Bitwise XRP ETF Tops $500M as Analyst Sees $1.70 Price Target

XRP's price has retreated to around $1.37 after failing to hold its August peak near $1.70, leaving traders divided over whether its recent breakout remains intact.

Despite losing 8.2% weekly, XRP is still up 25.9% monthly overall, and the Bitwise XRP ETF has topped $500 million in assets under management (AUM), holding approximately 365.35 million tokens worth $507.23 million as of August 30.

Analyst Ali Martinez believes that XRP's next target is $1.70, but warns that it must first hold support near $1.30-$1.35 and reclaim the resistance range between $1.50-$1.60 before another test of $1.70 becomes more credible.