XRP Price Eyes $2.10 Target as Bullish Flag Forms Amid Eight-Week ETF Streak

Key Highlights

• XRP has surged more than 3% over the last 24 hours, currently trading around $1.40 following consolidation after its August surge
• A decisive move above $1.50 could propel XRP toward $1.80, with the complete technical target reaching $2.10
• Spot XRP ETFs attracted $18.96 million during the week that closed September 4, marking a decline from the previous week’s $110.49 million
• Market sentiment shows a Crypto Fear and Greed Index reading of 73, indicating strong “Greed” levels
• Critical upcoming events include the Federal Reserve’s rate announcement on September 16 and a CLARITY Act procedural vote on September 15

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XRP has posted gains exceeding 3% during the previous 24-hour period, hovering near the $1.40 mark following a robust August advance that encountered resistance beneath $1.50. On September 7, the digital asset reached an intraday peak of $1.43 and touched a low of $1.38, maintaining a market capitalization of approximately $89.26 billion alongside daily trading volume approaching $1.46 billion.

Trading activity has experienced a significant decline since September 4, when XRP registered more than $4.17 billion in volume. This reduction indicates that the present consolidation phase is occurring with diminished market engagement.

The token successfully escaped from a near-term descending channel during early September. While this breakout remains valid, price action has not demonstrated substantial upward momentum since that time.

The 20-day simple moving average is positioned at $1.3954, marginally beneath current price levels. Extended timeframe averages sit considerably lower — the 50-day at $1.19, the 100-day at $1.15, and the 200-day at $1.27.

XRP ETF Flows Remain Positive Despite Deceleration

United States spot XRP exchange-traded funds attracted $18.96 million in net inflows during the week concluded September 4 — marking the eighth consecutive week of positive capital flows. This represents a considerable decrease compared to the preceding week’s $110.49 million.

Total cumulative net inflows have climbed to roughly $1.66 billion, while aggregate net assets stand at approximately $1.44 billion.

Technical Flag Formation Suggests Upside Potential

A bullish flag configuration has emerged on XRP’s daily timeframe chart. This pattern becomes active should price close decisively above $1.50 accompanied by substantial volume.

Should the breakout materialize, initial resistance appears at $1.80, while the complete measured move projects toward $2.10 — representing roughly 48% upside from present levels.

Market analyst Celal Kucuker shared a more ambitious forecast via X, establishing price objectives of $2.30, $3.30, $4.90, $7.50, and $11.60 for XRP during this bull cycle, advising followers to “save this chart, print it out, and hang it on your wall.”

Should price fail to penetrate $1.50 resistance, the consolidation phase may continue and gradually diminish the pattern’s validity.

Two significant developments are scheduled for mid-September. The Senate will conduct a procedural vote regarding the CLARITY Act on September 15. Following that, the Federal Reserve will deliver its interest rate determination on September 16.

A dovish pivot from the Federal Reserve could enhance risk-on sentiment and provide tailwinds for XRP. Conversely, a more restrictive policy stance might pressure prices lower.

Open interest in XRP futures contracts declined 15.5% during the period spanning August 17 through August 31, despite price appreciation. The CME’s proportion of open interest expanded from 10% to 17%, indicating growing participation from institutional and regulated market participants.

Network activity on the XRP Ledger, measured by active addresses, experienced a spike during late August before retreating. The 7-day moving average of active addresses has crossed above the 30-day average — historically, this crossover has preceded heightened volatility in either direction.

For the bullish technical configuration to remain viable through the latter portion of September, XRP must defend the $1.35 support level and successfully breach $1.50 resistance.

The post XRP Price Eyes $2.10 Target as Bullish Flag Forms Amid Eight-Week ETF Streak appeared first on Blockonomi.

Source: https://blockonomi.com/xrp-price-eyes-2-10-target-as-bullish-flag-forms-amid-eight-week-etf-streak/