XRP is holding near the $1.37 mark as its recent rebound loses momentum, while a Bitwise XRP exchange-traded fund reportedly crossing $500 million in assets keeps trader attention fixed on whether the token can extend toward a $1.70 price target.

TLDR KEYPOINTS

• XRP is trading around $1.37 with upward momentum cooling.
• A Bitwise XRP ETF is reported to have topped $500 million in assets.
• The $1.70 level remains the focus if buyers regain control.

Why XRP is holding near $1.37 as bullish momentum fades

XRP is changing hands close to $1.37, with the move taking place inside a rebound rather than a fresh breakout. The token is defending recovered ground, but it is no longer accelerating higher. For related coverage, see NFT Market Update: Trading Activity and Creator Economy Signals | Evening August 31, 2026.

“Losing momentum” in this context means the pace of buying has slowed: price is stabilizing rather than pushing up. That kind of flattening often signals indecision, with neither buyers nor sellers holding a decisive edge. The same cooling has surfaced across digital assets in our morning NFT and creator-economy market update. For related coverage, see NFT Market Update: Trading Activity and Creator Economy Signals | Afternoon, August 31, 2026.

The gap between the current price and the $1.70 level frames the setup, leaving defined upside on the table without confirming that the move is already underway. For traders and market observers, that makes the current stretch a pause point rather than a confirmed trend change, especially as XRP’s next move remains tied to whether demand can stay strong enough to sustain the rebound.

How Bitwise’s XRP ETF crossing $500 million changes the narrative

Alongside the price action, a Bitwise XRP ETF is reported to have surpassed $500 million in assets. Asset growth of that scale is a signal of institutional interest, giving the XRP story a driver beyond short-term chart movement.

ETF traction can support broader sentiment because it reflects sustained allocation rather than fast-money trading. Bitwise has shown appetite for scaling its crypto ETF lineup, with its Solana ETF becoming the first to reach $1 billion in assets, a reference point for how quickly these products can grow. See: https://nftenex.com/bitwise-solana-etf-first-to-hit-1-billion-aum/

Still, a growing ETF does not automatically translate into an immediate spot price breakout. Fund inflows and secondary-market price can move on different timelines, so the milestone reads as a narrative catalyst rather than proof of a one-to-one price reaction. That distinction matters in a market where product milestones can boost attention even when the token’s day-to-day pricing remains subdued.

What XRP needs to reclaim momentum and test $1.70

The path to $1.70 is conditional. With XRP near the current level, buyers would need to convert cooling momentum back into sustained follow-through before that target comes into play.

Broader market mood will shape that outcome, and gauges such as the crypto Fear & Greed Index offer a read on whether risk appetite is returning or fading. A stalling rebound leaves the upside case unproven for now, while renewed sentiment could reopen it. See:

For creators and collectors watching XRP as settlement infrastructure, the ETF milestone matters most if capital keeps flowing in future reporting periods, a dynamic echoed in the overnight creator-economy trading signals tracked elsewhere on the market. Related coverage includes: https://nftenex.com/nft-market-update-trading-activity-creator-economy-signals-overnight-september-1-2026/ and https://nftenex.com/nft-market-update-trading-activity-creator-economy-signals-september-1-2026/.

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.