XRP surged 70% in early August, a move that Santiment had anticipated thanks to the appearance of 85 new wallets holding at least 1 million tokens just two days before the August 17-21 rally. These larger wallets, capable of absorbing supply and strengthening bids, have often preceded XRP’s sharpest moves. The token subsequently lost more than 8% following the Senate’s failure to advance the CLARITY Act, breaking below the $1.34 support level and falling to $1.26. On the institutional front, US-based XRP ETFs nonetheless attracted over $43 million in inflows in August and could extend their inflow streak to ten consecutive weeks.
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