XRP surpasses market trend as leading altcoin ETF by significant measure, outdoing Solana.

XRP is at the forefront of the competition for altcoin dominance in the US crypto exchange-traded fund (ETF) market, showcasing remarkable performance since the previous month.

In under 10 trading days, the latest US spot XRP ETFs have recorded total inflows of approximately $587 million, in contrast to around $568 million for Solana ETFs.

This increase reshapes the sector’s hierarchy, positioning XRP as the main option for non-Bitcoin and Ethereum risk appetite in a market otherwise characterized by outflows and cautious strategies.

Solana vs XRP ETFs

Initially, Solana ETFs led the sector.

Since their launch on Oct. 28, US spot Solana ETFs have achieved 20 consecutive days of net inflows, amounting to about $568 million. This has elevated the total assets of these funds to $840 million, which represents roughly 1% of the token’s market capitalization.

Solana ETFs Daily Net Inflows (Source: SoSo Value)

However, XRP has condensed that growth into a significantly accelerated timeframe.

As of Nov. 21, US spot XRP products had already gathered $423 million. The entry of major players Grayscale and Franklin Templeton on Nov. 24 prompted a substantial capital influx, contributing approximately $164 million in net creations in a single session.

XRP ETFs Daily Inflow (Source: SoSo Value)

This brings the total for the XRP complex to around $587 million, surpassing Solana’s total for the month in nearly half the time.

On a capital-intensity basis, XRP is now attracting institutional funds at nearly double the daily rate of its competitor.

The race to zero

The speed of this shift is being propelled by a structural “race to the bottom” regarding costs.

Franklin Templeton has set the most competitive pricing standard in the crypto ETF space. Its XRPZ fund features a 0.19% sponsor fee, which is entirely waived on the first $5 billion in assets until May 31, 2026.

For institutional investors and model portfolios, where basis-point friction influences choices, XRPZ effectively becomes a zero-cost carry trade for the next six months.

Grayscale’s GXRP has taken a similar approach, waiving its standard fees for the initial three months.

This aggressive issuer subsidization coincided with peak demand. The $164 million surge on Nov. 24 indicates that a significant portion of capital was on the sidelines, specifically waiting for these low-cost, reputable wrappers to launch before investing.

While Solana ETFs also employed waivers for funds like Bitwise’s BSOL, the sheer magnitude of Franklin’s $5 billion cap seems to have unlocked a larger tier of institutional flow immediately upon listing.

Momentum vs. gravity

The most significant divergence, however, is found in the relationship between flows and price movements.

Solana’s $510 million in inflows has occurred during a 30% price correction from recent peaks. In this scenario, ETF flows have acted as a buffer, absorbing selling pressure from current holders but failing to reverse the trend.

This effectively makes the SOL ETF’s performance a defensive accumulation narrative.

In contrast, XRP flows are driving a breakout. The token had also seen a decline of about 17% in the past 30 days but increased roughly 10% following the Nov. 24 session.

This contributed to XRP’s breakout above $2, with the token reaching as high as $2.27. On-chain analysis from Glassnode identifies this area as a “major psychological zone,” where long-term holders typically sell to recover losses from early 2025.

XRP Realized Losses Around $2 Zone (Source: Glassnode)

In previous cycles, this supply barrier limited rallies. Today, the ETF demand is altering the dynamics. With funds absorbing $50 million to $100 million daily, the ETFs are creating a non-price-sensitive demand sink capable of managing legacy supply.

Unlike Solana, where flows are contending with downward pressure, XRP flows are acting as a force, transforming a historical resistance level into an accumulation base.

The Path to $2 billion?

With four issuers now operational and the $500 million milestone surpassed in under 15 trading days, market analysts are adjusting their year-end forecasts.

The current run rate positions XRP on a path that exceeds many analysts’ expectations for non-Bitcoin assets.

If the current trend continues, characterized by daily inflows stabilizing in the $40 million to $60 million range following the launch excitement, the complex is on track to challenge the $1.5 billion mark by year-end.

However, a “bull case” scenario is emerging.

If the fee waivers from Franklin Templeton successfully attract registered investment advisors (RIAs) and the shift away from underperforming assets persists, the complex could theoretically approach $2 billion in assets under management (AUM) before the end of 2025.

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