Spot ETF demand has shifted toward XRP, with institutional inflows surging. Over five trading days from April 10 to 14, XRP ETF products recorded net inflows exceeding $21 million, including $11.2 million on April 14 alone. According to Sosovalue, the aggregate net assets of five XRP ETFs now represent 1.17% of the altcoin's total market capitalization, with cumulative net inflows reaching $1.23 billion.
ETF Demand Race: XRP Surpasses Solana as Second-Largest Altcoin
In ETF-driven asset accumulation, XRP's net assets now trail only Ether's, overtaking Solana. Solana had previously led in ETF inflows but lost ground after a market dip and a technical setback — the Drift Protocol hack. Yet by on-chain activity and total value locked (TVL), Solana remains ahead. XRP's ETF appeal stems more from institutional bets on its real-world asset (RWA) tokenization potential than from current on-chain usage.
RLUSD Supply Nears $1.5 Billion; XRP Ledger On-Chain Metrics Remain Weak
Ripple's USD-pegged stablecoin RLUSD has seen its circulating supply rise week-over-week, though month-over-month supply on Ethereum has trended lower. The total supply is approaching $1.5 billion. In contrast, XRP Ledger's on-chain fundamentals remain modest: TVL below $50 million and decentralized exchange (DEX) volumes under $6 million. The ledger hosts 21 active protocols, with Ondo being the largest. Ondo's expansion to 12 blockchains could become a catalyst for XRP Ledger's RWA ecosystem, but the outcome remains uncertain. Much of investor enthusiasm for XRP centers on expectations that it will eventually unlock tens of billions of dollars in RWA potential.
Price Range Tightens; Third Breakout Attempt Emerges
Mirroring Bitcoin's recent sideways drift, XRP price action has been trapped in a tight band. The token repeatedly tested resistance between $1.31 and $1.50, with two breakout attempts since mid-April failing to hold. Now, early signs suggest a third attempt is forming. If XRP can close above $1.44, analysts believe the path to $1.83 could open quickly. Recent news flow has turned more bullish. Despite macro uncertainty, XRP continues to attract capital on the back of ETF developments and the RWA narrative. The coming weeks will be critical to see if institutional inflows and improving geopolitical conditions can trigger a sustained breakout.