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XRP(CRYPTO: XRP) has pulled back sharply over the past few days, sliding from this month’s high of $1.6930 to $1.3955. The retreat lines up with broader weakness across crypto markets, including pullbacks in Bitcoin(CRYPTO: BTC) and Ethereum(CRYPTO: ETH).
What stands out, though, is that the decline has come even as XRP ETF inflows accelerate and Ripple’s RLUSD stablecoin continues to gain market share.
XRP ETF Inflows and Ripple USD Assets Have Jumped
Third-party data shows that demand for XRP assets continues rising this month. SoSoValue data shows that spot XRP ETFs added $26.2 million in assets on Friday, bringing the weekly gains to $110 million.
These funds have now added $153 million in August, the best weekly performance this year. The previous best month was in May, when they attracted $131 million in inflows.
XRP ETFs have had one month of outflows since their inception in November last year. They lost $31 million in assets in March. In total, these funds, led by Bitwise’s XRP, have had a cumulative inflow of $1.66 billion and now hold $1.4 billion in assets under management. A surge in ETF inflows is a sign that accumulation among institutional investors is rising.
The XRP Ledger is also emerging as a major player in the stablecoin industry. Ripple USD (RLUSD), launched in late 2024, has now accumulated more than $2.32 billion in assets, with the portion issued directly on the XRP Ledger crossing the $1 billion mark this week. That growth trend may continue in the months ahead.
One approach for growing its business is through Ripple Prime, which introduced Delta One, which introduced total return swap across US-listed equities, indices, and digital assets to clients.
XRP Price Prediction: Technical Analysis
The daily chart shows XRP pulling back from its monthly high of $1.6930 to the current $1.3968. This retreat mirrors a broader drop across other cryptocurrencies, a trend that extended after Fed Chair Kevin Warsh’s hawkish remarks at the Jackson Hole Symposium.
On the positive side, the token remains supported by the 50-day moving average despite the recent retreat. It is also holding slightly above the 50% Fibonacci retracement level at $1.3430. Strong reversals are typically confirmed only when an asset drops below the 61.8% retracement level.
Therefore, the token will likely bounce back, helped by its strong fundamentals and technicals. If this happens, the immediate target to watch being this month’s high of $1.6930. A move above that level will point to more gains, potentially to $2.
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