The U.S. Spot XRP ETF has reached a record $1.1 billion in assets under management (AUM), now controlling 1.26% of XRP's total market cap. Despite this significant capital inflow, XRP's price remains unable to break the $1.50 resistance level, trading between $1.3 and $1.5 for 75 days. This suggests that while ETFs are accumulating XRP, they have yet to exert a substantial impact on its price. The cumulative ETF inflows have reached $1.3 billion, yet XRP's price has declined by 27% over the same period. The current ETF rally, with $110 million in net inflows from April to May, appears to be more about strengthening XRP's fundamentals rather than immediate price increases. The locked supply could potentially smooth future rallies if risk appetite increases and these tokens remain off exchanges.