XRP Breakout Confirmed as ETF Inflows Reach Record High
XRP has pulled back from its recent high of $1.69 but is showing signs of improvement on its short-term chart.
The token's price is currently around $1.42, and top crypto analyst Ali Martinez believes the breakout is confirmed.
Martinez pointed to a 1-hour chart showing XRP breaking above a falling trendline as evidence of the breakout.
The next target for XRP is reportedly $1.70, according to Martinez, who also noted that if the token reaches this level and breaks through with strong buying, the next upside areas on the chart are around $2.09 and $2.35.
However, a decisive break below $1.37 could send XRP toward $1.20, putting the recent breakout under pressure.
The technical setup is also being supported by strong demand for XRP investment products, with U.S. spot ETFs attracting a record $110.49 million in net inflows for the week ending August 28.