XRP slipped 2.1% on the day, caught in a market-wide crypto selloff that has little to do with the token itself. The more telling signal for holders sits elsewhere: the money flowing through US spot ETFs, and a pair of technical projects on the XRP Ledger that won't be judged for years.
Five Days, $18 Million Out the Door
Over the five trading sessions through Thursday, US spot XRP ETFs bled a net $18.0 million, according to media reports — a concrete read on just how tepid demand has been. Thursday's session showed the split clearly. Grayscale's GXRP shed $5.3 million while Franklin Templeton's XRPZ pulled in $4.3 million, leaving a net outflow of roughly $1.0 million. Inflows at one issuer are a sign of selective buying, but they only matter once they fully offset the redemptions on the other side. For now the ledger of fund flows still tilts toward withdrawals.
The Macro Backdrop Did the Damage
The broader environment was already hostile. A firmer US dollar and mounting expectations of a possible Federal Reserve rate hike weighed on prices, with stronger-than-expected inflation data driving the reassessment. Forced unwinding added fuel: liquidations of leveraged crypto positions topped $1.6 billion in a single day, and those forced sales can magnify selling pressure across the entire market. XRP was swept up in that retreat alongside other major tokens. The ETF figures add an XRP-specific demand gauge, but the day's move belongs to the wider market story.
Should investors sell immediately? Or is it worth buying XRP?
A Lending Protocol Inches Toward Activation
On the technical front, the proposed lending protocol for the XRP Ledger picked up ground on Thursday, with validator support rising from 19 to 22 votes. Activation requires 29. The approval threshold must also hold for two consecutive weeks — and it applies to both the lending protocol and the accompanying change known as SingleAssetVault. The added votes move the proposal closer to going live, provided the remaining support arrives and then sticks around long enough.
Quantum-Resistant Accounts: A 2027–2028 Horizon
A separate proposal unveiled Tuesday takes aim at a much longer threat. Users would be able to add quantum-resistant signature keys to their accounts and deactivate existing keys, adapting account security to possible future technical risks. The draft is neither approved nor available on the live network. Migration research is slated for 2027, with development and security audits to follow. Ripple has set 2028 as the target for a broader transition. The plan's value lies in laying out a concrete migration path for existing accounts — though its practical worth depends on those later development and review stages succeeding and the proposal winning the necessary approval.
Two Dates to Watch
A calendar item is already fixed: a testnet and devnet reset is scheduled for November 25, 2026. According to the XRP Ledger, the move will address stability problems in servers handling full history, and data on both development networks will be wiped. Ripple says the mainnet will keep running as normal throughout.
For holders, the checklist splits cleanly. Near term, the question is whether spot ETF flows steady. On the network side, it's whether the lending protocol clears its activation bar — and, further out, whether the quantum work advances from planned research to audited implementation. The technical timeline stretches well beyond the current bout of market weakness.
Ad
XRP Stock: New Analysis - 14 November
Fresh XRP information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
