XRP Price Pulls Back Despite Record ETF Inflows

XRP's price has dropped about 7% over the past week to $1.36, following a strong August rally that saw it rise over 30%. This pullback comes despite record weekly inflows of $110.49 million into U.S. spot XRP ETFs, indicating mixed market sentiment.

The technical indicators show XRP is at a critical support level around $1.34; holding this could preserve gains, while falling below may lead to further declines toward $1.28.

Upcoming events like Ripple's scheduled escrow release and a U.S. Senate vote on crypto regulation could influence XRP's near-term price action.