XRP near $1.37 as Bitwise ETF tops $507 million, analysts eye $1.70 target

XRP traded around $1.37 on September 1, after retreating from an August peak near $1.70. The token posted an 8.2% weekly decline but remained up 25.9% over the past month.

Technical outlook

Analyst Ali Martinez noted that XRP cleared recent resistance and set a price target of $1.70, though the token has already slipped below that level. The daily Relative Strength Index sits near 60.6, indicating still‑positive momentum, while the MACD shows weakening short‑term bullish pressure.

• Key support: $1.30‑$1.35
• Next resistance zone: $1.50‑$1.60
• Potential further test: $1.70

A close below $1.30 could expose lower support around $1.27, and a break of $1.27 might lead to a bearish scenario near $1.17.

Bitwise XRP ETF growth

Bitwise’s spot XRP ETF reported holdings of 365.35 million XRP, valued at $507.23 million as of August 30. The fund’s assets rose sharply from $299.15 million on June 30, when it held 286.84 million XRP.

Share creations added roughly 181.53 million XRP ($269.85 million) in the first half of 2026, while redemptions removed about 25.61 million XRP. The ETF’s expense ratio is 0.34%, with Coinbase Custody Trust as the custodian and Bank of New York Mellon serving as administrator.

Market context

Institutional demand for XRP through U.S. spot ETFs remains strong, with cumulative net inflows exceeding $1.6 billion by late August. However, ETF creations have not eliminated short‑term price volatility, as evidenced by the recent pullback.

Overall, XRP’s short‑term structure hinges on holding the $1.30‑$1.35 support band and reclaiming the $1.50‑$1.60 resistance range to validate a further move toward the $1.70 target.