XRP Price Tests $1.37 Support as ETF Inflows Surge

XRP price fell 2.46% to around $1.38, putting the cryptocurrency close to a critical long-term support level at the 200-week exponential moving average (EMA) of $1.37. The decline comes despite strengthening institutional demand through XRP ETFs and progress toward Evernorth’s planned Nasdaq listing.

U.S. XRP ETFs recorded $26.20 million in net inflows on August 28, according to SoSoValue. This extended their positive streak to nine consecutive trading days. The funds attracted inflows during every session between August 24 and August 28, bringing weekly net inflows to $110.49 million, the strongest weekly total since December 2025.

Bitwise led the weekly activity with $59.95 million in inflows, while Franklin Templeton followed with $28.7 million. The five XRP ETFs trading in the United States now hold approximately $1.44 billion in total net assets, equivalent to about 1.66% of XRP’s $87.43 billion market capitalization.

Institutional interest could receive another boost from XRP treasury company Evernorth. The Ripple-backed firm has received SEC approval to pursue a Nasdaq listing through a merger with Armada Acquisition Corp. Evernorth shareholders are scheduled to vote on the proposed transaction on September 30.

Evernorth currently holds 473,276,430 XRP valued at roughly $672.3 million, representing approximately 0.473% of XRP’s circulating supply. A successful listing would place the company among publicly traded firms pursuing cryptocurrency treasury strategies.

Meanwhile, XRP’s technical outlook remains closely tied to the $1.37 support level. A sustained break below the 200-week EMA could strengthen the bearish case and expose XRP to the 20-week EMA near $1.27.

Profit-taking may also pressure the XRP price after its previous rally from $1 to $1.66. However, if buyers defend $1.37 and selling pressure weakens, XRP could attempt a recovery toward the 100-week EMA at approximately $1.569.

The weekly Relative Strength Index stands near 51, indicating a slight advantage for buyers. However, the declining RSI trend suggests bullish momentum is weakening, keeping the risk of a move toward $1.27 in focus.