XRP ETFs See Record Inflows Amid Falling Price
XRP ETFs have seen their best week of 2026 in terms of inflows, taking in $110.49 million between August 21 and 28, with cumulative inflows now reaching roughly $1.66 billion. However, the price of XRP has continued to fall, dropping towards $1.38 over the same period.
Despite this discrepancy, institutions are buying into XRP, with professional holders such as Goldman Sachs, Jane Street, and Millennium among the largest contributors to the inflows. Open interest in CME XRP futures also jumped 36%, making CME's share of the futures market around 17%.
The supply of XRP is also tightening, with balances on Binance, Upbit, and Bithumb falling by roughly 240 million tokens since late May.
The upcoming vote in the US Senate on September 15 may shed more light on the situation. The Digital Asset Market Clarity Act, which aims to draw firmer lines between SEC and CFTC jurisdiction over digital assets, is set for a cloture vote that afternoon. A successful vote would open the door to debate, amendments, and further votes.
However, the odds of the bill passing have collapsed, with prediction markets now putting 2026 passage at roughly 14%, down from about 82% in February. The obstacle is political rather than technical, with Democrats pushing for stronger provisions covering elected officials' crypto dealings as a condition of their support.
Standard Chartered's Geoffrey Kendrick has made his views on the situation explicit, cutting his $8 XRP target from April 2025 to $2.80 in February 2026 and making his longer-dated targets conditional on CLARITY passing and ETF inflows scaling past $4 billion.