Summary in simple language: A crypto exchange called Bitrue said on February 26 that people and institutions bought a lot more of XRP for immediate delivery. They saw a big 212% jump in XRP bought on the spot market. Bitrue connected this rise to about $1.1 billion in money moving into XRP through exchange-traded funds (ETFs). ETFs are a way for investors to buy a fund that holds a group of assets, like stocks or commodities, through normal stock markets. The company says steady demand from funds and regular buyers could reduce how much XRP is available in the coming months.
What Bitrue observed: Bitrue shared a post on X (formerly Twitter that XRP buy orders on its platform were more than sell orders by a little over 2 to 1. In their words, there was a 212% increase in XRP spot buying and the buy side stayed ahead of the sell side by more than two times. Spot buying means people are purchasing XRP to own now, not to trade a contract for future delivery.
Bitrue argued that this higher page of buying is the result of continued institutional accumulation since XRP ETFs began trading. They claim these ETFs have pulled in about $1.1 billion in net assets. Net assets mean the total value that has flowed into the ETF after taking out money that went out. However, other data from SoSoValue shows ETF inflows have been more modest in recent days. This means not all data sources show the same picture for ETF money moving in and out.
What the derivatives market shows: On the other hand, the derivatives market tells a different story. A derivatives contract is a financial contract whose value comes from something else, like XRP. Two common types are futures and options. A big clue is something called open interest, which is the total number of active contracts that haven’t been settled yet. Crypto data site CryptoQuant says XRP futures open interest fell on major platforms in the last 90 days. For example, Binance saw a drop of about 7.7 million XRP in open interest, and Bybit saw a larger drop of around 12 million XRP. This pattern suggests fewer bets on rising or falling prices using futures contracts.
The three-month moving average for XRP futures trading volume also dipped to its lowest level since November 2024. It stood at about $87 billion over three months. This number shows how much money people were trading in XRP futures on average over that time. A lower number can mean less trading excitement in the futures market, even if the spot market feels busy.
The price and market mood: At the time of writing, XRP traded around $1.44, up about 5% in the last 24 hours and roughly 2% for the week. But compared with the last month, XRP was still down more than 23%, and it was about 38% lower than its peak in July 2025, when it briefly reached $3.65. This shows that even with today’s gains, XRP has not kept up with its high point a year ago.
What the market structure looks like: The difference between strong buying in the spot market and falling activity in the futures market suggests a shift in who is driving the market. The total amount of active XRP futures contracts, known as open interest, sits near $2.37 billion according to CoinGlass. The contraction in leveraged positions may mean traders are taking less risk after a period of big price swings. In simpler terms, fewer traders are relying on big bets using borrowed money right now.
The price has been moving in a kind of narrow range recently, bouncing between roughly $1.38 and $1.48 in the last 24 hours. Market watcher CasiTrades pointed to resistance, or price barriers, around $1.40 and $1.65, with support levels, or floors, near $1.11 and $0.87. For XRP to push higher, CasiTrades said there would need to be stronger action from ETF inflows and more broad participation from investors beyond a few groups.
Taking all this data together, Bitrue’s reported jump in spot buying shows there is real demand for XRP on the exchange itself. But the wider data indicates the market is rebalancing rather than speeding up a new sustained rally. In other words, more buyers are showing up in the spot market, but the futures market is cooling down and risk-taking is tapering off.
Despite the mixed signals, Bitrue still offers a hopeful view. The exchange argues that growing support from both retail investors (individual traders) and institutions could squeeze XRP’s supply. A supply squeeze happens when demand increases while the supply slowly fails to grow at the same pace, which can push prices higher. Bitrue suggests this could help XRP outperform some of its important rivals in the second quarter of 2026. They even wrote that with more support at both the retail and institutional levels, XRP could do better than other major cryptocurrencies in that period.
The article where Bitrue’s comments appeared was titled “Institutional Pivot: Why XRP Spot Buying Is Skyrocketing While Futures Open Interest Slumps” and was published by CryptoPotato. This headline summarizes the main idea: more money is moving into XRP through the actual buying of coins (spot market) while bets on future prices (futures) are shrinking.
What this means for beginners: Here is a simple way to think about what is happening. Ripple’s digital coin, XRP, has two main ways people can use it to invest or trade: the spot market and the futures market. In the spot market, people buy XRP to own it now. In the futures market, people buy and sell contracts that say how much XRP will be worth later. When a lot of investors buy XRP today, that is rising demand on the spot market. When many investors place bets on future prices using futures contracts, that is rising activity in the futures market. Sometimes spot buying can rise even if futures trading slows down. This can happen if more people want to own XRP today but fewer people want to place big bets about the price later. This mix of actions can tell us a lot about how investors feel about XRP’s future, whether they think it will go up or down, and how comfortable they are taking on risk with borrowed money.
Why ETF inflows matter: An ETF is like a normal fund that trades on a stock exchange. It is a way for ordinary investors to own a basket of assets without buying each asset directly. When ETFs hold XRP, they are a way for large groups of investors to gain exposure to XRP without buying the token on a crypto exchange. If many ETFs buy XRP, the total demand for XRP can rise. This can push the price up or keep it from falling too quickly. On the other hand, if ETF inflows slow down, the pressure on the price from that particular source weakens. That is why people watch ETF flows closely when they study XRP and other crypto markets.
Why futures open interest matters: Open interest is a technical term. It means the total number of outstanding derivatives contracts (like futures) that have not yet settled. If open interest goes down, it can indicate less speculative betting and less risk-taking. If open interest goes up, it can show more interest and bigger bets. In this case, open interest has fallen across major platforms, which can be a sign that traders are stepping back from big bets about XRP’s price in the near term. This helps explain part of the mixed picture: more physical buying (spot) but less risk-taking in futures.
What to watch next: Investors and market watchers will be looking for two things to confirm a stronger move for XRP: first, more real demand from ETFs and other large buyers pushing up XRP’s price; second, broader participation from both retail and institutional investors. If these things happen together, a supply squeeze could occur where the demand outpaces the available XRP on the market. That scenario could push XRP higher than some other major cryptocurrencies, at least for a while. However, if ETF inflows stay muted and open interest continues to fall, the market could continue to show this rebalanced, cautious pattern rather than a rapid rally. As always in crypto, many factors can influence price, including macro (big-picture) economic trends, regulatory news, and changes at major exchanges.
Bottom line: Bitrue’s report highlights a clear rise in XRP spot buying tied to ETF activity, suggesting strong exchange-level demand. At the same time, the bigger derivatives market looks calmer, with fewer bets tied to XRP’s future price. The market seems to be rebalancing rather than accelerating toward a big, easy rally. Bitrue remains optimistic about a potential supply squeeze thanks to growing support from both retail investors and institutions, which could help XRP outperform some peers in 2026. Whether that happens will depend on how many investors keep buying XRP now and how many keep betting on its price in the future.
Glossary and quick definitions (links go to Wikipedia definitions):
- XRP – a digital asset used for fast, low-cost payments. It is the native token of the XRP Ledger, a decentralized network created by Ripple.
- XRP Ledger – a decentralized ledger that uses a special consensus protocol to validate transactions and supports XRP for fast settlement.
- Exchange-traded fund – a fund that trades on stock exchanges and holds a mixed portfolio of assets like stocks or bonds. ETFs make it easier for many investors to buy a group of assets in one trade.
- Open interest – the total number of active derivative contracts that have not yet been settled. It helps show how active and liquid a futures or options market is.
- Binance – a large cryptocurrency exchange where people can buy, sell, and trade many digital assets, including XRP.
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