NEW YORK, June 26, 2026, 13:08 EDT — XRP remained near the $1 mark on Friday, trading at $1.045 after briefly dipping to an intraday low of $1.011. The token posted a modest 1.5% gain over the past 24 hours, but the weekly performance tells a different story, with a 7.39% decline that has tested investor sentiment.
ETF Inflows Remain Minimal Compared to Futures Activity
Spot XRP ETFs in the United States recorded net inflows of just $2.05 million on June 24, according to Sosovalue data. This figure pales in comparison to the broader market activity: CoinGlass reported $678.4 million in spot volume and a staggering $2.76 billion in XRP futures volume over the same 24-hour period. ETF inflows represented only 0.3% of spot turnover and a mere 0.07% of futures turnover, highlighting the outsized role of leveraged trading in driving XRP's price action.
The Grayscale XRP Trust ETF (GXRP) accounted for the $2.05 million inflow on June 24, bringing its total net inflows to $131 million. SoSoValue data indicated that total XRP spot ETF net asset value stood at $928 million, with historical inflows reaching $1.45 billion. Despite these figures, ETF demand remains a fraction of the overall market, leaving XRP's price heavily influenced by futures positions rather than institutional buying.
Futures Market Dominates and Open Interest Holds Steady
The futures market for XRP was roughly four times larger than the spot market over the past 24 hours, with open interest at $2.34 billion, as per CoinGlass. This dynamic suggests that price movements are primarily driven by leverage and speculative activity, rather than organic demand from ETFs. The token's 7.39% weekly drop reflects this vulnerability, as selling pressure in the futures market has overshadowed any ETF-driven support.
Network Activity and Revenue Remain Low
Despite a market capitalization of approximately $65.1 billion, XRP's network usage remains minimal. CoinGecko data shows 24-hour trading volume at roughly $2.52 billion, but network fees totaled just $4,262, with project revenue at $455. This disconnect between market cap and network activity has drawn criticism from industry observers. Bitwise CIO Matt Hougan told DL News earlier this year that XRP ETF inflows were “exceeding my expectations,” but added that XRP was still “figuring out its product-market fit.” Brian Huang, co-founder of Glider, countered, saying, “Without builders, expect minimal growth for XRP.”
Traditional Funds Expand Access to XRP
Franklin Resources Inc (NYSE:BEN) is among the traditional asset managers offering exposure to XRP through its Franklin XRP ETF (XRPZ). The fund, which began trading on NYSE Arca on November 24, 2025, aims to track the price of XRP before expenses. This move reflects growing institutional interest, though the impact on price remains limited compared to the broader futures market.
Regulatory Developments Could Shape Future
In a development that could influence XRP's trading dynamics, the SEC and CFTC opened a comment period on portfolio margining for securities, security-based swaps, futures, swaps, and related assets. SEC Chairman Paul S. Atkins described cross-margining as a way to “unlock liquidity.” This regulatory shift may tie XRP's price more closely to futures and collateral rules rather than its underlying fee base, potentially amplifying the influence of leveraged positions.
Technical Outlook and Key Levels
For XRP bulls, holding above the $1.011 intraday low is critical to sustaining any rebound. However, ETF inflows would need to surpass the $2.05 million print from June 24 to signal stronger demand. For now, price action around $1 remains shaped by leveraged positions more than spot ETF buying, leaving the token vulnerable to further volatility.
