XRP Breaks Out, Surges 21%, with $2 Target in Sight
XRP has experienced a significant price surge of 21%, breaking out of months-long compression and putting the $2 level back in focus.
The breakout is attributed to both the broader crypto market rally, which has provided the necessary liquidity, and strengthening institutional demand. Spot XRP ETFs recorded $13.24 million in net inflows on August 20, marking three consecutive positive sessions since July.
This influx of capital is further reinforced by Bitwise clients purchasing approximately $16.89 million worth of XRP, demonstrating the growing interest in regulated investment products.
The $XRP daily chart shows a decisive structural breakout, with the token pushing toward $1.67 after breaking through the descending trendline and reclaiming the $1.55-$1.60 resistance band.