Bitwise Leads $10.42M Outflow From XRP ETFs, Largest Since March 9

Spot XRP exchange-traded funds recorded $10.42 million in net outflows in the 24 hours through Tuesday, the largest single-day exit since March 9, and the XRP price slid to about $1.06 during the session before steadying. A negative print means creations fell short of redemptions, so the funds sold XRP out of their reserves to meet withdrawals, and this was the heaviest day for the products in roughly eight months. The aggregate is compiled from issuer-level creation and redemption disclosures, the same mechanics our guide to investing in crypto ETFs and funds describes, and it shows the redemptions were concentrated almost entirely in one product. Bitwise's XRP fund accounted for roughly $9.4 million of the total, about 90% of the day's outflows; one product, in other words, drove nearly the entire session's exit. Canary's XRPC posted $811,440 in net redemptions, and 21Shares' TOXR another $212,900. Franklin's XRPZ and Grayscale's GXRP ended the window with no net movement in either direction. The exits landed on a weak tape. Total cryptocurrency market capitalization fell about 1.31% over the same window and Bitcoin lost 1%, so the drop in XRP ran deeper than the broader altcoin market. On the chart, price left its descending channel to the downside and slipped beneath four major moving averages. The RSI, a momentum gauge that measures the balance between buying and selling pressure, fell to roughly 25, well into oversold territory; readings below 30 are conventionally read as oversold, though they can persist inside a downtrend. COINOTAG's live monitoring puts XRP near $1.05 at the time of writing, 0.7% above where it stood when the flow figures were compiled, though the token is still down 5.5% across 24 hours.

The cushion under the market is thin by our composite scoring, which rates each support and resistance level from 0 to 100 using the indicators that meet there. Nearest support sits at $1.0164 and scores 47, a moderate reading; overhead, $1.1254 carries a 99 resistance score, with the 0.786 Fibonacci retracement among the indicators converging at that level. Momentum agrees with the tape: RSI reads 23.14 on our live feed, the MACD signal is bearish and the trend label is a straightforward downtrend. Positioning has not followed price down yet. Open interest across XRP perpetuals stands near $706.5 million, and the long/short account ratio reads 3.69, meaning about 78.7% of accounts remain long. Our XRP technical analysis tracks both of those levels as the session develops.

Binance Funding Rate at One-Year High

While ETF holders were redeeming, leveraged traders were leaning the other way. Analyst Darkfost's reading of XRP perpetual futures on the crypto exchange Binance puts the funding rate at its highest level in a year, and Binance runs the deepest XRP perpetual market, which is why its print is the one traders watch. The funding rate is the periodic payment exchanged between long and short perpetual holders; when it runs high, long positions dominate and are paying to stay open. Perpetual futures never expire, so this fee is the mechanism that tethers their price to the spot market, and an elevated reading describes crowded longs rather than guaranteed upside. The last time the reading stood this elevated was October 2025, several months after XRP set its all-time high of $3.55. Darkfost frames the ETF net outflows as a stark contrast to the strength of long positioning on Binance. His argument is that anyone timing an entry needs to read cumulative funding and ETF flows side by side, because positioning can swing quickly in either direction. That divergence is the defining feature of the session: spot vehicles shed cash while the derivatives market added bullish exposure, and price still drifted lower under the weight of a broadly weak market. Our earlier report on the funding rate at 0.18% on Binance documented the same peak, and separate coverage followed the retreat that brought the $1 threshold back into view after an 18% slide from $1.34. What the funding figure cannot establish is whether that leverage has staying power. A one-year-high funding rate measures how accounts are positioned at a moment; it says nothing about their willingness to keep paying to hold those positions if spot redemptions continue.