XRP Faces Crucial Test as ETF Inflows Surge

XRP is facing a critical test as it hovers around $1.38 and challenges its 200-week exponential moving average (EMA) support at $1.37.

The cryptocurrency has declined by 2.46% in the past 24 hours, causing concern among market observers who believe a breakdown below this threshold could trigger a longer-term bearish trajectory.

However, some analysts are optimistic about XRP's prospects, with technical analyst EGRAG CRYPTO suggesting that defending the 300-week moving average near $1.03 could lead to accumulation phases and potential price targets of $2.00-$2.80.

Institutional interest in XRP continues to grow, with ETF inflows reaching a multi-month high of $110.49 million for the week ending August 28.