XRP ETF Inflows Hit Record High, Price Target $2.00

XRP's price surge to $1.70 in mid-August was not driven by hype or speculation, but rather institutional investment pouring into spot XRP exchange-traded funds (ETFs).

The catalyst for this rally was the significant inflows of over $110 million into these ETFs during the week ending August 28, marking the highest weekly total this year.

Bitwise led the charge with approximately $59.95 million flowing into its XRP fund, followed closely by Franklin Templeton's offering which contributed roughly $28.7 million.

Total net assets across all XRP ETFs now sit at around $1.44 billion, accounting for over 1.5% of the token's total circulating supply since they went live less than a year ago.

Analysts believe that if XRP reclaims and holds $1.70, it could be on track to reach the $1.80 to $2.00 range, with on-chain metrics supporting this bullish case.