XRP Price Dips Below $1.40 After August Rally, Analyst Sees Rebound Potential

XRP's price has dropped to $1.37 after reaching an August peak of around $1.70, according to recent data. The token fell by 8.2% over the past week but still managed a monthly gain of 25.9%. Analyst Ali Martinez sees potential for XRP to rebound and reach its previous high, but this would require it to hold support between $1.30 and $1.35 and reclaim the range of $1.50 to $1.60.

The Bitwise XRP ETF has increased its holdings to 365.35 million tokens worth around $507.23 million as of August 30, indicating growing institutional interest in the asset despite recent price volatility. However, momentum indicators suggest weakening short-term bullishness, which may indicate caution for investors watching XRP's next moves.