XRP rose 4.9% to $2.35 in the Tuesday session, breaking the key resistance at $2.30 on nearly doubling institutional volume. The move marked the token’s strongest daily gain in a week and outperformance against a generally declining market, with traders now eyeing a clean push towards $2.50.
News background
- Institutional flows swung back into XRP as risk assets corrected elsewhere, with large holders accumulating near $2.30 after a week of compression. Three consecutive hourly candles broke resistance on rising volume, indicating conviction-driven breakout behavior.
- To boost sentiment, Ripple, Mastercard, WebBank, and Gemini jointly launched a stablecoin-based settlement pilot using RLUSD on the XRP Ledger to process fiat credit card payments.
- The initiative marks one of the first tests by a regulated US bank to settle real-world card transactions directly through a public blockchain. RLUSD, which recently surpassed $1 billion in circulation, operates under the New York Trust Charter, providing a regulated framework for payment gateways backed by stablecoins.
- Traders interpreted the pilot as a potential validation of Ripple’s infrastructure beyond cross-border remittances, expanding business use cases at a time when stablecoin settlements are becoming the preferred on-chain banking mechanism.
Price Action Summary
• Breakout sequence triggered after recovery to $2.30 on volume of 164 million
• Session high reached $2.39 before some slight profit taking
• Support is now anchored at $2.32; previous resistance converted to base
• Momentum continued until last hour consolidation between $2.34 and $2.35
• XRP posted higher highs and maintained a clean breakout channel
Technical analysis
• Trend: bullish reversal confirmed by formation of higher lows
• Support: $2.32 (new base), $2.21 (secondary)
• Resistance: immediate barrier from $2.38 to $2.39; bullish target between $2.50 and $2.60
• Volume: 95% increase vs. 24-hour average confirms institutional conviction
• Momentum: RSI rising, no signs of exhaustion yet
• Structure: Clean break above previous consolidation; intraday volatility 7.4%
What traders are watching
• If XRP can sustain closes above $2.35 and turn $2.38 to $2.39 into support
• RLUSD-led institutional narrative continues as Mastercard tests on-chain agreements
• Volume consistency after breakout: key to confirm fund-driven follow-through
• Risk of pullback towards $2.30 if momentum fades
• Regulatory and ETF updates through mid-November that could reinforce bullish flows
