XRP surged 4.9% to $2.35 during Tuesday’s session, surpassing the critical $2.30 resistance with nearly double the institutional volume. This move marked the token’s strongest daily gain in a week, standing out against a broader market decline, as traders now aim for a solid push toward $2.50.
News Background
- Institutional flows shifted back into XRP as risk assets corrected elsewhere, with large holders accumulating near $2.30 after a week of consolidation. Three consecutive hourly candles breached resistance on increasing volume, indicating a conviction-driven breakout.
- Moreover, Ripple, Mastercard, WebBank, and Gemini launched a stablecoin-based settlement pilot using RLUSD on the XRP Ledger to process fiat credit card payments.
- This initiative represents one of the first tests by a regulated U.S. bank to settle real-world card transactions directly on a public blockchain. RLUSD, which has recently exceeded $1 billion in circulation, operates under New York’s Trust Charter, providing a regulated foundation for stablecoin-backed payment systems.
- Traders view the pilot as a potential validation of Ripple’s infrastructure beyond cross-border remittances, expanding enterprise applications as stablecoin settlements gain traction as the preferred on-chain banking mechanism.
Price Action Summary
• Breakout sequence initiated after reclaiming $2.30 on 164M volume
• Session high reached $2.39 before light profit-taking
• Support established at $2.32; prior resistance now base
• Momentum sustained through the final hour consolidation between $2.34–$2.35
• XRP recorded higher highs and maintained a clean breakout channel
Technical Analysis
• Trend: Bullish reversal confirmed with higher low formation
• Support: $2.32 (new base), $2.21 (secondary)
• Resistance: $2.38–$2.39 immediate barrier; upside target $2.50–$2.60
• Volume: 95% increase compared to 24-hour average indicates institutional confidence
• Momentum: RSI rising, no exhaustion signals observed yet
• Structure: Clean breakout above previous consolidation; intraday volatility at 7.4%
What Traders Are Watching
• Whether XRP can maintain closes above $2.35 and convert $2.38–$2.39 into support
• Continuation of the RLUSD-driven institutional narrative as Mastercard tests on-chain settlements
• Consistency in volume post-breakout — crucial for confirming fund-driven momentum
• Risk of pullback toward $2.30 if momentum subsides
• ETF and regulatory updates anticipated through mid-November that could reinforce bullish trends
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