Why XRP isn’t moving despite $1.2B in ETF demand

Who holds the power in XRP? Lately, institutional money has moved in, and big wallets are also trying to take control again. And get this! This is all happening with price action that isn’t anything to write home about.Here’s what you need to know.ETFs set the toneSpot XRP ETFs’ inflows have pushed total net assets past $1.2 billion. Even on mellow days, inflows have remained positive. The interest looks extremely consistent (though muted), rather than like a one-off spike.Source: SoSoValueThe trend is interesting, though. Even with the big streak of green, Ripple’s [XRP] price has held near $1.90 instead of reacting impulsively. That’s a big buying sign, with institutions building exposure gradually to set a base.Whales have some skin in the gameSantiment data indicated that wallets holding between 100 million and 1 billion XRP have begun increasing their share again. Whale supply has climbed back toward the 12.8% range after a brief decline earlier this month.Source: SantimentThe move hasn’t been gradual. After dipping in mid-December, large-holder ownership spiked, so holding isn’t passive. They’re positioning.When whales step in alongside institutional inflows, it means market control is shifting hands.XRP is trying to steady itselfAt the time of writing, XRP traded near $1.94, still below its key exponential moving averages (EMAs). The 20, 50, 100 and 200-day EMAs remained overhead, so the greater trend hadn’t yet flipped bullish.Source: TradingViewThat hesitation is visible in the momentum as well.RSI was at around 43, with mild recovery but no strong buying pressure. OBV has also flattened after falling earlier in the month.That means selling has reduced with no new demand. The MACD was below zero, too, though downside momentum appeared to be slowing.Final ThoughtsXRP price is flat near $1.90, but $1.2B+ in ETF assets and rising whale supply mean holders aren’t deterred.Control is shifting, even without a price breakout.