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.

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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