Spot XRP ETFs saw their largest-ever daily net outflow as crypto markets turned risk-off. SoSoValue data dated January 21 showed $53.32 million leaving U.S.-listed spot XRP exchange-traded funds (ETFs) in the latest session.

The move came as XRP slipped below key levels and derivative positioning weakened. Traders also tracked fresh liquidations and signs of whale selling pressure.

Spot XRP ETF Outflows Set a Record as Grayscale GXRP Leads Redemptions

SoSoValue showed $55.39 million in redemptions from Grayscale’s GXRP ETF, which drove the day’s net outflow. Meanwhile, Franklin’s XRPZ ETF recorded $2.07 million in inflows.

Canary’s XRPC ETF, Bitwise’s XRP ETF (ticker: XRP), and 21Shares’ TOXR ETF recorded no daily net flow changes. Even so, the market logged its second net outflow after $40.80 million earlier this month, which 21Shares’ TOXR drove.

Total net inflows since launch now stand at $1.22 billion after the redemptions. SoSoValue listed assets under management (AuM) at $1.34 billion, down from $1.52 billion. Figures cited put the Canary XRP ETF, XRPC, about 23.9% below launch after peaking in the mid-$26 range.

GXRP closed at $36.99, down 8.19%, with 138.05K shares traded, while net assets stood at $231.79 million. XRPZ closed at $20.66, down 8.62%, with net assets of $290.15 million. XRPC ended at $20.26, down 8.49%, and net assets totaled $397.04 million. Bitwise’s XRP ETF closed at $21.33, down 8.53%, with $310.48 million in net assets.

TOXR closed at $18.62, down 8.14%, while volume reached 4.25 million shares. SoSoValue put the total value traded for the sector at $34.74 million.

XRP Price Weakens as Liquidations Rise and Futures Open Interest Falls

XRP weakened as bulls failed to hold above $2.35, and the token broke below $2. At last check, XRP traded close to $1.89 - $1.91, with an intraday range of $1.88 to $1.95.

The price action coincided with analysts pointing to selling pressure from whales and long-term holders. The current market structure echoed a 2022 pattern, where similar cohort behavior preceded an almost 60% decline.

CoinGlass data showed more than $11 million in XRP liquidations over the past 24 hours. Coinglass also pointed to declining trading volume. Derivatives metrics also softened. Total XRP futures open interest (OI) fell 2% in 24 hours to $3.35 billion, and it slipped almost 1% over the past four hours.

In a four-hour view, futures OI on CME, the Chicago Mercantile Exchange, fell nearly 0.50%, while Binance dropped about 1.10%. Those moves signaled traders reducing exposure as prices tested support.

XRP Support Levels in Focus Near $1.89 and the $1.80 Inflection Zone

Analyst Crypto Tony flagged $1.89 as the next support zone that bulls need to defend this week. A sustained break could push XRP toward $1.80, which the analysis described as an inflection point.

Market watchers also noted the potential for a triple-bottom attempt near $1.80 if buying returns. However, analysts outlined a deeper downside path toward $1 if selling accelerates. Technical indicators stayed bearish according to the data. XRP traded below its 50-day simple moving average (SMA) near $2.01 and below its 200-day SMA near $2.52.

Momentum metrics offered limited relief. The 14-day relative strength index (RSI) sat near 42, which suggested selling pressure eased but did not reverse.

Investors are watching Thursday’s US Personal Consumption Expenditures (PCE) inflation data and Friday’s Bank of Japan rate decision. Geopolitical tension linked to Trump tariffs and Donald Trump’s World Economic Forum 2026 remarks also remains in focus.

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