XRP Price Surges 21%, Breakout Ignites Fresh Rally Towards $2 Target
XRP's price has seen a significant surge of over 21% in recent days, breaking out of months of compression and putting the $2 level back on the market's radar.
The breakout is attributed to both the broader crypto market rally and increasing institutional demand for XRP. Spot XRP ETFs have recorded $13.24 million in net inflows on August 20, marking a three-consecutive positive sessions streak since July.
Additionally, Bitwise clients have purchased approximately $16.89 million worth of XRP, further reinforcing the demand narrative around regulated investment products.
XRP's daily chart shows a decisive structural breakout from a descending trendline that had been in place for months. The token has reclaimed the $1.55-$1.60 resistance band and is currently trading near $1.67.