XRP Price Increases to $2.264 Amid Market Uncertainty
XRP's price increased from $2.194 to $2.264 in the past 24 hours, despite broader market uncertainty and institutional outflows totaling $28.2 million. The token's performance is linked to its utility in cross-border payments amid rising global trade tensions.
The U.S. government's Digital Asset Stockpile, which includes XRP, supports its fundamentals during this price consolidation phase.
Key Developments
- Ripple CEO Brad Garlinghouse denied plans to acquire Circle but expanded stablecoin initiatives with RLUSD on the XRP Ledger.
- Ripple's acquisition of Hidden Road signals expansion into infrastructure that connects decentralized finance with traditional finance.
- In the UAE, Ripple is developing tokenized real estate projects.
Technical Analysis Summary
- XRP rose from $2.194 to $2.264 over 24 hours.
- Support established at $2.190-$2.195 despite outflows.
- Resistance noted at $2.284 with volume peaking at 39.6 million.
- Breakout occurred at 15:00, with a 2.5% surge on 84.7 million volume.
- Price pulled back slightly to $2.255 before rebounding to $2.265.
- Final trading minutes showed strong momentum and bullish sentiment.