Key Takeaways
- XRP has declined 2.46% to approximately $1.38, now testing critical support at the 200-week EMA of $1.37
- Weekly ETF inflows reached $110.49 million, marking the strongest performance since December 2025
- Bitwise dominated institutional inflows with $59.95 million during the week
- Evernorth, the XRP-focused treasury firm, secured SEC clearance for NASDAQ listing through Armada Acquisition Corp merger
- Network metrics reveal increasing activity with receiving addresses reaching 926,320
XRP currently trades at $1.38, reflecting a 2.46% decline in the past 24 hours. This downward movement has brought the digital asset to a critical technical thresholdāthe 200-week exponential moving average, positioned at $1.37.
Market analysts warn that a decisive break beneath this technical marker could indicate a transition toward a bearish long-term trajectory. Should the selling momentum intensify, the next meaningful support level emerges at the 20-week EMA around $1.27.
The Relative Strength Index stands at 51, indicating bulls maintain a marginal advantage. Nevertheless, the downward trajectory of the RSI line hints that bullish momentum may be fading.
Some of the current selling activity originates from investors who accumulated XRP around the $1.00 mark and subsequently exited positions following the rally to $1.66. These profit-realization activities are creating near-term downward pressure.
Contrary to the price weakness, institutional interest via ETF products continues strengthening. Data from SoSoValue reveals that XRP exchange-traded funds attracted $26.20 million in net inflows on August 28 alone.
These investment products have maintained positive inflow momentum for nine consecutive trading sessions. The seven-day period spanning August 24 through August 28 generated total inflows of $110.49 millionārepresenting the strongest weekly performance recorded since December 2025.
Institutional Players and Asset Holdings
Bitwise emerged as the dominant institutional player, capturing $59.95 million in weekly inflows, with Franklin Templeton securing second position at $28.7 million. The five XRP ETFs trading in the United States collectively manage $1.44 billion in net assets, representing 1.66% of XRP’s total $87.43 billion market capitalization.
Technical analyst EGRAG CRYPTO highlighted on X that XRP is approaching its ascending 300-week moving average situated near $1.03. The analyst emphasized that previous retests of this technical level followed by successful holds have historically triggered fresh accumulation phases. Should XRP maintain support above the 300-week MA, EGRAG identifies potential resistance targets at $1.65, followed by $2.00ā$2.80, with extended speculative projections reaching $15, $27, and $50.
Blockchain metrics from BankXRP indicate receiving addresses have expanded to 926,320, accompanied by elevated transactions per second. These indicators suggest expanding network utilization, though market observers acknowledge uncertainty regarding the underlying drivers and sustainability of this growth.
Evernorth Advances Toward Public Markets
XRP treasury firm Evernorth has obtained Securities and Exchange Commission clearance to enter public markets via NASDAQ through its merger agreement with Armada Acquisition Corp. The company’s shareholders are scheduled to vote on the transaction September 30.
Evernorth’s treasury currently contains 473,276,430 XRP tokens, with a market value approaching $672.3 million, accounting for 0.473% of the total circulating XRP supply.
The critical shareholder vote determining the NASDAQ merger outcome will take place on September 30, 2026.
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