XRP Price Dips to Key Support Level Amid Strong Institutional Demand

XRP's price has dropped to about $1.38, nearing a key support level at $1.37. Despite this decline, institutional demand for XRP remains strong through U.S. XRP ETFs, which saw net inflows of $26.20 million on August 28.

This represents the ninth consecutive day of net inflows and totals $110.49 million for the week, the highest since December 2025.

Evernorth, a Ripple-backed company holding significant XRP, has received SEC approval for a Nasdaq listing via merger, with a shareholder vote set for September 30.

Technically, if XRP falls below $1.37, it could drop further to $1.27, but if buyers hold, a recovery toward $1.57 is possible.