XRP price targets $2.10 target, forming a bullish flag during eight-week ETF winning streak

Key Highlights

• Despite slowing growth, XRP ETF funds flow remains positive.
• Technical patterns show upside potential.

XRP has gained more than 3% in the past 24 hours, has undergone consolidation after a sharp rise in August, and is currently trading at around US$1.40. If it can decisively break through the key resistance level of $1.50, XRP is expected to move towards $1.80, while the full technical target points to $2.10.

Spot XRP exchange-traded funds (ETFs) attracted $18.96 million in inflows in the week ended September 4, down from $110.49 million in the previous week. In terms of market sentiment, the Crypto Fear and Greed Index read 73, showing a strong level of "greed".

Important upcoming events include the procedural vote on the CLARITY Act on September 15 and the Federal Reserve's interest rate decision on September 16. These macro factors will have a profound impact on the direction of the market.

Price Trend and Technical Analysis

XRP has recently hovered around US$1.40 after rising strongly in the previous period and encountering resistance below US$1.50. In the previous 24-hour cycle, XRP recorded an increase of more than 3%. On September 7, the digital asset hit an intraday high of US$1.43 and dropped to US$1.38. The market value remained at approximately US$89.26 billion, and the average daily trading volume was close to US$1.46 billion.

Since September 4, when XRP trading volume exceeded US$4.17 billion, market activity has dropped significantly. This reduction suggests that the current consolidation phase has been accompanied by a decrease in market participation. The token successfully broke through the short-term downward channel in early September. Although this breakthrough is still valid, the price has not shown strong upward momentum since then.

In terms of technical indicators, the 20-day simple moving average is at US$1.3954, slightly below the current price level. The long-term moving average is lower-the 50-day moving average is $1.19, the 100-day moving average is $1.15, and the 200-day moving average is $1.27.

ETF capital flows continue to be positive

The U.S. spot XRP ETF achieved a net inflow of US$18.96 million in the week ended September 4, which is the eighth consecutive week of actual capital inflows. Although there is a significant decrease from the previous week's US$110.49 million, the overall trend is still positive. Total cumulative net inflows have climbed to approximately US$1.66 billion, and total net assets are approximately US$1.44 billion.

Bullish flag pattern suggests upside potential

Bullish flag pattern appears on the XRP daily chart. If the price decisively closes above $1.50 with a large volume, this pattern will be activated. If support around $1.38 remains solid, the next technical target is $1.8815. The structure is showing a bullish trend, and the key lies in confirming the signal.

Once a breakthrough occurs, preliminary resistance appears at $1.80, while the full measured moving target points to $2.10, which means there is about 48% room for upside from the current position. If prices fail to break through the $1.50 resistance level, the consolidation phase may continue and gradually weaken the effectiveness of the pattern.

Analyst Views and Market Sentiment

Market analyst Celal Kucuker shared a more optimistic forecast on social media, setting price targets for XRP in this bull market at $2.30,$3.30,$4.90,$7.50 and $11.60 respectively, and advised followers to save the chart for reference.

In contrast, if the long technical configuration is to remain feasible in late September, XRP must hold on to the US$1.35 support level and successfully break through the US$1.50 resistance level.

Macro Environment and On-Chain Data

There were two major developments in mid-September: the Senate will hold a procedural vote on the CLARITY bill on September 15; the Federal Reserve will then announce its interest rate decision on September 16. A dovish stance by the Fed could increase risk appetite and provide a tailwind to XRP; conversely, a tighter policy stance could put pressure on prices.

Derivatives market data showed that open interest in XRP futures contracts fell by 15.5% between August 17 and August 31 despite price increases. However, the proportion of open interest on the Chicago Mercantile Exchange (CME) increased from 10% to 17%, indicating increasing participation by institutional and regulated market participants.

In terms of on-chain activity, the number of active addresses on XRP Ledger declined after a surge at the end of August. The 7-day moving average of active addresses has crossed the 30-day moving average-historically, this crossing has often signaled sharp swings in direction in the future.