XRP price targets $1.70 as Bitwise ETF tops $500M

$XRP traded near $1.37 on Sept. 1 after retreating from its August peak near $1.70, leaving traders divided over whether its recent breakout remains intact.

The token fell approximately 0.6% over 24 hours and 8.2% during the preceding seven days, according to crypto.news data. $XRP remained up 25.9% over 30 days following its recovery from the $1 area.

Analyst Ali Martinez said $XRP had “cleared resistance” and described the breakout as confirmed. He placed the next target at $1.70, although price had already moved back below the breakout area by the time of reporting.

$XRP price tests support after its August rally

$XRP’s daily chart shows a strong recovery from its August low followed by a pullback from the $1.70 region. The price is now consolidating around $1.36 to $1.38, near an area that previously acted as resistance.

The immediate support range sits between $1.30 and $1.35. Holding this area would preserve the sequence of higher lows established during the August rebound. A daily close below it would weaken the short-term structure and expose lower support near $1.27.

The first major resistance range is between $1.50 and $1.60. $XRP would need to reclaim that zone and hold above it before another test of $1.70 becomes more credible.

$XRP remains in a broader downtrend when measured from its previous highs above $3. The recent recovery improved its short-term structure, but it has not yet confirmed a full reversal of that longer decline.

The Relative Strength Index stood near 60.6 on the daily chart. A reading above 50 indicates that positive momentum remains, although the indicator has fallen from its recent overbought level.

The RSI also remained below its moving average near 72.3, showing that momentum cooled as $XRP retreated from the August peak. The indicator is no longer overheated, but it has not produced a fresh acceleration signal.

Bitwise $XRP ETF crosses $507 million

The Bitwise $XRP ETF held approximately 365.35 million $XRP worth $507.23 million as of Aug. 30, according to the fund’s official data.

The NYSE Arca-listed product had 32.71 million shares outstanding and charged an expense ratio of 0.34%. Coinbase Custody Trust held the fund’s $XRP, while Bank of New York Mellon served as trust custodian and administrator.

The latest total represented a sharp increase from June 30, when the fund held 286.84 million $XRP and reported $299.15 million in net assets. Its holdings therefore increased by approximately 78.5 million $XRP between quarter-end and Aug. 30.

A rising asset total does not come entirely from new investor cash. Assets under management can increase through share creations, which require additional $XRP, and through gains in the token’s market price.

Bitwise’s second-quarter filing showed that investors added approximately 181.53 million $XRP worth $269.85 million through share creations during the first half of 2026. Redemptions removed about 25.61 million $XRP.

The trust’s net assets rose from $241.37 million at the end of December to $299.15 million on June 30 despite a $176.61 million decrease from operations. The filing attributed most of that reduction to $XRP falling from $1.82 to $1.04 during the period.

$XRP breakout targets remain unconfirmed

Martinez’s $1.70 target is a technical forecast rather than an assured price level. $XRP must first remain above support and recover the resistance lost during its latest pullback.

The Moving Average Convergence Divergence indicator also points to weaker momentum. The MACD line stood near 0.0834, slightly below its signal line around 0.0851, while the histogram was marginally negative.

This configuration suggests that the bullish momentum behind the August recovery is fading. It does not yet establish a strong bearish trend because both MACD lines remain above zero.

Other analysts have offered wider forecasts. Diana identified potential targets at $1.88 and $7.07 using Elliott Wave analysis, while $XRP Update proposed levels extending from $2.50 to $13.

Those projections rely on patterns and assumptions that have not been confirmed by subsequent price action. They should not be presented as expected outcomes.

The bearish scenario also remains active. Crypto Lens said $XRP could fall toward $1.17 before beginning another recovery. ChartNerd identified the 20-week exponential moving average near $1.27 as a possible support floor after $XRP failed to reclaim its 50-week average.

ETF demand has not prevented $XRP volatility

Institutional demand through U.S. exchange-traded products has continued despite $XRP’s price swings. As crypto.news previously reported, $XRP ETF trading volume reached an all-time high during the August rally.

Seven U.S. spot $XRP funds had recorded approximately $1.57 billion in cumulative net inflows by Aug. 24. The latest external estimates placed that total above $1.6 billion by the end of the month.

ETF creations can require issuers or authorized participants to obtain more $XRP. However, fund demand does not guarantee price gains because selling from other market participants can offset those purchases.

$XRP previously recorded its strongest weekly rally since the SEC settlement before entering the current correction. The sharp rise and subsequent pullback show that institutional inflows have not removed short-term volatility.

The next confirmation will come from price rather than analyst targets. Holding $1.30 to $1.35 would keep the recovery structure intact. Reclaiming $1.50 to $1.60 would strengthen the case for another $1.70 test, while losing support would shift attention toward $1.27 and $1.17.

Source: cryptonews.net