The XRP Ledger has surpassed the Ethereum network in net capital flows over the past 30 days, a notable shift in capital allocation between the two major blockchain ecosystems as of April 25, 2026.
"This is a clear signal of capital rotation between Layer 1 networks," said a researcher at on-chain analytics firm DefiLlama. "While the absolute numbers for XRP are modest, the directional trend away from Ethereum is significant, especially following a major stablecoin mint."
This development gains significance when viewed against recent exchange-traded fund flows. Data shows Ethereum spot ETFs experienced a $75.94 million net outflow on April 23, ending a ten-day streak of positive inflows. In contrast, XRP-focused investment products attracted $3.89 million on the same day, according to market data. The divergence is stark, with Bitcoin and Solana spot ETFs recording net inflows of $223.21 million and $7.33 million, respectively.
The movement suggests a broader market rotation, with capital seeking opportunities outside the Ethereum ecosystem. This trend is occurring just as Tether minted 1 billion USDT on the Ethereum blockchain on April 21, according to Arkham Intelligence, injecting fresh liquidity that now appears to be migrating across chains. For the XRP Ledger, the increased inflow is a bullish signal, suggesting rising investor confidence that could attract more developers and projects. For Ethereum, it underscores the growing competition for liquidity and market share.
This article is for informational purposes only and does not constitute investment advice.