XRP Consolidates Around $2.28 as Ripple Achieves Regulatory Wins
XRP traded within a narrow range of $2.27 to $2.32 over the past 24 hours, influenced by global trade tensions and diverging central bank policies.
Key Points
- Ripple secured regulatory wins in Dubai, supporting its stablecoin initiatives like RLUSD.
- Ondo Finance's Short-Term U.S. Government Treasuries (OUSG) launched on the XRP Ledger, increasing institutional access to on-chain products.
- Digital Commercial Paper (DCP), backed by U.S. Treasuries, is now available on the XRP Ledger, enhancing efficiency.
- DCP is managed by Guggenheim Treasury Services, offering maturities up to 397 days.
Price Action
- XRP fluctuated between $2.264 and $2.319, reflecting a 2.37% range.
- A high-volume support zone was established at $2.273-$2.280, with consistent buying interest.
- Resistance formed at $2.315, marked by multiple price rejections and increased volume.
- XRP closed at $2.284, indicating consolidation within the range.
- A sharp decline of 2.17% occurred at 01:55, dropping from $2.285 to $2.280, despite substantial buying volume of 3.9 million units.
- The highest trading volume was recorded at 01:32 (1.8M), confirming buyer support at lower levels.
- An ascending support trendline indicates potential stabilization, with a possible breakout if resistance at $2.315 is breached.