Wrapped XRP (wXRP) is set to expand across multiple blockchain networks, including Ethereum, Solana, Optimism and HyperEVM, opening XRP to broader decentralized finance use without dependence on unregulated bridging solutions.
Hex Trust said it will issue and custody the tokenized asset, which is fully backed 1:1 by native XRP. The initiative is designed to extend XRP’s functionality beyond the XRP Ledger, allowing the asset to be deployed across DeFi protocols alongside Ripple’s RLUSD stablecoin.
The launch is expected to begin with more than $100 million in total value locked, delivering immediate liquidity and reducing early adoption friction. Authorized merchants will be able to mint and redeem wXRP through a regulated, automated framework, with all underlying XRP held in segregated institutional custody.
By eliminating reliance on third-party bridges, the structure enables XRP participation in swaps, liquidity pools and collateral strategies across DeFi platforms. RippleX said the rollout reflects growing institutional demand to access XRP and RLUSD across a wider crypto ecosystem.
Despite the constructive long-term implications, the announcement failed to generate immediate upside momentum, indicating that traders remain focused on broader market positioning and macro-driven flows.
Technical Analysis
XRP continues to trade within a defined consolidation range, with steady demand forming near the $2.00 psychological level and supply consistently emerging above $2.05. The inability to break higher despite supportive developments suggests ongoing distribution rather than momentum accumulation.
Repeated defenses of the $2.00–$2.02 area indicate longer-term holders are comfortable supporting price at those levels. However, each advance toward $2.04–$2.06 has been met with volume-backed selling, reinforcing the view that larger participants are using rallies to adjust exposure.
Short-term structure remains neutral to bearish while price trades below the $2.06–$2.08 supply zone. A decisive close above that region would be required to shift bias toward trend continuation instead of range maintenance.
Price Action Summary
XRP rose 0.56% to $2.0341 but underperformed the broader crypto market by approximately 1.17%. Trading volume climbed 12.34% above weekly averages, signaling institutional activity despite limited net price progress.
The session low was set near $1.985 following a sharp selloff on elevated volume, before buyers stepped in to reclaim the $2.00 handle. Price later consolidated between $2.02 and $2.04, with resistance capping upside attempts into the close.
The combination of elevated volume and muted follow-through supports the view that the session reflected repositioning rather than fresh directional conviction.
What Traders Should Know
XRP remains range-bound, with $2.00–$1.985 acting as the primary demand zone and $2.05–$2.06 defining near-term supply. Elevated volume without expansion points to continued distribution into strength.
While the Hex Trust wXRP rollout materially strengthens XRP’s long-term DeFi and cross-chain narrative, near-term price action continues to be governed by technical structure and relative market rotation.
Until XRP can reclaim and hold above $2.06, rallies are likely to face selling pressure. A breakdown below $1.985 would expose downside toward the mid-$1.90s, while a confirmed close above resistance could reopen upside toward the $2.12–$2.18 region.
For now, XRP remains a tactical range trade rather than a confirmed breakout candidate.
