XRPI and XRPR ETFs Slide as SEC Delays XRP ETF Approvals

XRP ETFs XRPI and XRPR Under Pressure Ahead of SEC Decision Window

The XRP ETF market entered a volatile stretch as XRPI and XRPR both declined sharply, mirroring the broader crypto sector’s uncertainty around pending ETF approvals. The SPDR-style XRPI ETF (NYSEARCA:XRPI) dropped 4.18% to $16.75, while the REX-Osprey XRP ETF (XRPR) fell 4.53% to $22.97. Combined, the two funds represent nearly $400 million in managed exposure to XRP’s futures and derivatives markets.

The declines came as the SEC delayed decisions on six spot XRP ETF applications, pushing final rulings to October 18–25, 2025. This delay triggered cautious positioning from retail investors but also coincided with institutional inflows into physical XRP holdings — a divergence suggesting accumulation beneath the surface.

Institutional Accumulation Hits $1.1B as Retail Confidence Cools

Despite short-term weakness, on-chain data confirmed that whales and institutional wallets added over $1.1 billion in XRP this week. This figure includes new holdings tracked across both XRPI-linked custodians and independent wallets.

At the same time, $1.9 billion in leveraged liquidations swept through retail accounts, freeing liquidity that whales appear to have absorbed. Exchange data shows an unusually strong concentration of buy orders between $2.75–$2.80, reinforcing the psychological support zone that aligns with the $2.79 spot price.

XRPI ETF: Futures Exposure and 0.94% Expense Ratio

The XRPI ETF, managed by Volatility Shares LLC, provides exposure to CFTC-regulated XRP futures contracts. It trades between $16.66 and $17.03 with $198.82 million in assets and an expense ratio of 0.94%. Despite showing 0.00% YTD return, its trading volume surged to 449,000 shares, reflecting elevated speculative interest as the ETF decision window approaches.

Its 52-week range ($12.69–$23.53) mirrors XRP’s underlying volatility, positioning XRPI as a proxy for sentiment around institutional acceptance of Ripple’s ecosystem.

XRPR ETF: Spot Exposure With Broader Market Sentiment Correlation

The XRPR ETF, a product of REX-Osprey, extends XRP access to retail and institutional traders via regulated equity exchanges. Closing at $22.97, XRPR mirrored XRP’s on-chain movement while maintaining a tighter correlation to sentiment in U.S. and Asian trading sessions.

The ETF’s average daily volume of 481,000 shares indicates robust liquidity, while its 52-week range ($22.31–$25.99) underscores resilience despite market-wide corrections. XRPR’s design—combining synthetic exposure and liquidity provider backing—positions it to capture the upside once the SEC clears the first wave of spot XRP products.

October’s Twin Catalysts: ETF Approvals and Ripple Bank Charter

Ripple’s upcoming U.S. national bank charter application adds a parallel catalyst to the ETF narrative. Approval could allow Ripple to operate as a regulated financial institution, bridging blockchain infrastructure directly into the U.S. banking system.

Analysts estimate $5–$8 billion in potential ETF inflows if even one of the six pending applications gains approval. Such inflows would rival early Bitcoin ETF adoption phases, likely pushing XRP beyond $3.10 resistance and toward the $3.60–$6.20 zone identified in technical projections.

Technical Landscape: $2.79 Holds, $3.10 Breakout Key for XRP-USD

XRP-USD is consolidating near $2.79, forming a critical base supported by over 2.5 billion XRP tokens acquired at this level. Analysts highlight the $2.70 floor as a must-hold zone; a close below it risks a slide to $2.55, the 200-day SMA.

On the upside, breaking $3.08–$3.12 could confirm a cup-and-handle breakout, with technical targets pointing toward $6.20, a 120% potential gain from current prices.

Momentum remains neutral: RSI at 41.5 reflects consolidation, while the Awesome Oscillator and MACD indicate short-term weakness but no breakdown of long-term trend structure.

Leveraged and Yield-Based XRP ETFs Enter the Arena

GraniteShares has filed for both 3× long and 3× short XRP ETFs, marking a new phase of institutional experimentation. Additional filings propose covered-call ETFs tied to XRP, a yield-generating format designed to attract traditional investors seeking stable income streams within the digital asset space.

If approved, these ETF structures could significantly boost liquidity and volatility while integrating XRP into diversified portfolios across major U.S. brokerages.

Macro and Market Context: Delays, Fed Policy, and Cross-Market Rotation

The SEC’s extended timelines coincided with a U.S. government shutdown and slower progress on crypto regulation in Congress. Broader macro signals, including Fed rate cut expectations in Q1 2026 and 3.8% GDP growth, suggest renewed investor risk appetite once clarity returns.

Crypto market capitalizations remain heavy, with Bitcoin at $121,000 (-1.6%) and Ethereum at $4,342 (-3.7%), while BNB overtook XRP in total valuation this week, reshuffling altcoin dominance. Despite this, institutional demand for XRP-linked ETFs remains intact.

Verdict: BUY — Institutional Rotation Signals Pre-Breakout Phase for XRPI and XRPR

While both XRPI ($16.75) and XRPR ($22.97) have declined in the short term, the underlying market data favors accumulation. Institutional inflows, whale positioning, and Ripple’s dual regulatory catalysts signal structural strength beneath short-term weakness.

If ETF approvals proceed and Ripple secures its banking license, both XRPI and XRPR could see rapid capital inflows, potentially driving XRP-USD beyond $3.50, with long-term potential toward $6.00–$6.20.

Final Rating: BUY (Bullish) — Both XRPI and XRPR represent strategic exposure to XRP’s institutional evolution. With $1.1B in whale accumulation, $8B potential ETF inflows, and price stability around $2.79, XRP remains one of the strongest asymmetric opportunities in digital assets ahead of October’s SEC decision window.

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