XRP rallied 4.9% to $2.35 in Tuesday’s session, breaking key $2.30 resistance on near-double institutional volume. The move marked the token’s strongest daily gain in a week and hedged against a decline in the broader market, with traders now eyeing a clean push towards $2.50.
News background
- Institutional flows circled back into XRP as risk assets corrected elsewhere, with large holders consolidating near $2.30 following a week of compression. Three consecutive hourly candles broke resistance on rising volume, signaling breakout-driven behavior.
- Adding to the sentiment, Ripple, MasterCard, Webbank, and Gemini jointly launched a settlement-based StableCoin pilot using the RLUSD on the XRP ledger to process fiat credit card payments.
- The initiative marks one of the first attempts by a regulated US bank to resolve real-world card transactions directly on a public blockchain. RLUSD, which recently surpassed $1 billion in circulation, operates under the New York Trust Charter, which provides a regulated framework for stablecoin-backed payment rails.
- Entrepreneurs interpreted the pilot as a potential validation of Ripple’s infrastructure beyond cross-border remittances—expanding business use cases at a time when StableCoin settlements are becoming the preferred on-chain banking mechanism.
Summary of Price Action
• Breakout sequence triggered after $2.30 retracement in 164m volume
• Session high hit $2.39 before light profit taking
• Support today anchored at $2.32; The previous objection became the base
• Momentum held by the final hour consolidation between $2.34-$2.35
• XRP registered higher highs and maintained a clean breakout channel
Technical Analysis
• TREND: Bullish reversal confirmed by higher low formation
• Support: $2.32 (new base), $2.21 (second)
• Resistance: $2.38–$2.39 immediate barrier; Upside Target $2.50-$2.60
• Volume: 95% Surge vs 24-hour average confirming institutional belief
• Momentum: RSI is rising, no signs of fatigue yet
• Structure: clean breakout above previous consolidation; intraday volatility 7.4%
What traders are watching
• If XRP can sustain a close above $2.35 and flip $2.38-$2.39 to support
• Continuation of the RLUSD-LED Institutional Narrative as MasterCard Tests On-Chain Settlements
• Quantitative post-breakout consistency—key for confirming fund-driven follow-through
• Pullback point towards $2.30 if momentum fades
• ETF and regulatory updates through mid-November that could boost bullish flows
