XRP has declined 2.46% over the past 24 hours and now trades at $1.38, approaching a critical technical threshold. The cryptocurrency is testing its 200-week exponential moving average (EMA) support level positioned at $1.37, according to market data.
A breakdown below this level could signal a longer-term bearish trend, with the next support zone located at the 20-week EMA around $1.27. The Relative Strength Index currently stands at 51, though its declining trajectory suggests potential erosion of buying momentum.
Profit-taking by traders who entered positions near $1.00 and liquidated after the rally to $1.66 continues to create near-term resistance for the asset.
Institutional Demand Strengthens
Despite price weakness, institutional interest in XRP through spot ETFs has accelerated. Between August 24 and August 28, weekly inflows to XRP ETF products reached $110.49 million—the strongest weekly performance since December 2025. The ETF products maintained positive inflows for nine consecutive sessions, with August 28 alone recording $26.20 million in capital flows.
Bitwise led weekly inflows with $59.95 million, followed by Franklin Templeton with $28.7 million. The five XRP ETFs trading on U.S. exchanges collectively manage $1.44 billion in net assets, representing 1.66% of XRP's total $87.43 billion market capitalization.
Network Activity and User Growth
Blockchain analytics indicate expanding network engagement. Receiving addresses reached 926,320 alongside elevated transaction volumes, suggesting increased user activity on the network.
Evernorth Progresses Toward NASDAQ Listing
XRP treasury firm Evernorth has obtained SEC authorization to commence public trading on NASDAQ through a business combination with Armada Acquisition Corp. A shareholder approval vote is scheduled for September 30, 2026.
Evernorth currently holds 473,276,430 XRP tokens, valued at approximately $672.3 million, representing 0.473% of the total circulating XRP supply.
