XRP Price Surges 35% on Institutional Investment Product Expansion

21Shares, an asset manager overseeing $11 billion in assets, has identified four key structural shifts in the XRP ecosystem as its price surges 35% this week. The company pointed to the expansion of institutional investment products, growing activity on the XRP Ledger, and increasing stablecoin liquidity.

The first shift is the significant role of U.S. spot XRP exchange-traded products (ETPs) in absorbing new supply. In the first half of 2026, these ETPs accounted for 14.8% of net new XRP supply, peaking above 50% in May.

Regulated investment products have attracted $367 million in inflows since the start of the year, with total assets now reaching $1.17 billion and cumulative inflows at $1.53 billion.

The second shift is XRP's relatively modest annual supply dilution, estimated by 21Shares to be approximately 5.5%. This is lower than that of Stellar's XLM (8.8%) and Toncoin (TON) (9.6%).

Stablecoin liquidity also represents a major structural shift, with $RLUSD expanding its supply by 1,131% through June 30, 2026, with more than half of the stablecoin's supply residing on the XRP Ledger.

The fourth and final shift concerns the relationship between XRP Ledger activity and revenue. Despite expanding settlement volumes, fee revenue has contracted.