XRP Surges Nearly 5% Following RLUSD Pilot and Technical Breakout
- XRP increased by 4.9% to reach $2.35, breaking the $2.30 resistance level.
- The rally was supported by a near-doubling of institutional volume, totaling 164 million.
- A new stablecoin settlement pilot using RLUSD was launched by Ripple, Mastercard, WebBank, and Gemini.
- RLUSD has surpassed $1 billion in circulation and operates under New York’s Trust Charter.
- Support for XRP is now established at $2.32, with immediate resistance at $2.38–$2.39.
The recent price action indicates a bullish reversal for XRP, driven by significant institutional interest and the launch of the RLUSD pilot aimed at enhancing on-chain payment mechanisms.
With XRP’s price reaching $2.35 after a breakout above $2.30, traders are now focusing on sustaining this momentum towards an upside target of $2.50–$2.60.(Source)
