XRP (XRP) rose this week even as an oil-driven macro shock dragged US stocks lower, with the token outperforming the S&P 500 by a wide margin as whale flows turned positive for the first time since November.
The move came despite XRP ETFs suffering their second-worst weekly outflows on record, suggesting large holders may be stepping in to absorb supply even as institutional investors pull back amid broader market stress.
XRP outperformed US equities in the week ending March 15, rising more than 4% while the S&P 500 lost 1.60% over the same stretch amid oil-driven inflation fears.
The divergence is notable because both crypto and equities were trading under the shadow of the same macro shock: a surge in oil prices linked to the Iran conflict and disruptions around the Strait of Hormuz.
Brent Crude ended Friday at $103.14, up 11% for the week, while US crude settled near $98.71 after briefly pushing back above $100.
That energy spike revived stagflation concerns and pressured traditional risk assets, with investors worried that higher fuel costs could keep the Federal Reserve’s policy stance tighter for longer.
CryptoQuant data shows XRP whale flows have turned positive on a 30-day moving average basis for the first time since November 2025, hinting that large holders may be returning to accumulation mode.
The shift follows months of negative whale flows, a period that coincided with XRP’s slide from above $3 to the low-$1 range.
The deepest outflow phase appeared around early 2026, when XRP was undergoing a sharp correction, suggesting whales were distributing heavily into weakness.
But the latest reversal above zero points to a potential change in behavior: instead of offloading coins, major holders may now be absorbing supply again.
The signal is still early, but such flips in whale positioning often align with price stabilization and, in some cases, trend reversals. If the positive flow persists, it could strengthen the case that XRP is carving out a local bottom.
Institutional demand for XRP also took a hit this week, with exchange-traded funds recording one of their largest weekly withdrawals since launch.
Data from SoSoValue shows XRP ETFs posted roughly $28 million in net outflows, marking the second-largest weekly redemption on record as macro uncertainty and crypto volatility pressured risk appetite.
The selling came after a stretch of earlier inflows and coincided with XRP’s decline toward the $1.30–$1.40 range, suggesting institutional investors were trimming exposure during the market pullback.
XRP ETFs have accumulated over $1.4 billion in total inflows since launching in November 2025, highlighting sustained long-term interest in the asset.
Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.