XRP is holding near the $1.37 level as its recent rebound loses momentum, keeping traders focused on a possible push toward $1.70 while attention stays on Bitwise's XRP-linked ETF, reported to have topped $500 million in assets.
Why XRP is still eyeing the $1.70 level
TLDR KEYPOINTS
- XRP is trading near $1.37, with $1.70 framed as the next upside target.
- The rebound has slowed, and bullish momentum has softened at current levels.
- Bitwise's XRP ETF is reported to have crossed $500 million, supporting sentiment but not confirming a breakout.
The upside case
The bullish setup keeps $1.70 in view as the level traders are watching, sitting well above where XRP currently changes hands on spot markets. For the region, that gap matters to XRP holders on exchanges like Coins.ph in the Philippines and Indodax in Indonesia, where the token remains a heavily traded asset. For related coverage, see Southeast Asia Crypto Market Update: Global Events and Regional Impact for August 31, 2026.
The momentum constraint
XRP is described as holding near $1.37 rather than extending higher, and the rebound is losing steam. A cooling move like this typically means buyers have paused, leaving the $1.70 target dependent on fresh demand rather than existing momentum. For related coverage, see Southeast Asia Crypto Market Update: Global Events and Regional Impact | August 31, 2026.
How Bitwise's ETF crossing $500M changes the XRP narrative
The main external catalyst in this story is Bitwise's XRP ETF, reported to have topped $500 million in assets. That milestone is what keeps XRP in focus even as price action slows. Bitwise has already shown scale in other products, with its Solana ETF crossing $1 billion in assets under management.
Sentiment support, not price confirmation
An ETF milestone strengthens interest and signals institutional appetite, but it does not by itself confirm a breakout. The distinction matters: sentiment can improve while the spot price stays anchored near $1.37, which is roughly the picture the current setup describes.
Why ASEAN traders are watching
For Southeast Asian markets, a growing regulated ETF wrapper abroad shapes how regional platforms and regulators view XRP demand. It arrives as regional oversight tightens, with Singapore's MAS advancing new stablecoin rules that keep digital-asset structuring on the local agenda.
What could confirm or derail XRP's rebound from here
Confirmation signals
A sustained move above the $1.37 holding zone, paired with continued ETF interest, would be the practical sign that buyers are back in control and that $1.70 is realistic. Until XRP clears its current range, the target stays aspirational.
Failure signals
The rebound has not failed, but it has weakened. If momentum keeps fading while price sits near $1.37, the setup risks stalling regardless of the ETF headline, a dynamic worth tracking alongside broader Southeast Asian market conditions. The tension between a bullish target and a slowing pace is the core question for the next move.
The takeaway ties price and narrative together: Bitwise's ETF milestone gives XRP a sentiment tailwind, but the token still has to prove it at the $1.70 level before the rebound can be called anything more than a pause near current prices.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.