November marked the launch of U.S. XRP ETFs. This catalyst considerably boosted market demand for XRP. It additionally performed an important function in serving to XRP resist promoting strain pushed by the general damaging market sentiment.
This shift left a number of notable on-chain indicators. Analysts interpret these indicators as a constructive signal for XRP to take care of its upward momentum.
How Did ETF Demand Drive XRP Accumulation on Exchanges in November?
On-chain information from CryptoQuant, as of November 27, 2025, indicated that the XRP steadiness held on Binance had dropped to a 12-month low of two.71 billion XRP.
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A more in-depth take a look at the chart indicated that Binance’s XRP reserves started declining after November 14. Roughly 100 million XRP was withdrawn from the alternate. This section aligned exactly with the official launch of spot XRP ETFs in the USA.
XRP Change Reserve – Binance. Supply: CryptoQuant.
SoSoValue information additionally confirmed that from November 14 onward, 4 XRP ETFs — Canary, Bitwise, Grayscale, and Franklin — recorded constructive internet inflows for 9 consecutive days. Because of this, the whole belongings held by these ETFs exceeded $670 million.
Shopping for strain is predicted to strengthen additional within the coming days. Analysts anticipate that the 21Shares XRP ETF will quickly be listed.
CryptoQuant analyst Darfost famous in his newest evaluation that the sharp decline in XRP reserves on Binance, following the launch of a spot ETF, signifies that extra XRP is being transferred into the palms of long-term holders.
“Fewer tokens available on trading platforms, combined with growing institutional demand, create a potentially powerful setup. If this trend continues, XRP could move into a more structured phase with an expanding institutional interest.” Darfost defined.
Nonetheless, analyst Vincent Van Code offered a extra in-depth clarification of the connection between XRP ETFs and general market demand.
He argued that ETF purchases from open markets don’t at all times instantly push costs up. ETF demand should soak up the amount of XRP that Ripple unlocks from its escrow provide.
“Don’t forget ETF managers cannot buy XRP directly from Ripple or from escrow due to court injunction. They must buy from the open market. This means price may not rise sharply at first, as Ripple sells its monthly escrow while ETFs absorb supply at a similar pace.” Vincent defined.
Current evaluation from BeInCrypto emphasised the significance of the two USD value degree. Holding above this zone might sign a basis for additional upside motion within the days forward.
