XRP Holds Steady Near $2.28 Amid Ripple’s Strategic Wins and XRPL Growth
XRP (XRP) traded within a narrow band between $2.27 and $2.32 over the past day, showing stability despite ongoing market uncertainty driven by global trade tensions and varying central bank policies.
CoinDesk’s AI analysis highlights XRP’s strengthening support levels as the market digests Ripple’s recent regulatory progress and the expanding utility of the XRP Ledger ecosystem.
Notable Developments Supporting XRP
- Ripple’s regulatory breakthroughs in Dubai and advancements in stablecoin projects like RLUSD have boosted investor confidence, even as macroeconomic headwinds persist.
- The XRP Ledger now hosts Ondo Finance’s Ondo Short-Term U.S. Government Treasuries (OUSG), providing a new institutional-grade real-world asset product onchain.
- Digital Commercial Paper (DCP), collateralized by U.S. Treasuries and managed via Guggenheim Treasury Services on the Zeconomy platform, adds further depth to the XRPL, offering flexible maturities up to 397 days.
Market Dynamics
During the session, XRP’s price ranged from $2.264 to $2.319, representing a 2.37% trading range. A solid support level formed between $2.273 and $2.280, where buyers stepped in repeatedly to prevent declines.
Resistance around $2.315 proved strong, with price failing to break above on multiple attempts amid higher-than-average volume.
In the session’s closing hour, XRP dropped 2.17% from $2.285 to $2.280 but recovered swiftly as buyers pushed 3.9 million tokens at the support level.
Peak volume occurred at 1.8 million units at 01:32 UTC, confirming sustained demand near support. The ascending support trendline signals price stabilization and hints at a potential breakout should resistance at $2.315 be cleared.
Summary of Technicals
- XRP price fluctuated between $2.264 and $2.319, a 2.37% range.
- Support solidified at $2.273–$2.280 with strong buyer interest.
- Resistance capped at $2.315, facing multiple rejections.
- Closed at $2.284, reflecting a phase of consolidation.
- Sharp dip of 2.17% late in the session countered by significant volume.
- Highest volume recorded at 1.8 million units confirmed buying strength.
- Ascending trendline suggests short-term stability and possible breakout.
