After a recent pullback due to liquidations, XRP remains above a key support level, with multiple fundamental factors suggesting its upward momentum is poised to strengthen again.
Support at Key Structural Level Remains Firm
During the peak of liquidations, XRP briefly broke below the previous quarter's high near $1.43, a move that initially suggested a potential local top might be forming. Since then, the price has maintained above this level, which traders view as the most critical technical indicator in the current scenario.
A confirmed break below $1.43 would indicate the recent high was indeed a local top; holding above it opens the door to advancing toward the next target of $1.82.
RLUSD Growth and ETF Inflows
Two fundamental developments are considered supportive for the XRP price. The circulating supply of Ripple's stablecoin, RLUSD, has grown from $1.57 billion on August 12th to $2.1 billion.
This growth is seen as a positive signal because it represents actual revenue for Ripple, independent of XRP's market capitalization, potentially reducing the company's reliance on XRP sales for funding. Additionally, Exchange-Traded Funds (ETFs) linked to XRP have recorded net inflows exceeding $40 million.
Order Flow Favors XRP Over Bitcoin
The price action of XRP against Bitcoin (tracked via the XRP/BTC trading pair) shows signs of stabilization after a decline the previous day. Order flow data indicates that long positions were closed while short positions were opened since Thursday afternoon, yet the price held steady amidst these flows. While funding rates are typically high and were expected to pull back under selling pressure, this combination is viewed as a positive sign.
What's Next?
A break above $1.55 is seen as the key confirmation level for a move toward $1.82, a scenario most likely to play out in the coming week, potentially extending into September. A drop in Bitcoin to the $70,000 to $74,000 range is considered the primary risk that could drag XRP lower.





