XRP is under pressure and has fallen below 3.10 USD, while ETH and SOL are rising against the trend driven by ETF funds.

Ripple (XRP) fell below $3.10 during the Asian session on August 18, under the shadow of the delay in the approval of the spot ETF, significantly lagging behind Ethereum (ETH) and Solana (SOL). Meanwhile, the U.S. spot Ethereum ETF is leading Bitcoin ETF in terms of capital inflow and volume, becoming the market focus.

ETF latency impacts XRP, ETH and SOL strengthen against the trend

The U.S. Securities and Exchange Commission (SEC) recently approved the conversion of the Bitwise 10 Crypto Index Fund (BITW) and the Grayscale Digital Large Cap Fund (GDLC) into ETFs, but simultaneously issued a suspension order, delaying the official launch.

This move has cooled market expectations for the approval of a Spot XRP ETF, and the price of XRP has continued to fall since reaching a historical high of $3.6606 on July 18.

In contrast, ETH and SOL benefit from the capital demand brought by the approved Spot ETF:

ETH: Increased by 1.13% on August 17, with a capital inflow of 2.85 billion USD.

SOL: Increased by 0.72% on the same day

BTC: The capital inflow during the same period was only $547.6 million, indicating that capital rotation is leaning towards altcoins.

XRP Price Outlook: Key Resistance and Support Levels

On August 17, XRP fell by 0.59% to $3.09, partially reversing the gains from the previous day. In the short term, the trend of XRP will depend on:

1. Spot XRP ETF approval progress

2. The progress of Ripple obtaining a US chartered bank license.

3. Update on collaboration with SWIFT

4. Dynamics of U.S. Legislation

Key technical levels:

Breakthrough at $3.20 → Expected to challenge the high point of $3.3826 on August 8, further impacting the historical high of $3.6606.

fell below 3.00 USD → or test the 50-day EMA, even probing the August 3 low of 2.7254 USD

Comparison of Fund Flows between BTC and ETH ETFs

ETF fund flow data shows that the capital-raising ability of ETH ETF far exceeds that of BTC ETF:

ETH ETF: Net inflow of 2.8521 billion USD for the week of August 15.

BTC ETF: Net inflow of 547.6 million USD during the same period

This gap highlights the strong demand for ETH in the market and reflects that funds are shifting from BTC to the altcoin market.

Institutional Holdings and Long-Term Demand Support BTC

Although capital rotation is leaning towards ETH and SOL, BTC still receives institutional support:

Strategy (MSTR): Holding 628,946 BTC

Metaplanet: Holds 18,113 BTC, plans to reach 30,000 BTC by 2025 and 1% of the total Bitcoin supply by 2027.

These long-term holding plans provide bottom support for BTC, but short-term gains may be limited by the relative weakness of ETF fund inflows.

Key Events of Market Attention

In the coming weeks, the following factors will be the main drivers of the price trends of XRP, ETH, SOL, and BTC:

ETF Market Dynamics: Spot XRP ETF Approval and ETH ETF Fund Flow Trends

U.S. Legislative Progress: The CLARITY Act and Other Cryptocurrency Regulatory Bills

Macroeconomic data: US PMI, unemployment claims data

Federal Reserve Policy Signals: FOMC Meeting Minutes and Official Speeches

Conclusion

XRP is currently caught in the uncertainty of ETF approval delays, while ETH and SOL are rising against the trend thanks to ETF capital inflow and market demand.

In the context of capital rotation and regulatory news, investors need to closely monitor ETF capital flows and policy dynamics, as this will directly affect the next movements in the cryptocurrency market.