TLDR
- XRP is down 2.46%, trading around $1.38, testing the 200-week EMA support at $1.37
- XRP ETFs recorded $110.49 million in weekly inflows, the highest since December 2025
- Bitwise led ETF inflows with $59.95 million for the week
- XRP treasury company Evernorth received SEC approval to list on NASDAQ via merger with Armada Acquisition Corp
- On-chain metrics show rising receiving addresses (926,320) and transaction activity
XRP is trading at $1.38, down 2.46% over the last 24 hours. The drop has pushed the price to a key support level at the 200-week exponential moving average (EMA) of $1.37.
Analysts say a break below this level could signal a shift to a bearish long-term outlook. If selling continues, the next support sits at the 20-week EMA of $1.27.
The RSI currently reads 51, giving bulls a slight edge. However, the RSI line is trending downward, suggesting buying pressure may be weakening.
Part of the selling pressure comes from traders who bought XRP near $1.00 and sold after it climbed to $1.66. Those profit-taking moves are weighing on price in the short term.
Despite the price dip, XRP ETF inflows are rising. On August 28, XRP ETFs saw $26.20 million in single-day inflows, according to SoSoValue data.
🚀 $XRP ETFs HIT A NEW 2026 RECORD:
SPOT XRP ETFs ATTRACTED $110.49 MILLION IN NET INFLOWS FOR THE WEEK ENDING AUGUST 28! 📈 pic.twitter.com/c0SJhOKIhs
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) August 29, 2026
The ETFs have now posted nine straight days of inflows. Weekly inflows totaled $110.49 million for the period between August 24 and August 28 — the highest weekly figure since December 2025.
ETF Leaders and Total Assets
Bitwise recorded the largest weekly inflows at $59.95 million, followed by Franklin Templeton at $28.7 million. All five US-listed XRP ETFs now hold combined net assets of $1.44 billion, equal to 1.66% of XRP’s $87.43 billion market cap.
Analyst EGRAG CRYPTO posted on X that XRP is approaching its rising 300-week moving average near $1.03. EGRAG noted that historically, retesting and holding this level has led to renewed accumulation. If XRP holds above the 300-week MA, the analyst sees potential targets at $1.65, then $2.00–$2.80, with highly speculative longer-term targets of $15, $27, and $50.
#XRP – The CHASM & 300W MA ♾🔥:
If you ask me where #XRP is compared with previous cycles, I believe we are very close to the 300-week MA retest phase.
Historically, the sequence looked like this:
👉Penetrate/Reclaim 300W MA → Retest → Fear/News Catalyst → Hold Structure… pic.twitter.com/JIAEPnFZ00— EGRAG CRYPTO (@egragcrypto) August 29, 2026
On-chain data from BankXRP shows receiving addresses climbing to 926,320, alongside rising transactions per second. These figures point to growing network activity, though analysts note it is unclear what is driving the increase or whether it will sustain.
Evernorth Eyes NASDAQ
XRP treasury company Evernorth has received SEC approval to go public on NASDAQ through a merger with Armada Acquisition Corp. Shareholders will vote on the listing on September 30.
Evernorth Advances $1 Billion XRP Treasury Deal Toward Nasdaq Listing
Evernorth said the SEC has declared effective its Form S-4 registration statement for the proposed merger with Armada Acquisition Corp. II, with a shareholder vote scheduled for September 30. If approved and… pic.twitter.com/IRMHN40znV
— Wu Blockchain (@WuBlockchain) August 28, 2026
Evernorth currently holds 473,276,430 XRP, valued at approximately $672.3 million, representing 0.473% of XRP’s circulating supply.
The shareholder vote on the NASDAQ merger is scheduled for September 30, 2026.
