The XRP market delivered a surprising signal at a moment when price action suggested caution rather than confidence. While spot traders reacted to short-term weakness, activity behind regulated investment products told a more complex story. The divergence between price movement and institutional trading behavior has now become impossible to ignore.
Crypto commentator Chad Steingraber highlighted the shift after XRP spot ETFs in the United States posted their strongest trading session on record. Data from January 29, 2026, shows that the seven approved XRP ETFs collectively generated $74.34 million in daily trading volume, marking a new all-time high for the product category and surpassing previous peaks.
ETF Trading Activity Reaches New Highs
The surge in volume reflected intense institutional engagement across multiple issuers rather than isolated activity. Bitwise led the market with approximately $24.35 million in daily turnover, while Grayscale followed closely with $23.13 million. Together, the two firms accounted for a significant share of total ETF activity, confirming that demand extended beyond a single fund.
Record breaking day for the XRP ETF's!!
$74.34Million in total volume. 🥳🎉 https://t.co/0dfXnwAxdF pic.twitter.com/GZPPv9r1xP
— Chad Steingraber (@ChadSteingraber) January 29, 2026
Other XRP ETFs also recorded elevated volumes, reinforcing the view that investors actively rotated positions rather than exiting the market entirely. This broad participation underscored sustained interest in XRP exposure through regulated channels.
Heavy Outflows Fail to Disrupt Market Stability
Despite the record-breaking volume, the same trading session recorded a net outflow of $92.92 million across XRP ETFs. Under normal conditions, outflows of that size often trigger sharp price reactions. However, XRP held near $1.80 throughout much of the day before slipping below that level.
XRP now trades around $1.76, suggesting that the market absorbed sell pressure efficiently. This behavior points to active two-way trading, with buyers stepping in quickly as sellers exited positions.
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Price Action vs Institutional Positioning
The contrast between ETF activity and spot price movement highlights a growing disconnect. ETFs operate as paper-based instruments and do not directly move on-chain XRP liquidity. As a result, XRP’s spot price can decline even as ETF trading volume expands rapidly.
This separation explains how XRP ETFs can experience record activity while the underlying asset consolidates or retraces. For institutions, volume reflects positioning, hedging, and exposure management rather than immediate price expectations.
What This Means Going Forward
Sustained ETF volume often signals structural demand rather than speculative hype. While XRP’s short-term price remains under pressure, the ability of the market to handle large ETF flows without destabilization suggests underlying strength.
As XRP consolidates near current levels, traders and analysts continue to watch whether consistent institutional engagement through ETFs eventually translates into renewed momentum in the spot market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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