XRP Tops Up by 5.05%, Races Toward Target Price
Ripple (XRP) is up 5.05% to $1.39, outperforming a broadly positive market, primarily driven by renewed institutional ETF inflows and progress toward a key Nasdaq listing.
The token continues to track its new target price of $2.10, supported by institutional investor entry via exchange-traded funds (ETFs) linked to XRP.
Despite a 6% weekly price drop, U.S. spot XRP ETFs attracted $14.38 million in net inflows on September 1, led by Franklin Templeton and Grayscale funds, while Bitcoin ETFs saw significant outflows.
This divergence suggests investors are rotating into XRP for regulated exposure, providing direct buying pressure. Institutional appetite for XRP remains resilient independent of short-term price swings.
The broader altcoin sector showed strength, with the Altcoin Season Index rising 9.38% in 24h. Concurrently, Ripple’s ecosystem is expanding: its dollar-pegged stablecoin RLUSD surpassed a $2 billion market cap, with over $1 billion issued on the XRP Ledger, signalling increased utility and network activity.
XRP’s move is supported by both sector-wide momentum and tangible growth in its own financial infrastructure as Ripple continues to deepen its footprint in cross-border payments.
The immediate technical structure is pivotal. XRP is trading above the key 50% Fibonacci retracement level at $1.34, which now acts as support. The 61.8% retracement level sits at $1.25.
The bias is cautiously bullish above $1.34 but vulnerable below it. The upcoming XRPL 3.3.0 upgrade on September 11 and the U.S. Senate vote on the CLARITY Act around September 15, which could clarify XRP’s regulatory status and serve as significant catalysts.
The combination of fresh ETF inflows and solid ecosystem development provides a foundation for recovery, though price must hold critical support.
Market participants say U.S. regulatory developments—notably the Senate’s September 15 cloture vote on the CLARITY Act—alongside ETF fund flows, whale accumulation and on-chain activity, will likely be key drivers of $XRP’s next price phase despite short-term volatility. NVIDIA Tokenized Stock Gains 3% on Speculative Activity
