XRP Price Defends 200-Week EMA as ETF Inflows Hit Record High

XRP's price has dropped to $1.38 at the time of writing, but it is defending its 200-week EMA at $1.37. This comes as XRP ETFs post record-breaking inflows of $110.49 million for the week, with a total net asset value of $1.44 billion.

The Bitwise ETF recorded the highest inflows during the week of $59.95 million, followed by Franklin Templeton with $28.7 million in inflows. These inflows have been consistent over the past nine days, with XRP ETFs posting daily inflows between August 24 and 28.

In other news, Evernorth, a company that holds 473,276,430 XRP worth $672.3 million, is nearing its NASDAQ listing after receiving approval from the SEC to merge with Armada Acquisition Corp. This could boost gains for the value of XRP as another publicly listed crypto treasury company joins the market.