XRP targets $8 as Wave 5 unfolds, ETF inflows hit $19 million

XRP is displaying a potential bullish continuation pattern as it develops within the fifth wave of a broader macro trend. Various technical indicators, higher market participation, and robust institutional demand are supporting the recovery outlook for the token. However, analysts say further gains rely on sustained upward momentum and favorable market conditions in the overall crypto sector.

Technical Analysis Indicates Bullish Structure

Currently, XRP is priced at $1.41, with a 24-hour trading volume of $1.64 billion and a market capitalization of $88.47 billion. Over the past day, the price has remained stable without notable fluctuations.

Crypto analyst EGRAG CRYPTO has identified a potential advance for XRP based on a macro Elliott Wave analysis. According to this setup, the initial major target zone lies between $6.19 and $8.07, where resistance could emerge, potentially triggering profit-taking.

XRP’s latest Elliott Wave setup highlights $6.19 to $8.07 as the first major Wave 5 target area, while a breakout above may drive the price higher.

If the momentum continues and XRP breaks above this zone, further price extensions are possible. The analysis highlights $11.45 as a significant stretch target, with cycle expansion potentially pushing XRP to $13 or higher. In the event of intensified momentum, XRPs price could attempt to reach $17, and, under exceptionally bullish circumstances, even $27.

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These targets remain technical possibilities and not assurances, depending on persistent demand, sufficient liquidity, ongoing momentum, and favorable market conditions.

TradingView chart data shows that XRP had been on a downtrend from June through early August. The token remained under key moving averages before stabilizing around the $1.00 level. Low price volatility during consolidation caused the Bollinger Bands to contract.

Toward the end of August, XRP made a sharp move above $1.70 but retraced quickly, settling at $1.41, which is currently serving as support.

XRP is now trading above its 20, 50, 100, and 200-day Exponential Moving Averages (EMAs), indicating a transition from bearish to bullish technical structure.

Coinglass data shows mixed signals in the XRP derivatives market. While trading volumes increased by 14.81% to $2.84 billion, open interest declined by 1.49% to $3.11 billion. This divergence suggests rising volatility, as traders reassess the coin’s prospects.

Despite optimistic forecasts and improving technical factors, XRP is currently trading in neutral territory. Market caution persists, partly due to a cooldown in Bitcoin’s price after recent gains.

XRP ETF Inflows Reach New Highs

BankXRP data shows that US spot XRP Exchange-Traded Funds (ETFs) attracted $18.96 million in net inflows for the week. This reflects continued investor demand for regulated exposure to XRP even amid volatile market sentiment.

Assets managed by US spot XRP ETFs have now reached $1.48 billion, while total net inflows stand at $1.68 billion. This trend underscores growing institutional involvement in XRP, as ETFs enable investors to gain exposure without direct custody of the tokens.

The steady influx of capital into ETFs is reinforcing the narrative of increased institutional interest in XRP. The cryptocurrency’s next price move is likely to depend on sustained buy-side activity, key resistance levels, and prevailing market sentiment in the crypto sector.

Whether XRP can confirm a breakout and reach new targets will hinge on ETF inflows, derivatives market trends, and the asset’s ability to maintain its bullish technical structure.

Traders are expected to monitor ETF inflows, volume, derivatives activity, and XRP’s price action closely in the coming days.

Mini dictionary: ETF (Exchange-Traded Fund), an investment fund traded on stock exchanges that allows investors to gain exposure to assets (such as cryptocurrencies) without directly holding them.