XRP traded at $1.43 on October 7, marking a 5.46% decline over the previous 24 hours. Five U.S.-based spot XRP exchange-traded funds collectively held approximately $1.7 billion in assets as of October 6, according to data from market tracker Maketo. This total reflects cumulative investor exposure across the funds. Weekly net inflows into the sector were modest, amounting to about $3.9 million, with monthly inflows reaching $112 million. The daily flow data showed $3.14 million in aggregate net inflows on October 6, driven primarily by Bitwise’s fund, which recorded roughly $11 million in additions. In contrast, Franklin and Canary reported outflows of $4.1 million and $3.3 million respectively, while Grayscale and 21Shares saw no significant movement. Bitwise’s inflows were sufficient to offset withdrawals elsewhere, resulting in a net positive position for the sector overall. Canary’s share count declined from 23.35 million to 23.14 million between October 5 and 6, indicating shareholder redemptions without specifying investor identities or underlying token transfers.

ETF share trading and redemption processes operate independently. While individual shares change hands on exchanges, authorized participants manage the creation and redemption of fund units, which involves the movement of XRP in and out of custodial wallets. This distinction means that redemption activity does not necessarily imply sales by retail investors or a reduction in publicly tradable supply.

On-chain data from XRP Insights, recorded on October 7 at 08:00 UTC, identified 21.98 billion XRP across 699 wallets linked to 24 exchanges. This figure includes both exchange-held reserves and cold storage, as well as assets backing wrapped tokens, and therefore exceeds the volume of immediately tradable inventory. Wallet balances can shift due to internal exchange movements, such as storage migrations, without reflecting customer withdrawals. Over a seven-day period, tracked wallets showed a net decline of 26.5 million XRP, or 0.13%. Binance-attributed balances decreased by 33 million XRP, while Upbit’s holdings rose by 11.5 million. A larger monthly drop of 1.63 billion XRP was attributed largely to an Uphold storage migration into untracked wallets; excluding this, the decline was 75 million XRP, or 0.54%. Even this adjusted figure may incorporate transfers to wallets not monitored by the tracker.

The price of XRP remained under pressure, with futures markets showing significantly higher activity than spot trading. On October 7, CoinGlass reported $3.97 billion in XRP futures turnover over 24 hours, compared to $801.56 million in covered spot volume. Open interest stood at $3.35 billion, reflecting the total value of outstanding derivative positions. While futures turnover was nearly five times that of spot markets, gross turnover measures trading volume rather than directional bias, making it unclear whether derivatives amplified price declines or merely responded to them. Open interest trends alone cannot confirm forced liquidations or leveraged unwinds without additional context from funding rates and liquidation data.

Broader cryptocurrency markets also showed softness. Bitcoin traded near $83,100 on October 7, down from $85,557.56 the previous day. The combination of modest ETF inflows, ambiguous on-chain movements, and elevated derivatives activity suggests a complex and unresolved market dynamic, with no clear signal of sustained buying or selling pressure from major actors.