XRP has recorded a 1.5% gain in the past 24 hours, reaching approximately $1.37 after rebounding from a recent low of around $1.31. This recovery followed new attention after the Bank for International Settlements (BIS) published a proof-of-concept using the XRP Ledger, as well as sustained inflows into US spot XRP exchange-traded funds.
BIS pilots XRP Ledger for data verification
The Bank for International Settlements, a global financial institution serving central banks, released a working paper outlining a project that employed the XRP Ledger (XRPL) to assess whether official statistical datasets could be authenticated through cryptography. Researchers built a system that created cryptographic fingerprints for datasets and stored a summary value on the ledger, providing a way to verify the publisher and detect any post-publication changes.
Importantly, only these cryptographic fingerprints were stored on-chain, while the actual statistical content remained off the ledger. During trials, publishing the data on XRPL took between three and five seconds. Verification was even faster, requiring just one to two seconds. The test also showed that batching multiple datasets allowed efficient use of a single ledger entry for thousands of records.
The proof-of-concept took place on the XRPL Devnet, intended solely as an experimental demonstration. BIS clarified that it has not adopted the XRP Ledger for production but noted that the institutional interest could influence trader sentiment.
Mini dictionary: Bank for International Settlements (BIS), headquartered in Switzerland, acts as a bank for central banks worldwide, supporting monetary and financial stability through research, policy, and collaboration.
ETF inflows and price support
Alongside the news from BIS, US spot XRP ETFs registered inflows for the 11th consecutive session on September 1, bringing in $14.38 million, according to data from SoSoValue. Total net inflows during the latest streak have risen to around $170 million, and since their November launch, cumulative inflows have reached $1.68 billion. The continued demand has provided additional price support even as XRP retraced from highs seen in late August.
XRP returned to a significant on-chain demand area, with more than 4.8 billion tokens previously acquired in the $1.31-$1.38 range. After dipping to the lower end of this zone over the past day, the token recovered, according to Benzinga. A breakout above $1.38 would push XRP over the upper boundary, with transaction history indicating resistance near $1.60.
| Period | Net ETF Inflows | Cumulative ETF Inflows |
|---|---|---|
| Last 11 sessions | $170 million | $1.68 billion (since Nov) |
| September 1 | $14.38 million | – |
Selling pressure from Ripple’s scheduled September escrow unlock proved limited. After unlocking 1 billion XRP on September 1, Ripple returned 700 million XRP to new escrow contracts, leaving only 300 million outside of new locks. This reduced the immediate risk of a large increase in liquid supply.
XRP price analysis: Key support and resistance zones
On the daily chart, XRP trades near $1.37 after a sharp August rally from below $1.00 to around $1.50. The token has since pulled back but remains above the Donchian Channel’s lower band at $0.9928. The 21-day channel’s upper boundary lies at $1.5201, representing the next significant resistance. At current prices, XRP is trading roughly 11% below this target. If the price closes above $1.52, the next resistance area is expected around $1.60.
XRP price is consolidating between $1.34 and $1.40, with a move above $1.40 potentially supporting a return to the late-August highs between $1.50 and $1.52. Failure to break through would keep the token in its current range, while a drop below $1.34 could expose recent lows near $1.31.
The daily Money Flow Index currently stands at 44.62, having fallen from over 80 during August’s price spike. The indicator has dipped below the neutral level of 50, reflecting a decline in trading volume. A rebound above 50, along with a price move through $1.38, would indicate returning buyer strength.
On the 4-hour chart, XRP consolidated between $1.34 and $1.40 after a pullback from late-August highs. The Aroon indicator currently reads 80% for Aroon Up and 16% for Aroon Down, suggesting that recent highs have more weight. However, the Aroon Up level has decreased from 100%.
Momentum has also shifted, with the 4-hour Chande Momentum Oscillator recovering to 18.45 after dropping below zero. Moving into positive territory means that recent gains are now outweighing losses.
If XRP fails to clear $1.38 to $1.40, it risks remaining in its current band, while a decline below $1.34 could test support around $1.31. If $1.31 is lost, the broader daily chart points to support in the $1.25 to $1.26 area.
