Ripple (CRYPTO: XRP) has held steady above the 200-day moving average, helped by the strong fundamentals, including the rising demand from American investors and growing ETF inflows. XRP trades at $1.4147 today, September 5, up by 43% from its lowest point this year.
Ripple USD Growth is Accelerating
Ripple Labs launched RLUSD, its stablecoin in December 2024. After months of steady growth, the token’s performance has accelerated recently. Artemis data shows that the total RLUSD supply has jumped by 51% in the last 30 days, reaching a record high of $2.4 billion.
This performance makes it one of the fastest-growing players in the stablecoin industry, beating popular names like Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC).
More data shows that both the number of RLUSD holders and transaction volumes have continued to grow in recent months. This growth has been driven largely by rising inflows on the XRP Ledger, where RLUSD assets have reached $1.1 billion.
XRP is also reacting to the strong ETF inflows, which are signaling robust demand among American investors. These funds have had inflows in all months other than March when they lost $38 million. They have added $13 million this month so far after adding $159 million in August this year.
The same trend is happening in the futures market, where the open interest has jumped in the past few weeks. Also, the amount of XRP tokens in circulation has dropped in key exchanges like Binance and Coinbase, a sign of increased accumulation.
Traders have rotated to the crypto market as jitters of US public debt continued. It has jumped to over $40 trillion, and the uptrend is continuing. It also happened as investors reacted to the ongoing volatility in the stock market.
XRP Price Remains Above a Key Level
XRP chart | Source: TradingView
Technically, the daily chart shows that the XRP price has held steady above the important support level of $1.3093, its lowest level on September 2. It has remained stable above the 200-day Exponential Moving Average (EMA), a sign that bulls remain in control.
XRP has formed a bullish flag pattern, which is made up of a vertical line and a descending channel. Therefore, these technicals, together with the ETF inflows and RLUSD growth means that the token may continue rising in the coming days or weeks. The initial level to watch will be at $1.6975, its highest point in August.
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