Canary Capital's $2.47 Million Redemption Ends XRP ETFs' 13-Week Inflow Streak

A Net $1.84 Million Week

The first crack in US demand for spot XRP funds showed up in the weekly ledger. Over the October 12–16 trading week, the cohort of United States spot XRP exchange-traded funds logged roughly $1.84 million of net withdrawals, ending a run of 13 consecutive weeks of inflows, according to data from the flow tracker SoSoValue. A net outflow, in fund terms, means investors redeemed more from the products than they subscribed over the period, so the figure is a difference, not a one-way count of selling. Total net inflows into the cohort stood near $1.8 billion by mid-October, which frames the weekly swing as a wobble rather than an exodus.

The daily split shows exactly how the balance tipped. The funds were largely flat early in the week, then absorbed about $740,000 on Wednesday. The decisive move came on Friday, when a single redemption of roughly $2.47 million pushed the weekly total into negative territory. Most of that withdrawal was attributed to Canary Capital's XRPC product. Without that redemption, the week would have closed at roughly $630,000 of net inflow instead of a net outflow, which is why the makeup of the outflow matters as much as its size.

Against the fund-flow turn, the token itself has held its ground. The XRP price sits near $1.31 in our live monitoring, up 1.5% over the past 24 hours, so the first outflow week in three months has not translated into selling pressure on the token so far. The swing is also the first demand wobble for XRP ETF flows in three months. It is the break allocators will read first: thirteen straight weeks of net creations is a long run for any fund cohort, however small the dollar figure.

Ledger Payments Fall 72.3% in a Day

Network activity flashed its own caution inside the same window. Payment volume on the XRP Ledger, the layer-1 blockchain protocol that settles the token's native transfers, dropped to 119.5 million XRP on Saturday, October 17, a 72.3% single-day fall, according to XRPSCAN on-chain data. That print sits well under the 629.3 million XRP that marks the ledger's 30-day average, and it arrived in one session, a reminder of how quickly throughput on a payments network can swing.

The metric has form for this kind of move. XRPSCAN's record shows the network's all-time high for payment volume stands near 7 billion XRP, and the series has historically been volatile: short-lived spikes followed by sharp pullbacks are the pattern, not the exception. In practice the series spends most of its time well under that peak, so the peak is a poor benchmark; the 30-day average is the fairer comparator, and Saturday's print missed it by more than five times. The count also measures value moved from account to account, not dollars entering a fund wrapper, so it tracks end-user demand rather than institutional allocation. The ledger's growing role as a PayFi rail adds a second reason the figure matters: payment throughput doubles as a gauge of real settlement use. Analysts tracking the network deliver the same caveat: a single suppressed day is a data point, not a trend.

The live question is whether activity rebounds over the coming sessions. If payment volume stays pinned near 119.5 million XRP while ETF flows stay negative or muted, the short-term demand picture would weaken on both fronts, institutional and network-level. If throughput snaps back toward the 629.3 million XRP norm, Friday's redemption and Saturday's payment slump will read as noise rather than the start of a turn.

The strongest support sits at $1.2576, rated 100/100 on COINOTAG's composite scoring, and it lies inside the $1.24–$1.32 demand zone from earlier coverage. Resistance begins at $1.3218, scored 76 out of 100; a daily close above it would be the first evidence the wobble has passed, and our XRP technical analysis page maps the wider ladder. Derivatives stayed calm through the outflow week: perpetual futures funding ran at 0.0061% and the long/short ratio stood at 3.45, with 77.5% of accounts long. The wider altcoin market reads 59/100 on the Fear & Greed Index, which makes the cooling here coin-specific. Prediction markets carry their own line, with Kalshi traders' year-end XRP odds lifted to 24% in one session. And the weekly balance nets two opposite moves: a $740,000 Wednesday inflow against Friday's $2.47 million redemption, so the composition behind the headline is the part to watch.