XRP has rebounded 32% in August after slipping below $1, even as the token pulls back 5% in the past day. US spot XRP ETFs extended inflows to nine straight sessions while whales sent over 1.4 billion tokens to Binance and pulled 231 million back out. Separately, Ripple-backed XRP treasury firm Evernorth filed an amended S-4 with the SEC as it works toward a Nasdaq listing.
XRP trades near $1.40, down about 5% over the past 24 hours after climbing as high as $1.70 during last week's broader crypto rally. Despite the pullback, the token is on track for a roughly 32% gain in August, its best monthly performance since July 2025, when it advanced about 35%.
The Motley Fool notes the token dropped a hair below $1 in August 2026 for the first time since 2024, before a rally sent its price up 52% in one week. Even after that boost, XRP remains down 50% over the last 12 months.
ETF inflows extend to nine sessions
Institutional demand for the ETF product has kept building through the pullback. US spot XRP funds recorded about $23.87 million in net inflows on Aug. 25, the largest daily haul since May 11, when they attracted $25.8 million. That extended the funds' run of positive flows to nine consecutive trading sessions.
The funds have pulled in more than $80 million during August, taking cumulative net subscriptions since launch to about $1.59 billion. But ETF demand alone has not historically set a price floor: the funds had already accumulated more than $1.47 billion of net inflows by late June even as XRP slid toward $1.
Whale flows turn two-way as the rally matures
Large whale holders have moved extraordinary amounts of XRP both onto and off Binance during the rebound. CryptoQuant data shows inflows into Binance reached approximately 1.451 billion XRP over 30 days, the highest four-week total in four months. At the same time, large withdrawals from the exchange surged to 231 million tokens by Aug. 21, more than four times the level recorded two days earlier and the highest in about six months.
Exchange deposits can precede selling but can also reflect trading or collateral management, while large withdrawals are often associated with accumulation. Without net-flow and wallet-level evidence, the simultaneous surge on both sides leaves overall whale positioning unresolved.
Dollar-denominated activity on the XRP Ledger has also accelerated, with Ripple's RLUSD stablecoin growing fast. Its supply crossed $2 billion last week, about $963 million of it on the XRPL.
Evernorth moves toward a Nasdaq listing
Separately, Ripple-backed XRP treasury company Evernorth filed Amendment No. 7 to its Form S-4 with the SEC on August 25, 2026, covering its proposed combination with Armada Acquisition Corp. II and Pathfinder Digital Assets. The filing corrects a clerical error that had left out a signature block for Ripple Labs and makes no other changes to the transaction terms.
The combined company is expected to list on Nasdaq under the ticker XRPN once the remaining regulatory steps are completed, giving investors another route to XRP exposure through equity markets rather than holding the token directly.
However structurally, none of Ripple's corporate activity feeds back into XRP's price. Every transaction on the XRP Ledger burns just 0.00001 XRP, a fee too small to tighten the coin's supply against a circulating supply of 62.7 billion tokens. The Motley Fool points to the mid-September Senate vote on the Clarity Act as a potential catalyst that could still move the price independent of Ripple's own dealmaking.
Sources: CryptoSlate, CoinGape, The Motley Fool
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