XRP is trading around $1.40 following a pullback from its August peak of $1.66. Technical analyst Ali Martinez confirmed that the token has broken above a descending trendline that had previously constrained upward price movement, identifying $1.70 as the immediate upside target.
The current trading zone near $1.40 now serves as critical support. If XRP successfully moves above $1.50, it would strengthen the bullish case and bring the $1.70 level within closer reach. Further resistance zones to monitor include $2.09 and $2.35. A breakdown below $1.37 could reverse the breakout pattern and trigger declines toward $1.20.
Record ETF Inflows Signal Sustained Demand
U.S. spot XRP exchange-traded funds recorded $110.49 million in net inflows during the week ended August 28, marking the highest weekly performance since these funds launched. Cumulative ETF inflows have exceeded $1.66 billion, with total assets under management approaching $1.44 billion.
Bitwise's XRP ETF leads with accumulated inflows exceeding $600 million, while Franklin's XRPZ product has attracted $462.86 million. As capital flows into these investment vehicles, fund managers purchase XRP on spot markets, systematically reducing available supply on exchanges.
Legislative Action Ahead
The Senate is scheduled to hold a cloture vote on the CLARITY Act on September 15. The proposed legislation would classify XRP and select other digital assets as digital commodities under federal regulatory frameworks. A cloture motion requires 60 affirmative votes to advance the bill to a final Senate vote.
XRP previously traded above $2.00 in January of this year, reaching $2.41 in early January. Returning to $2.00 from current levels would require approximately 42.9% appreciation.
