XRP Targets $2 as Bitwise ETF Records 500 Million

XRP is holding near the same consolidation zone it’s occupied since retreating from August’s $1.70 peak. The token has shed 8.2% over the past week but remains up nearly 26% on a 30-day basis, a reminder that short-term pullbacks don’t always erase medium-term structure.

Bitwise’s spot XRP ETF, on the other hand, has crossed $507 million in assets under management, with the fund holding 364.8 million XRP as of late August. August inflows into XRP ETFs more than doubled July’s total, and analyst Ali Martinez called XRP’s breakout “confirmed” with a $1.70 target, a call that aged awkwardly once price slipped back below that resistance band within days.

14 years in, and the ripple:native community continues to be unstoppable.

The Bitwise XRP ETF (XRP) crossed $500,000,000 in AUM—just 9 months after launch.

Grateful for the chance to expand mainstream access to XRP and steward investors’ exposure to the opportunities in this… pic.twitter.com/sgeMDiY5ce

The tension here is straightforward: institutional demand via ETF wrappers is accelerating even as spot price cools off. That gap is exactly the kind of setup that either resolves into a squeeze or a fakeout, and the technicals below suggest which scenario is currently favored.

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XRP’s daily RSI sits near 60.6, or above the 50 midline, meaning momentum hasn’t flipped bearish, but it has cooled meaningfully from overbought territory reached during the August run. Price is consolidating in the $1.36–$1.38 band, a zone that previously capped rallies as resistance and now needs to hold as support.

Immediate support sits at $1.30–$1.35. A daily close below that range would break the sequence of higher lows from August and open the door to $1.27. First resistance is $1.50–$1.60; XRP needs to reclaim and hold that zone before another test of $1.70 becomes credible.

• Bull case: ETF inflows persist, support holds at $1.35, XRP reclaims $1.60 and pushes toward $1.70–$2.00.
• Base case: Range-bound chop between $1.30 and $1.50 while the market digests the September 1 escrow unlock.
• Bear case: Close below $1.30 invalidates the higher-low structure, exposing $1.27 and reviving the longer downtrend from $3.

Traders watching for confirmation before $2 becomes more than a headline number should track the $1.35 level closely, see further breakdown in this XRP price prediction analysis.

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XRP holders riding the ETF narrative have already captured most of the easy upside from the $1.00 to $1.70 move. At current levels, a rally back to $2 caps out around 45% from the $1.38 price point. It’s solid, but not the kind of asymmetric setup that early-stage capital tends to chase.

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