$XRP ETFs Outperform Token by 100% Amid Supply-Demand Imbalance

A sharp price imbalance has emerged in the U.S. stock market between spot $XRP and its related ETFs. While the token itself is up by 7-8% in a single day, some regulated funds have surged by as much as 16-17%. CryptoQuant analyst Xaif_Crypto first drew attention to this anomaly.

According to his post, all seven spot $XRP ETFs in the U.S. entered the green during trading hours on September 3, recording an interim trading volume of $19.7 million. Meanwhile, $XRP itself was trading around $1.44 at the time, up 7.04% over the past 24 hours.

The performance of these funds diverged from the spot market, with major players Bitwise ($XRP: +8.47%) and Franklin Templeton (XRPZ: +8.36%) moving in line with the token's price. However, less liquid funds such as Grayscale shares (XXRP) are up 17.10%, XRPT has gained 16.78%, and UXRP has risen 17.01%.

This divergence is likely linked to a local supply-and-demand distortion in U.S. exchange order books, with the sharp move in $XRP triggering a short-term shortage of sellers in these funds. As a result, market orders began pushing ETF share prices higher, creating a substantial premium to their net asset value (NAV).

Interestingly, data from SoSoValue reveals that this surge in prices is taking place without any inflow of new capital. In fact, the sector closed the previous session with net outflows of $7.20 million, largely due to profit-taking by large investors.