XRP rose 4.9% to $2.35 in Tuesday’s session, breaking through key resistance at $2.30 on nearly doubled institutional volume. The move marked the token’s strongest daily gain in a week and bettered a falling broader market, with traders now eyeing a clean push towards $2.50.
News background
- Institutional flows rotated back into XRP as risk assets corrected elsewhere, with large holders accumulating near $2.30 after a week of compression. Three consecutive hourly candles broke through resistance on rising volume, signaling conviction-driven breakout behavior.
- Adding to the sentiment, Ripple, Mastercard, WebBank and Gemini jointly launched a stablecoin-based settlement pilot using RLUSD on the XRP Ledger to process fiat credit card payments.
- The initiative marks one of the first tests by a regulated US bank to settle real-world card transactions directly over a public blockchain. RLUSD, which recently surpassed $1 billion in circulation, operates under New York’s Trust Charter, which provides a regulated framework for stablecoin-backed payment rails.
- Traders interpreted the pilot project as a potential validation of Ripple’s infrastructure beyond cross-border money transfers — 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 of 164M. volume
• Session high hit $2.39 before slight profit
• Support now anchored at $2.32; prior resistance turned base
• Momentum held through consolidation in the last hour between $2.34-$2.35
• XRP recorded 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 (secondary)
• Resistance: $2.38–$2.39 immediate barrier; upside target $2.50-$2.60
• Volume: 95% increase vs. 24-hour average confirms institutional conviction
• Momentum: RSI rising, no signs of exhaustion yet
• Structure: Pure breakout over prior consolidation; intraday volatility 7.4%
What Traders See
• Whether XRP can sustain close above $2.35 and turn $2.38-$2.39 for support
• Continuation of the RLUSD-led institutional narrative as Mastercard tests settlements in the chain
• Post-breakout volume consistency — key to confirming fund-driven follow-through
• Pullback risk towards $2.30 if momentum fades
• ETF and regulatory updates until mid-November that could amplify bullish currents
