchange supply of 2.7 billion XRP, and an escrow release of 300 million XRP every month.

"Next week is a significant milestone for XRP. We will witness the first full week of competition among five pure spot ETFs. By the end of the week, we’ll gain valuable insight into what to expect regarding these funds' long-term acquisition of XRP."
— Chad Steingraber (@ChadSteingraber) November 30, 2025

Trading data

Experiments using elasticity values of 0.2, 0.5, and 1.0 over a 180-day period revealed that low elasticity could deplete exchange-held supply rapidly, whereas higher elasticity might prompt sharper price increases as over-the-counter (OTC) liquidity absorbs the flows. This has resulted in traders closely monitoring liquidity statistics.

Jake Claver, CEO of Digital Ascension Group, warned that private OTC and dark-pool channels are becoming increasingly scarce. He estimates that roughly 800 million XRP was absorbed in private liquidity during the first week of ETF accumulation.

XRP Trading Data

XRP is currently trading at $2.02. Chart: TradingView

Due to a significant amount of ETF buying occurring off-exchange, the price movements have yet to reflect the tightening supply. This situation may lead to more abrupt price fluctuations when funds are compelled to source coins from public exchanges.

Meanwhile, changes among large XRP holders have also come to light. The top 10,000 wallets now hold 51.39 billion XRP, accounting for about 85% of the circulating supply. In just one day, 78 new wallets acquired a total of 77.324 million XRP, with one wallet alone reportedly collecting 35 million XRP, while another took in 3.63 million, and six wallets added 1.99 million each.

"🚀 XRP RICH LIST SHOCKWAVE (11/29/2025) 🐳 Fresh data shows that the top 10,000 wallets now control over 51.39 billion XRP, and today's ledger activity indicates new whales entering the market along with stealth accumulation. In just one day, 78 new accounts acquired more than 77 million XRP."
— XRP 🅧 Army | Chacha72kobe4er (@Mullen_Army) November 30, 2025

Wallet Activity

Up to 44 newly reported wallets have each gathered over 300 million XRP, while 246 existing wallets have collectively increased their holdings by 17.91 million XRP. This data points toward quiet accumulation even amid recent market fluctuations.

Analysts believe that the current situation represents a liquidity test rather than merely a story of demand. While approximately 300 million XRP held by ETFs is substantial, it's still relatively small compared to the potential daily demand if the inflows remain high and additional funds are launched.

If OTC channels become depleted and ETFs must procure coins from exchanges, volatility is likely to increase quickly. Traders and portfolio managers will be closely monitoring order books, OTC reports, and ETF filings in the coming days to understand how supply dynamics will evolve.

Featured image from Trading News, chart from TradingView