XRP Rally Slows on S&P Dow Jones Crypto Index Exclusion
Ripple XRP price is little changed at $1.14 on Wednesday despite S&P Global’s decision to exclude Bitcoin and the token from its crypto index due to revenue criteria.
The price climbed by a minuscule 0.6%, aligning with positive news flow around XRP’s utility. The XRP Ledger surpassed 1 million agentic transactions, signalling growth in machine-to-machine payments.
Also, Ripple Prime, its institutional arm, now processes $3 trillion annually, boosting confidence in the ecosystem’s scale. These milestones reinforce XRP’s use-case narrative, providing fundamental support that can attract steady, long-term interest rather than speculative spikes.
Broader institutional flows provided a tailwind. U.S. spot XRP ETFs saw a net inflow of $2.49 million on July 20. Technically, the price is consolidating near the daily pivot point of $1.14, suggesting room for movement without being overbought.
The move was supported by real capital and occurred from a stable technical base, not extreme leverage. The immediate catalyst is the monthly escrow unlock of 1 billion XRP on August 1.
Historically, these events cause minimal volatility as most tokens are re-locked, but they remain a supply-side watch. The key price zone is $1.10–$1.20. A hold above $1.10 could fuel a test of the $1.20 resistance; a break below risks a fall to the $1.05 support.
The market is in a neutral consolidation phase, awaiting a clearer directional catalyst. The 24-hour gain reflects steady ecosystem progress rather than a frenzied rally. While positive developments build a foundation, price remains range-bound between key technical levels.
Trading data from the cryptocurrency exchanges showed XRP hovering at $1.14 following a 5% gain the previous day. The token trading volume is up 1% on the day to about $1.4 billion.
XRP gained momentum following an increase in its spot exchange-traded funds (ETF) inflows that started last week. The market anticipates a rebound towards a $1.20 price target, a price level that is also expected to act as resistance for the token.
S&P Global’s crypto index excluded Bitcoin (BTC) and XRP from its list, reportedly because these cryptocurrencies do not generate revenue. The decision is noteworthy given the significant market cap of both BTC and XRP.
Crypto analysts said the exclusion highlights the criteria used by S&P Global for its index, which appears to prioritise projects that generate revenue over solely market capitalisation.
This development affects perceptions of XRP’s potential to reach new price highs. Market activity reflects a decrease in confidence that XRP will achieve a new all-time high by the end of 2026, with current odds standing at 7% for a high by December 31, 2026.
Target price was increased after T. Rowe Price launched TKNZ, an actively managed spot crypto ETF on NYSE Arca that holds multiple coins instead of tracking a single asset.
Initial holdings data shows allocations of about 40.75% to Bitcoin, 18.42% to Ethereum, 11.01% to BNB, 9.44% to Solana, and 9.37% to XRP, with smaller positions in Hyperliquid, Stellar, Dogecoin, USDC and cash, in a fund that opened at roughly 15 million dollars in assets. XRP Breakout, Up by 5% as Ripple CTO Regrets Selling at $0.10
