- XRP dropped 3.45% to $1.33, underperforming the broader market due to selling pressure and resistance near $1.38.
- Meanwhile, Ripple launched a Treasury Management System enabling businesses to manage XRP, RLUSD, and fiat on a single platform.
Ripple’s XRP has faced a fresh price retracement, dipping 3.45% to $1.33 over the past 24 hours. The broader crypto market was slightly weaker, but XRP underperformed due to persistent selling and rejection at key resistance.
XRP Faces Selling Pressure and Resistance
XRP trading volume fell roughly 15% to $2.5 billion, while its market capitalization remains around $82 billion. Technical indicators show XRP failing to hold above $1.38, with high-volume selling confirming distribution. Rallies have been used as exit points, forming a series of lower highs and reinforcing a bearish trend.
The total crypto market cap fell 1.36%, and XRP underperformed Bitcoin’s 0.99% decline, indicating capital rotation away from the asset. Immediate support is at $1.28. A hold here may lead to consolidation, while a break above $1.35 could target a retest of $1.38. The RSI7 at 26.35 signals oversold conditions, suggesting a possible technical bounce if buying volume increases.
Ripple Launches Treasury Management System for Digital Assets
In a strategic move, Ripple launched a Treasury Management System (TMS) designed to integrate digital asset accounts with fiat. The platform enables businesses to manage XRP, RLUSD, and fiat on a single regulated system. This removes the need for separate custody solutions, streamlining operations for corporate treasuries.
The TMS represents a neutral-to-bullish development for XRP. By embedding the asset into enterprise financial infrastructure, it could boost institutional adoption and demand over time. While short-term price action remains bearish, this long-term utility may support XRP’s role in corporate treasury management.
What This Means for XRP Traders
Short-term technical trends are bearish, driven by distribution and selling pressure. However, oversold conditions may lead to a bounce if volume returns. Traders should watch support at $1.28 and resistance at $1.35 to $1.38 for potential entry and exit points.
Long-term, Ripple’s TMS may strengthen XRP’s value proposition, embedding it into institutional financial systems and potentially increasing adoption.
ALSO READ: Ripple Predicts $33 Trillion Stablecoin Volume at XRP Tokyo Event
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