Market participants continue to study new signals from the XRP ecosystem as recent comments from Jake Claver add fresh context to current supply behavior.
His remarks arrived during a period of active trading, rising institutional interest, and closer monitoring of exchange data. The remarks also prompt a closer look at how quickly new spot ETF products may impact available liquidity.
Rising OTC Demand Sets the Stage
Claver described a sharp drawdown in off-exchange supply during the first week of ETF activity. This follows a prolonged trend of shrinking supply on exchanges. He said his original estimate suggested between 1 and 2 billion XRP sat in OTC and dark pool channels before the recent wave of purchases.
Jake's update on XRP ETFs
Expected filings
Supply levels$XRP $XLM $SHX $VELO $HBAR $QNT $FLR $BTC $ETH $SOL #ISO20022 #Blockchain #Crypto @beyond_broke #Ripple #Blackrock pic.twitter.com/TsQI2BuPK4— three.lions66 (@three__lions66) November 25, 2025
He then stated that ETFs have “already eaten through about 800 million XRP” in a short period. He argued that this level of consumption leaves only a limited amount of accessible supply outside public exchanges.
His assessment places concentrated pressure on sources that large buyers often use to avoid market disruption. He noted that this volume may represent “either half or almost all” of the available OTC and dark pool reserves. The speed of that drawdown frames the next phase of ETF development, which he expects to arrive soon.
Expectation of Additional Filings
Claver said new spot XRP ETF products remain likely. He also said the market has not yet seen what he called the “big dogs at the table.” The market is still in its early stages, and he listed BlackRock, Vanguard, and Fidelity as firms that he expects to file their own products.
He then said, “I think they’re all coming to the table in the very near future.” His view places the potential ETF count for XRP ahead of Bitcoin if those firms proceed. The possibility of new filings adds weight to his focus on supply.
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He argued that buyers will face a different environment once OTC and dark pool channels exhaust remaining reserves. His remarks rely on the idea that future ETF issuers will need to source XRP directly from exchanges if off-exchange supply tightens.
Exchange Activity Shows Early Signals
Claver pointed to a recent XRP high of $91 on Kraken. He believes that this offered a glimmer of what could happen when ETFs move from OTC channels to public exchanges.
He argued that buyers will shift to open markets once the remaining OTC supply disappears. He added that observers may feel surprised if his views materialize, noting that his outlook aligns with what he has discussed for the past 18 months.
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 advised to conduct thorough 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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