XRP ETF Demand Fuels Breakout Towards $2 Target

XRP has been experiencing a volatile week, but a more significant story is unfolding away from the spot market. According to recent data, U.S.-listed XRP ETFs have attracted $18.98 million across September 8-10, while Bitcoin funds saw net outflows of approximately $449.45 million over the same period. Ethereum ETFs also lost $29.76 million on September 10, leaving XRP as the major crypto ETF category still attracting capital during the selloff.

The divergence is occurring as XRP approaches a technical level that could decide whether its August recovery continues. Currently trading around $1.36, up roughly 1% over 24 hours after falling as low as $1.32 on Friday, XRP has a key breakout level at $1.40 toward $1.58-$2. The 200-day EMA near $1.36 is identified by FXStreet as XRP's immediate support, while $1.40 remains the first resistance bulls need to reclaim.

Analysts suggest that if XRP can break through $1.40 and $1.58, it could strengthen its recovery setup. However, a sustained move beyond these levels would be necessary for the token to reach its next major resistance at $1.70 before potentially moving above $2.00.

Meanwhile, the technical setup is being supported by unusually persistent ETF demand. XRP funds took in $1.55 million on September 8, $12.29 million on September 9, and $5.14 million on September 10, putting them on course for a ninth consecutive positive week before Friday's final flow data.

Whales are also adding to their holdings, with addresses holding between 100,000 and 1 million XRP increasing their share of supply to about 9.4% despite the token falling below $1.40. This creates an unusual setup where institutional products and some larger wallets continue adding exposure while the price remains around 20% below its recent highs.