XRP is attempting to hold onto the gains from its strong August recovery, but the token is facing renewed pressure after retreating from the $1.70 region.
XRP was trading near $1.37 on Sept. 1, down approximately 0.6% over the previous 24 hours and 8.2% over seven days. Despite the recent correction, XRP remained up around 25.9% over the past 30 days following its rebound from the $1 area.
At the same time, institutional exposure to XRP continues to grow. The Bitwise XRP ETF held more than $507 million worth of XRP as of Aug. 30, highlighting continued demand even as the token experiences significant short-term volatility.
Analyst Ali Martinez has identified $1.70 as a potential next target after describing XRP’s recent resistance breakout as confirmed. However, the token has since fallen back below the breakout area, making key support and resistance levels increasingly important.
XRP Price Tests Support After August Rally
XRP’s daily chart shows a significant recovery from its August low, followed by a pullback after the token approached $1.70.
The cryptocurrency is currently consolidating around $1.36–$1.38, close to an area that previously acted as resistance.
The immediate support zone sits between $1.30 and $1.35.
Holding this region would help preserve the pattern of higher lows established during XRP’s August recovery. A daily close below this range, however, could weaken the short-term bullish structure and expose the next support level around $1.27.
On the upside, XRP faces major resistance between $1.50 and $1.60.
The token would likely need to reclaim this area and establish support above it before another attempt at $1.70 becomes more convincing.
Despite the recent recovery, XRP remains in a broader downtrend when measured against its previous highs above $3. The August rally improved the short-term technical picture but has not yet confirmed a complete reversal of the longer-term decline.
XRP RSI Shows Momentum Remains Positive
XRP’s daily Relative Strength Index was around 60.6.
An RSI above 50 generally indicates that positive momentum remains in the market. However, the indicator has fallen considerably from its recent overbought levels.
The RSI also remains below its moving average near 72.3, suggesting that momentum has cooled since XRP reached its August peak.
This means XRP is no longer as overheated as it was during the rally, but the indicator has also not produced a fresh signal showing that bullish momentum is accelerating again.
For buyers, maintaining the $1.30–$1.35 support area could therefore be critical to keeping the recent recovery intact.
Bitwise XRP ETF Crosses $507 Million
Institutional interest remains one of the more significant developments surrounding XRP.
The Bitwise XRP ETF held approximately 365.35 million XRP worth $507.23 million as of Aug. 30.
The NYSE Arca-listed fund had approximately 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 the trust’s custodian and administrator.
The latest figures represent substantial growth compared with June 30.
At the end of June, the fund held approximately 286.84 million XRP and reported net assets of $299.15 million.
That means its XRP holdings increased by roughly 78.5 million tokens between June 30 and Aug. 30.
However, growth in assets under management should not automatically be interpreted as an equivalent amount of new investor money.
A fund’s assets can increase through new share creations that require additional XRP purchases, but they can also rise simply because the market value of XRP increases.
Investors Added Millions of XRP Through ETF Creations
Bitwise’s second-quarter filing provides additional insight into how the fund accumulated XRP.
During the first half of 2026, investors added approximately 181.53 million XRP worth $269.85 million through share creations.
Redemptions removed approximately 25.61 million XRP during the same period.
The trust’s net assets increased from $241.37 million at the end of December to $299.15 million by June 30.
That increase came despite a $176.61 million decline from operations, which the filing largely attributed to XRP’s price falling from $1.82 to $1.04 during the period.
The figures demonstrate how ETF holdings and assets can change substantially even when the underlying cryptocurrency experiences significant price volatility.
Is XRP Really Heading Toward $1.70?
Analyst Ali Martinez has identified $1.70 as XRP’s next potential target after describing the token’s resistance breakout as confirmed.
However, the target remains a technical forecast rather than a guaranteed outcome.
XRP has already moved back below the breakout area, meaning price action still needs to provide additional confirmation.
The first requirement would be maintaining support between $1.30 and $1.35.
After that, XRP would need to reclaim the $1.50–$1.60 resistance region. Successfully breaking and holding above that area would make another test of $1.70 more credible.
Without those confirmations, the $1.70 target remains uncertain.
XRP MACD Shows Bullish Momentum Is Weakening
The Moving Average Convergence Divergence indicator also suggests that XRP’s recent bullish momentum is fading.
The MACD line stood near 0.0834, slightly below the signal line around 0.0851.
Meanwhile, the MACD histogram had moved marginally negative.
This configuration suggests that momentum behind XRP’s August recovery has weakened.
However, it does not yet confirm a strong bearish trend because both MACD lines remain above zero.
That leaves XRP in a relatively mixed technical position. The broader recovery structure remains alive, but buyers have yet to regain the momentum that drove the token toward $1.70.
Analysts Offer Wider XRP Price Targets
Other analysts have proposed significantly higher XRP price targets.
Using Elliott Wave analysis, one forecast identified potential levels around $1.88 and $7.07, while another projection suggested targets ranging from $2.50 to as high as $13.
These forecasts should be treated cautiously.
They depend on technical patterns and assumptions that have not yet been confirmed by subsequent XRP price action.
There are also bearish scenarios to consider.
Some analysts have suggested XRP could fall toward $1.17 before beginning another recovery.
Another technical outlook identifies XRP’s 20-week exponential moving average near $1.27 as a possible support floor after the token failed to reclaim its 50-week moving average.
This makes the $1.27 area increasingly important if XRP loses its immediate $1.30–$1.35 support.
XRP ETF Demand Remains Strong Despite Volatility
Institutional demand for XRP-linked investment products has continued even as the cryptocurrency experiences sharp price swings.
US spot XRP ETFs recorded approximately $1.57 billion in cumulative net inflows by Aug. 24, while external estimates placed the total above $1.6 billion by the end of the month.
ETF share creations can require issuers or authorized participants to acquire additional XRP, potentially creating another source of demand for the cryptocurrency.
However, strong ETF demand does not guarantee that XRP’s price will rise.
Selling pressure from other market participants can offset institutional purchases, which helps explain why XRP can experience a significant correction even while ETF assets and inflows continue to grow.
XRP previously recorded one of its strongest weekly rallies following the SEC settlement before entering its current correction.
The rapid rise and subsequent pullback demonstrate that institutional participation has not eliminated short-term volatility.
What’s Next for XRP Price?
XRP’s next move will likely depend more on actual price confirmation than ambitious analyst targets.
The $1.30–$1.35 range remains the most important immediate support zone.
Holding above this area would preserve much of the structure created during the August recovery.
From there, XRP would need to reclaim the $1.50–$1.60 resistance zone to strengthen the case for another move toward $1.70.
A successful breakout could bring the August peak back into focus.
On the other hand, losing the $1.30 support region would weaken the recovery and shift attention toward $1.27. A deeper correction could potentially bring the bearish $1.17 scenario into consideration.
For now, XRP remains caught between strong institutional interest and cooling technical momentum. The Bitwise XRP ETF crossing $507 million highlights growing investor exposure, but the token itself still needs to reclaim key resistance levels before a sustained move toward $1.70 becomes more convincing.
