XRP was holding near $1.37 as of noon Thursday Hong Kong time, according to CoinDesk market data, with new ETF and on-chain data suggesting some investors may be turning to XRP. Meanwhile, market leader Bitcoin Hovering near $77,400, Ethereum (eTH) remains under pressure.
CoinGlass data shows that XRP-related funds attracted $8.88 million in funds on the most recent trading day, continuing a series of positive inflows, including $18.52 million on May 14 and $10.87 million on May 15. The XRP product attracted approximately $42 million in net inflows over the past week.
This has concerned analysts as money has been leaving the largest listed crypto products. The Bitcoin ETF lost another $100.9 million in the latest trading day, after redemptions of $648.6 million, $331.1 million, and $290.4 million in the same period. Ether products also continued to be under pressure, with a loss of $32.6 million in the latest trading day.
The data suggests that there is selective interest in alternative cryptocurrency exposure, although XRP’s broader network growth trends remain weaker than late 2025 levels.
On-chain activity provides a second, albeit less clear, signal.
XRP hit its fourth-largest daily spike in wallet creation this year, with 4,300 new wallets added in 24 hours, according to blockchain analytics firm Santiment.
New wallet creation can sometimes mean new network participation, especially when combined with capital inflows.
But the broader sentiment chart points to caution.
XRP’s network growth has been on an overall downward trend since late 2025, making the latest moves look more like a sharp one-day spike rather than clear evidence of continued adoption.
The question for traders is whether XRP is in the early stages of a broader rotation into trading, or just a brief burst of speculative positioning while the broader cryptocurrency market remains under pressure.