Leverage Cuts Both Ways: ProShares Ultra XRP ETF Sees Fresh Inflows Despite Steep Token Slide
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ProShares’ leveraged crypto product, the ProShares Ultra XRP ETF, saw a notable vote of confidence as the fund logged fresh inflows despite a bruising quarter for its underlying token. The ETF, UXRP, recorded $3.13 million of net inflows on December 23, 2025, lifting its assets under management to $58.43 million. The latest flow represents roughly 5.36% of the fund’s AUM, a sizable one-day shift that underscores traders’ willingness to re-engage with XRP exposure via leverage.
The renewed demand comes against a challenging backdrop for the ETF’s reference asset. The related cryptocurrency, XRP-USD, is currently trading around $1.85, having shed about 38.4% over the past three months. Short‑term momentum remains negative, with a 1-day technical signal flashing Strong Sell, suggesting that, from a technical standpoint, the downtrend has not yet exhausted itself.
For some investors, that combination—sharp recent losses and bearish technicals—appears to be an opportunity rather than a warning sign. The scale of the December 23 inflow hints at speculative positioning by traders attempting to time a rebound in XRP or exploit volatility via UXRP’s leveraged structure. It may also reflect portfolio recalibration at year-end, as investors either average down on prior positions or initiate tactical trades ahead of potential catalysts in the broader digital-asset space.
Still, the disconnect between negative price action in XRP and positive flows into UXRP highlights a key theme in crypto-linked ETFs: flows often respond as much to traders’ risk appetite and volatility expectations as to spot price trends. If XRP’s weakness persists, the latest inflows could quickly find themselves underwater; if sentiment turns, they may mark an early move back into a beaten-down corner of the crypto market.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.