XRP Faces a Three-Front Test: Fund Outflows, Stolen-Token Swaps and a 2026 Testnet Reset
Published on 11/12/2026 at 10:10 | Editorial boerse-global.de
XRP investors are contending with a cluster of pressures that rarely arrive together: money draining out of exchange-traded funds, a hacker's cache of stolen tokens being rotated into Bitcoin, and a broader crypto market gripped by regulatory anxiety. The common thread is demand — or the lack of it through the most visible investment channel.
Fund flows turn negative again
US spot XRP ETFs posted net outflows of $10.4 million on Tuesday, according to media reports, following a week in which the products failed to record a single day of positive net inflows. The Bitwise XRP fund alone accounted for $9.4 million of Monday's withdrawals, concentrating much of the capital exit in one product.
That follows a brief spell of equilibrium. From November 3 to 6, the US spot XRP ETFs logged four consecutive sessions with neither net inflows nor net outflows. Before that, $529,500 had flowed out on November 2, according to media reports. The sequence matters more than any single day's print: flat, then negative. A genuinely brighter demand signal would require inflows to overtake redemptions and to hold beyond a session or two.
On a seven-day view, XRP shows a change of -13%, framing the weakness as more than a one-day event.
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A nervous market backdrop
Reuters reported Monday on sharp losses across crypto following the US midterm elections, with investors fretting that a Democrat-controlled Congress could tighten regulation of digital assets. That worry weighed on risk appetite across the sector. Separate market coverage pointed to muted risk sentiment and expectations of higher US interest rates, alongside ETF outflows and liquidations as drags.
For XRP, softer market conditions and concrete fund redemptions are arriving at the same time. Any relief on the political front would help — provided demand for XRP products returns alongside it.
Stolen tokens on the move
Another thread runs through the aftermath of the October 29 security incident at Binance. Elliptic estimated the attackers still held roughly 60 million XRP as of Tuesday, according to media reports. Overnight, about 35 million XRP were swapped through THORChain, predominantly into Bitcoin — a substantial shift in the composition of the stolen holdings.
The swap route is the key detail here. These transactions concern the reshuffling of the loot, and they offer only limited explanation for XRP's overall price decline, given that fund outflows and broad market weakness were working in parallel.
A ledger date circled in 2026
Away from the market noise, the XRP Ledger has a technical appointment on its calendar. The XRPL community blog announced Monday that Testnet and Devnet will be reset on November 25, 2026, aimed at improving server stability with full transaction history.
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Two different storylines are therefore running side by side: network maintenance addressing technical resilience, and a short-term market picture shaped by capital withdrawals and the movement of stolen tokens. A friendlier demand picture through the funds would require outflows to ease or inflows to resume.
A developer trims his holdings
Adding context, David Schwartz — co-developer of the XRP Ledger and Ripple's emeritus chief technology officer — said Monday and Tuesday that he had sold nearly all the digital assets he previously held, and that he had not bought XRP for a long time. He put his XRP holdings at roughly 3 million, down from a peak of about 26 million. The disclosures concerned his personal positions.
For investors, the demand question remains front and center. Sustained fund inflows would be a more durable counterweight to the political worries — if they actually materialize. Until then, the latest capital movements argue for caution.
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