XRP spot ETF products attracted $131.94 million in May, their best month of 2026, according to SoSoValue. The flows stand in sharp contrast to the rest of the market: Bitcoin ETFs shed $2.43 billion over the same period, and Ethereum funds lost $540.88 million. Since launch, XRP ETFs have posted only one negative month — a $31.16 million outflow back in March.
Inflows diverge from the pack
The May haul isn't a one-off. Early June saw another $4.13 million trickle into XRP ETFs, even as the token's price slipped. That resilience suggests institutional interest hasn't faded, despite the broader crypto downturn. Bitcoin ETFs, by comparison, have been bleeding since early spring. Ethereum funds aren't faring much better.
Liquidity hits a low
On May 26, CryptoQuant flagged that XRP liquidity on Binance had dropped to its lowest level since January 2020. That thin order book means large trades can move the market more easily — a double-edged sword for traders. Analyst ArabxChain noted the low liquidity could make the market more sensitive to sudden price moves.
Holders add while prices dip
Long-term XRP holders appear unfazed by the price drop. The hodler net position change rose to about 264.67 million XRP on June 2, up from roughly 216.56 million on May 31 — a 22% increase in a few days. That accumulation into weakness signals conviction, not panic. Meanwhile, selling volume has been rising since May 30, suggesting retail traders may have been dumping.
Key levels to watch
XRP dropped roughly 53% earlier in 2026, then traded inside a rising parallel channel since early February. The recent sell-off tested the channel floor: XRP fell to $1.18 before bouncing to near $1.21, holding better than Bitcoin and Ethereum. The bullish path requires staying above $1.20 and reclaiming $1.28 and $1.35 — the latter aligns with the 0.618 Fibonacci level, hinting at a potential 12.5% rebound. Lose the floor at $1.18, and support comes in at $1.11 and then $0.95. A bearish trigger would be if ETF inflows stall and holders turn sellers while Bitcoin continues to drag the market.
