XRP ETF Holders Stood Firm as Bitcoin Funds Saw $450M Exit

Crypto commentator Dana Love argues that XRP’s most telling signal was not its price drop after the Senate’s Clarity Act vote, but the absence of redemptions from XRP exchange-traded funds. In the video, Love said spot Bitcoin ETFs lost $450.33 million in a single session and ether ETFs shed $141.47 million, while XRP ETF net flows were flat at zero.

That distinction matters because XRP itself reportedly fell 7.98% to $1.29 during the sell-off, compared with a 1.42% decline for Bitcoin. Love’s central claim is that leveraged and spot-market traders sold XRP, while ETF investors largely held their positions.

Retail-heavy XRP funds did not follow the broader ETF retreat

Love cited SEC 13F filings and Bloomberg Intelligence analyst James Seyffart’s review of them to argue that roughly 84% of XRP ETF assets were held by investors not required to file quarterly holdings reports, suggesting a heavily retail-owned investor base. XRP ETFs had attracted $1.70 billion since their November launch and held about $1.45 billion in assets, according to the video.

The analyst contrasted that with Bitcoin ETF activity. Fidelity’s FBTC reportedly saw $214.8 million in outflows during Tuesday’s retreat, while BlackRock’s IBIT lost $161.7 million. Across crypto markets, Dana Love said about $670 million in positions were liquidated over 24 hours, with approximately $572 million tied to bullish bets.

Goldman Sachs appeared near the top of reported XRP ETF holders, with $153.8 million across four funds at one point, but Love cautioned against reading that as a directional Wall Street bet. The holdings could reflect market-making or client-order activity, he said, noting that the bank’s reported position had later declined.

Clarity Act defeat may favor assets with established court rulings

Love framed the Senate vote as a setback for tokens seeking clearer federal treatment. The bill reportedly failed 49-51, short of the 60 votes needed to advance debate, while prediction-market odds of its passage in 2026 fell sharply.

For XRP, Love pointed to Judge Analisa Torres’ 2023 ruling that XRP sales on public exchanges were not securities transactions. Ripple and the SEC dropped their appeals in August 2025, according to the video, leaving that ruling intact. Love argued that such a court outcome is harder to reverse than ETF listing standards approved by an SEC commission.

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This ends the longest Fed interest rate pause since 2008.

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The video also noted that the Federal Reserve raised rates by 25 basis points the following day, adding a macroeconomic shock to the regulatory disappointment.

A $10 XRP call rests on sustained ETF demand

Love’s model puts a $10 XRP target behind a demanding condition: XRP ETFs would need to attract $200 million a week in net inflows for eight of 12 weeks. He assigned that outcome a 15% chance by the end of March and acknowledged that the model becomes unreliable at larger fund sizes, when institutions are more likely to hedge and rebalance.

For investors, the practical question is whether XRP ETF stability becomes genuine fresh demand. Zero outflows during a market shock may indicate resilient holders, but it does not by itself establish the sustained inflow cycle the model requires.

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