XRP moved back above $2 on Friday, its first break over that level since mid-December. The token was up about 8% on the day, extending a strong opening to 2026. Traders tied the move to two immediate drivers: continued inflows into U.S. spot XRP ETFs and a shift in expectations around the U.S. regulatory climate.
Spot XRP ETFs Add Another $13.59 Million
Data cited from SoSoValue showed that U.S. spot XRP ETFs recorded $13.59 million in inflows on Jan. 2. That pushed total inflows since launch to $1.18 billion. Consistent demand through ETF products has helped improve XRP’s near-term supply-demand balance. The contrast was notable because broader crypto benchmarks were still trading in a relatively tight range.
Crenshaw Exit Feeds Expectations of a Softer SEC Tone
Traders also recalibrated their view of the SEC after Commissioner Caroline Crenshaw left the agency. Some participants saw her departure as removing an obstacle to a more crypto-friendly policy stance. Market commentary described Crenshaw as one of the SEC’s most vocal critics of crypto spot ETFs, and it also noted that she had opposed the agency dropping its appeal in the Ripple case.
Legislative Speculation Adds to XRP’s Momentum
Policy speculation added another layer to the rally. Traders pointed to a possible markup of the Market Structure Bill on Jan. 15, a date that has kept policy expectations elevated heading into the first quarter. That helped XRP outperform even as flows into other major crypto ETFs were mixed.
The same data set cited by analysts showed softer demand for bitcoin funds over the period. That reinforced the view that XRP’s advance was being driven by token-specific catalysts rather than a broad market risk bid. XRP was last trading just above $2, while bitcoin hovered above $90,000 and ether changed hands around $3,000, with both posting only modest gains on the day.