Crypto exchange Bitrue reported a surge in XRP trading activity, citing a jump in retail spot buying and steady ETF inflows.

In a statement, the exchange reported a sharp surge in spot buying over Feb 23–24, even as broader crypto markets remain choppy.

Bitrue argues the pickup in demand, paired with what it calls steady ETF inflows, could set the stage for a tighter XRP supply and a stronger second quarter.

Bitrue said XRP spot purchase volumes from retail customers jumped 212% over the Feb 23–24 window, with buying activity running at more than twice the sell side.

The exchange did not provide absolute volume figures, but framed the move as a notable shift in positioning after a difficult mid-February stretch.

Bitrue also pointed to realized losses, an on-chain metric that estimates how much loss traders lock in when they sell coins below their purchase price, as evidence of a “shakeout.”

The exchange said spot XRP traders closed out around $1.93 billion in realized losses in mid-February.

In plain terms, that suggests many short-term holders sold after prices moved against them, which can reduce speculative pressure if weaker hands leave the market.

The company argued that similar drawdowns in past cycles have not automatically signaled lasting damage to the market structure.

Instead, Bitrue said, they have sometimes preceded strong rebounds, though it did not cite specific historical dates or returns.

Bitrue linked the pickup in spot demand to what it described as ongoing institutional accumulation following the launch of XRP ETFs.

According to the exchange, XRP ETFs debuted on Nov 14 and have attracted a net $1.1 billion in assets, with positive weekly inflows and outflows on only five days in total.

Bitrue contrasted that with “other major crypto ETFs,” saying BTC products are down $1.3 billion year-to-date, interpreting the difference as capital rotation rather than investor capitulation.

These figures were presented as Bitrue’s read on the market and could not be independently confirmed from the release alone.

Bitrue said it is now forecasting a potential supply squeeze, a scenario where available tokens for trading tighten as demand rises.

The exchange expects XRP could outperform “key competitors” in Q2 2026 if current trends hold.

“A sustained breakout above $1.40–$1.47 could trigger a recovery toward $1.60–$1.80 in the near term, aligning with bullish reversal patterns if volume supports it and catalysts like ETF inflows or regulatory progress materialize,” said Andri Fauzan Adziima, Bitrue’s senior research lead.

On the business side, Bitrue said it is adjusting its short-term strategy to become a larger liquidity hub for XRP Ledger (XRPL) utility.

XRPL is the blockchain network associated with XRP, used for payments and token activity.

The exchange said it will increase support for XRP and other XRPL ecosystem assets, including RLUSD, which it is now using as a base trading pair.

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