This drop could be due to investors moving funds into private wallets, institutional accumulation, transfers to other platforms, or usage in DeFi and on-chain activity.
At the same time, order book data shows stronger buy-side depth than sell-side pressure. This suggests there is solid support at lower levels, and it may take less capital to push prices up than to push them down.
$XRP ETF Sees Losses and Limited Inflows
Institutional signals are mixed. A fund from Bitwise Asset Management reported a net loss of $25.937 million, entirely due to unrealized losses on its $XRP holdings. The fund holds 131.2 million $XRP, reported no investment income, and recorded a loss of $2.31 per share. It was launched on November 19, 2025, with trading starting the next day, and it only sells $XRP when needed to cover expenses.
More broadly, $XRP ETFs in the U.S. have seen only four days of inflows in March, compared to six days of outflows. Total assets under management currently stand at about $1.02 billion.
XRPL Network Growth Continues
π $XRP Ledger is continuing to see its network grow. Based on wallet size, here are the amount of addresses under each tier:
π¦π Less Than 100 $XRP: 5.66M Wallets
π‘π¬ 100 to 100K $XRP: 2.01M Wallets
π¦π³ More Than 100K $XRP: 32,054 Wallets pic.twitter.com/QN1AWIhYBJ
β Santiment (@santimentfeed) March 21, 2026
According to data from Santiment, the $XRP Ledger continues to grow despite recent price pressure. There are now about 5.66 million wallets holding less than 100 $XRP, around 2.01 million wallets holding between 100 and 100,000 $XRP, and 32,054 wallets holding more than 100,000 $XRP.
This steady increase across small, mid-sized, and large holders suggests that user participation remains strong even as overall market sentiment stays cautious.
Short-term momentum looks weak unless key levels are reclaimed, but falling exchange supply and steady network growth show that the interest in $XRP has not disappeared.