Ripple (XRP) Price Retreats to $1.32 as ETF Cumulative Inflows Reach $1.68 Billion Trader Edge | usagoldmines.com

Key Highlights

• Ripple’s XRP currently trades near $1.32, registering a 3% daily decline and 7% weekly drop
• Geopolitical tensions between the US and Iran are pressuring risk-sensitive digital assets
• XRP-focused exchange-traded funds in the United States attracted $14 million on Tuesday, bringing total cumulative inflows to $1.68 billion
• The XRP Ledger milestone of 3 billion total transactions coincides with a 200% spike in network volume
• Critical support zone identified around $1.22, with overhead resistance positioned at the 200-day EMA near $1.35

Ripple’s XRP token is currently changing hands at $1.32, experiencing a pullback following an impressive 72% surge throughout August that propelled the digital asset from $1.00 to $1.70. The upward momentum reached exhaustion as market participants secured profits, leaving the price in search of renewed buying interest.

The wider cryptocurrency ecosystem faces headwinds as well. Bitcoin has descended beneath the $77,000 threshold while Ethereum hovers below $2,400. Escalating geopolitical friction between the United States and Iran has driven crude oil valuations upward and strengthened expectations for a more aggressive Federal Reserve policy stance, establishing challenging macroeconomic conditions for speculative investments.

The cryptocurrency Fear & Greed Index has declined to 63 from the previous day’s reading of 69. Should market sentiment continue deteriorating, XRP could breach the $1.30 psychological barrier.

However, institutional capital continues flowing into XRP investment vehicles. US-based spot XRP exchange-traded funds registered $14 million in net inflows on Tuesday, representing an increase from Monday’s $6 million. Total cumulative inflows have reached $1.68 billion, with average net assets standing at $1.44 billion.

Ripple executed its regular monthly escrow operation, releasing 1 billion XRP tokens before returning 700 million XRP to locked storage. While this represents a predictable supply management mechanism, it frequently draws market scrutiny during periods of price weakness.

Network Fundamentals Remain Robust

Blockchain metrics paint a contrasting picture to spot market performance. The XRP Ledger has surpassed 3 billion cumulative transactions, accompanied by a remarkable 200% increase in on-chain transaction volume despite cooling prices. Futures Open Interest has experienced a modest uptick to 2.29 billion XRP.

Technical analysis reveals XRP trading beneath its 200-day exponential moving average at $1.35, which has transformed into overhead resistance. The Relative Strength Index rests near 55, indicating diminishing upward momentum, while the MACD indicator has returned to negative territory.

Critical Levels for Traders

Downside support converges around the 50-day and 100-day EMAs in the $1.22 vicinity. A confirmed daily close beneath this zone would suggest weakening buyer conviction. On the topside, resistance barriers are positioned at $1.35 followed by $1.40.

Market analyst XRP Update shared on X that price action is consolidating near long-term trendline support. The analyst observed that if this support zone holds firm and XRP successfully breaches descending resistance, a potential move toward $2.00 or beyond could materialize, emphasizing that breakout confirmation remains essential.

XRP Ledger total transactions surpassed the 3 billion milestone with on-chain activity jumping 200%, even as the spot price remains constrained at $1.32.

The post Ripple (XRP) Price Retreats to $1.32 as ETF Cumulative Inflows Reach $1.68 Billion appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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