- Chad Steingraber says coming week marks first time five XRP ETFs trade together
- 21Shares XRP ETF launches today joining Canary, Bitwise, Grayscale and Franklin products
- ETF inflows reached $666M in under one month with no outflows recorded across sessions
The coming days could mark a turning point for XRP as the market enters the first full week with five pure spot XRP ETFs trading simultaneously. Analyst Chad Steingraber stated this competitive environment will reveal how aggressively issuers plan to accumulate XRP over the long term.
The 21Shares XRP ETF (TOXR) launches today, joining products from Canary Capital, Bitwise, Grayscale, and Franklin Templeton. This creates the first trading week featuring all five funds operating side by side in the U.S. market.
Steingraber Expects Week to Reveal Accumulation Patterns
Steingraber stated this setup will provide substantial information about institutional accumulation going forward. ETF inflows have crossed $666 million in less than one month with zero outflows through ten consecutive trading sessions.
Bitwise increased its holdings to 80.5 million Ripple coins last week. Canary Capital, Grayscale, and Franklin Templeton also recorded steady inflows during the same period. Steingraber believes these patterns represent early stages of a larger demand wave that will intensify as all U.S. XRP ETFs operate together.
Financial analyst Mohamed Bangura conducted a price-path sensitivity simulation that Steingraber highlighted. Bangura used assumptions including 74.5 million XRP daily demand from ETFs, 2.7 billion XRP total exchange supply, and 300 million XRP escrow release every 30 days. Elasticity values ranged from 0.2 to 1.0 over 180 days.
Lower elasticity leads to rapid exchange supply depletion, while higher elasticity results in sharper price movements as OTC liquidity absorbs inflows. Bangura described the model’s outcome as “wild” even without factoring in retail buying pressure.
Jake Claver, CEO of Digital Ascension Group, warned that OTC and dark-pool liquidity may approach exhaustion. He estimates that 800 million XRP of private liquidity has been absorbed in the first week of ETF accumulation alone. This represents nearly half of what Claver believes was available across OTC venues.
XRP ETFs currently hold more than $687 million in assets, accounting for over 300 million XRP. ETF accumulation occurs off-exchange, so price action has not yet reflected the tightening supply. Claver stated that true volatility will begin when ETFs exhaust OTC channels and must source liquidity directly from exchanges.
