Every dollar of net inflow into U.S. spot XRP ETFs on September 28 ran through a single fund, Canary Capital's XRPC, while rival issuers posted flat flows. XRP itself traded near $1.48, caught inside a narrow technical range with $1.53 and $1.55 as the next resistance levels. A pending Nasdaq listing vote and a network upgrade add to the backdrop.
XRP's near-term setup is being tested by fresh institutional-flow data and network developments, even as the token sits inside a tight trading band. On September 28, Canary Capital's XRPC absorbed the entire $3.96 million net creation into the U.S. spot XRP ETF complex, while Bitwise, Franklin Templeton and every other issuer recorded no net movement that session.
That concentration pushed Canary's cumulative net inflows to roughly $493 million, with the broader U.S. XRP spot ETF complex now near $1.79 billion in lifetime net inflows and assets under management around $1.68 billion. By comparison, Bitcoin ETFs added $31.07 million and Ethereum $17.10 million the same day, leaving the XRP print smaller but more concentrated in a single fund.
Institutional positioning builds beneath the ETF flows
The pattern follows a stronger week: spot XRP ETF inflows topped $75.6 million between September 21 and 25. Of that, $22.65 million arrived on September 25 alone, lifting cumulative inflows to about $1.79 billion as of that date. Meanwhile, Goldman Sachs disclosed 1.76 million XRPC shares in recent 13F filings. Separately, Citadel built a book of 79,500 XRPC call contracts, signaling that Wall Street desks are treating XRP wrappers as standard portfolio positions rather than speculative bets.
Network activity has moved in step. XRPLF released xrpld version 3.4.0 on September 17, adding LendingProtocolV1_1 features including closed-ended vaults and cash-basis accounting. Separately, Evernorth and Armada Acquisition Corp. II are due to put their proposed transaction to a shareholder vote on September 30; if approved, the combined company would list on Nasdaq as XRPN and run an XRP-focused treasury.
XRP holds a narrow range between $1.45 and $1.55
Despite the flow and network news, the chart shows balance rather than a breakout. XRP traded near $1.48 on September 28, with the hourly RSI at 54.88 and the daily reading at 56.71 — both neutral. The one-hour MACD stood at -0.003491 against a -0.005051 signal line, also classified as neutral, while the 20-hour EMA sat at $1.49, just above spot.
The hourly Bollinger Bands placed the upper boundary at $1.52 and the lower at $1.47, with price compressed inside both. Buyers need to clear a two-step resistance sequence at $1.53 and then $1.55 before $1.60 comes into view, while losing the $1.49 support would shift attention to $1.45 and then $1.41.
Sources: Crypto Daily, CoinGape
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