XRP Whale Accumulation Runs Into an ETF Wall as Ledger Closes a Token Permission Loophole

Large XRP holders added roughly 60 million tokens over the past week, yet the same stretch brought no fresh capital through US spot ETFs — a split-screen demand picture that leaves the asset caught between selective buying and broad risk aversion. XRP last changed hands at 1.16 USD, with a separate reading later in the week putting it at 1.17 USD.

ETF flows stall after a single outflow

Canary Capital's XRPC posted a net outflow of 529,500 USD on Monday. Four trading sessions of zero net movement followed, leaving the fund without fresh money for the entire week. That pattern — an initial withdrawal followed by standstill — points to caution among ETF buyers rather than mounting selling pressure through the vehicle. XRP products also held up better than the wider crypto fund complex, which saw substantial redemptions, though relative stability only becomes a demand tailwind once investors start adding capital again.

Whales build while exchange wallets drain

Wallet data cited in media reports showed large holders stocking up by about 60 million XRP in the preceding week. A further 13.24 million XRP left exchange wallets on Thursday. The accumulation signals genuine appetite within that cohort; the exchange withdrawals are harder to read, since it is unclear whether the same tokens ended up with the big holders. The two observations stand on their own.

What matters for the demand picture is the contrast: large wallets expanded positions while no new money arrived via US spot ETFs. Buying was concentrated in one corner of the market.

A weak backdrop weighs on price

Those opposing signals landed in a soft market. XRP came under pressure alongside other cryptocurrencies, with reports tying the retreat to steep losses in US tech stocks and heavy liquidations across crypto. For demand to broaden, ETF investors would need to join the whales in committing capital. Until then, selective buying from individual participants remains the counterweight to wider selling pressure.

Ledger patches a permission flaw

Separately, the XRP Ledger closed an authorization gap on Wednesday. The amendment fixCleanup3_4_0, activated at 14:52 UTC, fixes a bug in the handling of issued tokens: under certain conditions, accounts holding permission to burn issued tokens could also create them. The change severs that faulty link between permissions. XRP itself was outside the affected scope, and no exploitation had been publicly confirmed. The concrete gain is corrected access control inside the ledger.

Escrow release and immediate re-lock

On November 1, Ripple released 1 billion XRP from escrow on its regular monthly schedule. By the same day, 700 million XRP had been locked up again, according to blockchain analyses reported in the media. Release and re-lock belong together when assessing supply: selling pressure could only be attributed to the release if actual sales were proven. The movements document the monthly routine and the subsequent re-commitment of a substantial chunk of the tokens.

Custody rails take shape

BNY expanded its digital asset custody platform to include XRP and RLUSD on October 27, serving eligible institutional clients and building on its existing relationship with Ripple. A day earlier, the Office of the Comptroller of the Currency granted final approval for Ripple National Trust Bank, which is slated once operational to manage RLUSD reserves and offer fiduciary custody services for digital assets. For XRP, the BNY listing carries the more direct link; the bank charter extends Ripple's planned infrastructure, provided operations begin. Taken with the closed permission gap, the developments mark tangible progress on both technical safeguards and institutional access.