XRP is trading around $1.40, having recently pulled back from a high of $1.66. The price structure has shown marked improvement, and analysts are now confirming a significant breakout.
Crypto analyst Ali Martinez shared insights on XRP’s price movements, revealing that the token has broken above a descending trendline. He noted, “Breakout Confirmed! XRP has cleared resistance. Next target: $1.70.” This upward momentum indicates a promising trajectory for the cryptocurrency.
The breakout zone around $1.40 has become critical for maintaining upward momentum. If XRP can surpass $1.50, it would not only solidify this upward trend but also bring the $1.70 target within reach. Beyond this, watch for key levels at $2.09 and $2.35. However, if XRP drops below $1.37, it could retrace to $1.20, jeopardizing the current breakout setup.
In a related analysis, the account XRP Update highlighted that XRP is currently squeezed against resistance within a descending channel. A successful breakout from this configuration could propel XRP towards the coveted $2.00 mark.
ETF Inflows Hit a 2026 High
In a significant boost for XRP, spot ETFs in the U.S. recorded $110.49 million in net inflows for the week ending August 28, marking the highest weekly inflow recorded for 2026. Cumulative ETF inflows have now surpassed $1.66 billion, with total net assets nearing $1.44 billion. Notably, Bitwise’s XRP ETF leads the pack with over $600 million in cumulative inflows, followed closely by Franklin’s XRPZ, which has accumulated $462.86 million.
As new investments flow into these funds, issuers are compelled to purchase XRP on the open market, effectively reducing the supply of tokens available for trading. Sustained weekly inflows above $100 million could have a significant impact on XRP’s market dynamics.
CLARITY Act Vote Set for September 15
XRP traders are keenly anticipating September 15, when the U.S. Senate will hold a crucial vote on the CLARITY Act. This legislation aims to classify XRP and certain other digital assets as digital commodities under federal regulations. A successful cloture motion requires 60 votes to pass, which could pave the way for a final vote on the bill.
XRP last closed above $2 on January 17 of this year, achieving a peak of $2.41 early that month. To reach this milestone again, XRP would need to gain 42.9% from current levels—a more modest move compared to the impressive 70% rally witnessed earlier in August.
Amidst this optimistic outlook, Bitcoin has also made headlines, recently trading above $80,000 for the first time in several months, with XRP gaining approximately 38% in the two weeks leading up to that surge.
The latest weekly ETF inflow figure of $110.49 million stands as the strongest on record for 2026, underlining a robust interest in XRP as it navigates through a pivotal moment in its market journey.
