Ripple (XRP) price is down by 2.46% to trade at $1.38 at the time of writing. This drop has pushed XRP to support at the 200-week EMA of $1.37. However, this drop also coincides with an increase in inflows to XRP ETFs and an SEC approval for XRP Treasury company Evernorth to list on NASDAQ.
XRP ETF Inflows Surge to 2026 Highs
XRP ETFs posted $26.20 million in inflows on August 28 per data from SoSoValue. The ETFs have now seen nine consecutive days of inflows as demand for the products rises.
SoSoValue also shows that XRP ETFs recorded inflows every day between August 24 and August 28. Because of this demand, the weekly inflows to these ETFs reached $110.49 million, with this being the highest inflows recorded by the products since December 2025.
The Bitwise ETF recorded the highest inflows during the week of $59.95 million, followed by Franklin Templeton with $28.7 million in inflows.
SoSoValue also shows that all of the five XRP ETFs that trade in the US have total net assets of $1.44 billion, with this being 1.66% of XRP’s market cap of $87.43 billion.
Evernorth Nears NASDAQ Listing
A recent report by CoinGape revealed that XRP Treasury company Evernorth has received approval from the SEC to go public at NASDAQ by merging with Armada Acquisition Corp.
Evernorth shareholders are going to vote on whether to go ahead with the company’s public listing on September 30.
Evernorth currently holds 473,276,430 XRP that is worth $672.3 million. These coins are equivalent to 0.473% of XRP’s circulating supply.
The listing will likely boost gains for the value of XRP, with Evernorth joining Strategy and Bitmine as a publicly listed crypto treasury company.
XRP Price Defends Support at 200-week EMA Amid Ongoing Profit Taking
The one-week chart for XRP shows that the price has dropped to the support at the 200-week EMA of $1.37. If XRP moves below this EMA, it will suggest that the long-term outlook is now bearish.
XRP’s move to this 200-week EMA also comes as the traders who made profits after the price moved from $1 to $1.66 begin to sell. If these traders continue to book profits, the price could drop to the 20-week EMA of $1.27.
However, if the selling pressure eases and buyers return, XRP could remain above this EMA of $1.37 before making another gain to the 100-week EMA of $1.569.
The RSI reading of 51 suggests that bulls have a slight upper hand over bears. Still, the RSI line that is dropping suggests that these bulls are losing their grip, and XRP price could reach $1.27.
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