$1.42
XRP (XRP) has jumped by nearly 3% in the past 24 hours, as the crypto market continues to consolidate following its late-August rally.
A challenging macroeconomic backdrop continues to weigh on the performance of crypto assets, as odds of a rate hike in September just increased to 60%.
Even though the market has already priced in a rate increase in September, sentiment remains positive as indicated by the Crypto Fear and Greed Index, which currently sits at 72. This means that investors remain in Greed mode despite the latest pullback.
Meanwhile, net inflows to exchange-traded funds (ETFs) linked to XRP started the month at $13 million, resulting in a daily average of $3.3 million. A projection of these inflows gives us an estimated monthly total of around $60 to $70 million, which would imply a 50%+ drop compared to the previous month.
However, it is still too early to predict such a target. The situation could change drastically depending on the comments made by the Chairman of the Federal Reserve, Kevin Warsh, following the central bank’s interest rate decision on September 16th.
Turning to on-chain data, active addresses within the XRP Ledger experienced a strong spike in late August but have been progressively retreating since then, as trading volumes and activity have gone back to normal levels.
However, a crossover between the 7-day and 30-day moving average for this metric took place back then. In previous instances, this signal has anticipated strong price moves in both directions.
Hence, although this is not a directional signal, it could mark the beginning of a specific trend. In this case, considering that we are coming out of a massive uptrend, we could expect the continuation of such a move following this spike in activity.
For reference, the last time that this signal popped up was in August 2026. Even though the price initially plummeted, it accurately anticipated the late-August spike.
Heading to the daily chart, we can see that XRP has formed a bullish flag pattern. This is a typical continuation setup that emerges after a strong price movement.
The fact that the flag is inclined downwards, it indicates aggressive profit-taking by early buyers and scarce activity from late buyers, who should supposedly be taking advantage of this drop to position for the continuation of the rally.
Nonetheless, this flag pattern could still result in the resumption of the previous uptrend if the price breaks the $1.50 area, which is the flag’s highest point.
We are still in positive territory for our previous XRP price prediction. However, we need that breakout to stay on track toward that signal’s target at $1.80.
Meanwhile, our full projection for XRP based on the flag’s pole size would be $2.10. This implies a 48% upside potential for the token for the next few weeks.
Alejandro Arrieche specializes in drafting news articles that incorporate technical analysis for traders and possesses in-depth knowledge of value investing and fundamental analysis.