XRP (XRP-USD) logged a 28.5% price gain in August, marking its best August performance since 2021. Trading activity picked up momentum during the final two weeks of the month. Spot ETF inflows accelerated rapidly over that span, drawing $150.28 million of the month’s total $153.55 million intake in the final 14 days.
Institutional buying remained stable across nine consecutive positive sessions. However, overall ETF capital remains small relative to XRP’s $87 billion market valuation. While May recorded $130 million in ETF inflows without driving price gains, August marked the first month where large capital inflows lined up directly with a strong token rally.
September Could Reverse XRP’s Recent Gains
Historical performance patterns suggest that September could reverse recent gains. In seven of the last eight years, XRP’s price movement in September ran opposite to its August performance. During the two previous years where August closed positive, September experienced notable drops, falling 14% in 2020 and 19.6% in 2021.
On-chain wallet distribution aligns with these seasonal concerns. Santiment data reveals that holders who acquired XRP between March and May reduced their token share from 6.41% down to 5.76% during the August surge. These investors held through five months of losses and sold as prices recovered toward breakeven levels, transferring supply to short-term buyers.
XRP’s Technical Indicators Show Key Support Around $1.34 Level
XRP currently trades near $1.37 and continues to move within a declining price channel established in January. The token sits below its 200-period exponential moving average at $1.56, indicating ongoing overhead resistance.
Chart analysts on X, such as @egragcrypto, identify the $1.34 to $1.36 price range as critical technical support. A break below $1.34 opens downside risk toward lower support zones at $1.15, $0.98, and $0.81. Conversely, bullish momentum requires a two-day price close above the August high of $1.69 to confirm further upside, with the Federal Reserve policy meeting on September 15 acting as a near-term catalyst.
