Against the backdrop of rapidly rising U.S. Treasury yields and markets once again betting on a Fed interest rate hike in September, XRP remained around $1.38 on Tuesday with little change throughout the day. However, looking at its performance over the past week, the coin's price has still fallen by approximately 6.8%, indicating that macroeconomic pressures have not completely subsided.
U.S. Treasury yields rise to high levels
U.S. 10-year Treasury yields rose to 4.8%, reaching a level not seen since January 2025. Rising oil prices have sparked renewed concerns about inflation, and the U.S. dollar has also strengthened, putting more pressure on risk assets.
Reuters, citing data from Federal Funds futures, reports that market expectations for a Fed interest rate hike at its September meeting have risen to 68%, up from 35% before Jackson Hole speech. Fed Chairman Kevin Warsh stated that if inflation does not cool down sufficiently, the Fed still has room for further action. Board member Michael Barr also indicated that if price pressures do not subside quickly, interest rates may need to be raised further.
XRP ETF Weekly inflow reaches a new high
Despite the tightening macro environment, US spot XRP ETF still recorded significant capital inflows. As of the week ending August 28, such products saw a net inflow of $110.49 million in a single week, reaching the highest level since 2026.
- Cumulative net inflow of approximately $1.66 billion
- Total net assets amount to approximately $1.44 billion.
- 24-hour trading volume of approximately $1.78 billion
However, the ETF funds did not immediately translate into a strengthening price. Over the past week, XRP still fell by nearly 7%, indicating a divergence between the buying momentum from regulated investment channels and the trend in the spot market.
$1.35 level attracts attention
In the short term, the range of $1.35 to $1.36 remains a focal point for market attention, as this area has provided support multiple times recently. On Tuesday, XRP fluctuated roughly between $1.36 and $1.40, with $1.40 serving as the first resistance level, while $1.45 is a more crucial recovery point.
On-chain data also shows a divergence. XRP Ledger The number of transactions in each ledger has significantly increased, but the volume of payments and the number of active accounts have declined, indicating that the level of activity on the chain has not improved accordingly. Next, the Federal Reserve meeting from September 15th to 16th, as well as the previously released employment and inflation data, will continue to influence the market's short-term judgment regarding XRP.
