Key Takeaways
- XRP hovered around $1.37 on September 1, declining 1.38% amid pressure from climbing Treasury yields on speculative assets
- Spot XRP ETFs in the United States posted their largest weekly capital influx of 2026, reaching $110.49 million during the week concluded August 28
- The benchmark 10-year Treasury yield neared 4.80%, redirecting investment flows away from digital currencies
- Breaking below the $1.34 threshold could trigger a decline toward $1.30, with further downside to $1.20 if bearish momentum persists
- Technical Elliott Wave projections indicate a potential Wave 3 rally to $2.90–$3.10, contingent on completing a corrective pullback first
XRP retreated 1.38% to reach $1.3592 on September 1, surrendering some of August’s gains as strengthening US government bond yields encouraged capital rotation out of higher-risk digital assets.
The cryptocurrency had momentarily climbed to $1.69 throughout August before encountering resistance. Since then, price action has consolidated within a narrow corridor spanning $1.35 to $1.40.
Notwithstanding the pullback in price, institutional appetite via US-listed spot XRP exchange-traded funds showed resilience. During the seven-day period concluded August 28, these investment vehicles captured net capital inflows totaling $110.49 million — marking the strongest weekly performance year-to-date for 2026.
Focusing on August 31 specifically, single-day inflows registered $5.64 million. Canary’s XRPC product dominated with $4.71 million in new capital, while Bitwise contributed approximately $930,000.
Aggregate ETF holdings climbed to $1.45 billion, representing roughly 1.67% of XRP’s approximately $85 billion total market capitalization. Bitwise commanded the largest position with $507.23 million in managed assets, trailed by Franklin’s $370.02 million and Canary’s $341.60 million.
The yield on 10-year US Treasury notes pushed toward 4.80%, marking its most elevated reading since January 2025. Higher fixed-income returns typically divert capital away from cryptocurrency markets as risk-adjusted returns become less favorable.
Market analyst XRP Update highlighted on X that the token is “running out of room,” observing that the 4-hour chart displays compression between support around $1.35 and declining resistance near $1.40. According to the analyst, a decisive breakout from this consolidation pattern could catalyze the next substantial directional movement.
$XRP IS RUNNING OUT OF ROOM.
The 4H chart is squeezing between support near $1.35 and descending resistance around $1.40.
A clean break from this structure could trigger the next major move.
— XRP Update (@XrpUdate) September 2, 2026
Technical Indicator Breakdown
The Relative Strength Index registered 39.56, positioned below the midpoint but not yet indicating oversold conditions. The MACD indicator measured -0.0088, hovering marginally above its signal line at approximately -0.0090.
A decisive close beneath $1.34 would likely expose the path toward $1.30. Should downward momentum intensify, the $1.20 zone emerges as the subsequent critical support area.
Conversely, successfully recapturing $1.38 could redirect XRP toward the $1.50 region, with $1.60 representing an extended upside objective.
Wave Analysis and Legislative Developments
TradingView analyst Kap_Waves outlined a possible Wave 2 correction unfolding, forecasting a retracement toward the $1.15–$1.25 range before any significant upward continuation. This framework positions Wave 3 objectives at $2.90 and $3.10, though these remain theoretical projections rather than guaranteed outcomes.
Senator Kevin Cramer expressed confidence that the CLARITY Act holds substantial prospects for progression during the September 15 Senate voting session. Prediction market participants on Kalshi assigned a 91% likelihood to a Senate vote occurring before October, whereas Polymarket users estimated only a 13% probability of the legislation achieving enactment during 2026.
Additionally, the SEC unveiled proposed regulations facilitating blockchain integration within securities settlement processes, a move potentially indicating regulatory evolution even as legislative debates surrounding cryptocurrency frameworks persist in Congress.
XRP was trading at $1.39 according to the most recent market data.
The post XRP (XRP) Struggles at $1.36 Despite Record ETF Interest — Key Support Zones Ahead appeared first on Blockonomi.
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