XRP's Rally Falters Amid Resistance at $1.45

XRP's recent rally has come to an end, at least temporarily. In August, the cryptocurrency surged by 43.7% in just one week, thanks in part to strong trading activity in Korea and significant inflows into US-based exchange-traded funds (ETFs) totaling $77.47 million.

Despite a slight pullback to around $1.39 from a high of $1.45, institutional demand for XRP remains robust. This is evidenced by the fact that there are currently $1.5 billion in spot XRP ETF assets and significant holdings by major firms like Goldman Sachs.

Technically speaking, XRP faces resistance at the $1.41-$1.45 level. If it can overcome this hurdle, the cryptocurrency may be poised for further gains. However, a failure to break through could lead to a deeper correction, potentially pushing prices down towards $1.36 or lower support zones.