“The move marked the token’s strongest daily gain in a week and outperformance against a declining broader market, with traders now eyeing a clean push toward $2.50.”, — write: www.coindesk.com
(CoinDesk Data)
- XRP surged 4.9% to $2.35, breaking key resistance on increased institutional volume.
- Ripple, Mastercard, and others launched a stablecoin settlement pilot using RLUSD on the XRP Ledger.
- Traders view the pilot as a validation of Ripple’s infrastructure beyond cross-border remittances.
News Background
- Institutional flows rotated back into XRP as risk assets corrected elsewhere, with large holders accumulating near $2.30 following a week of compression. Three consecutive hourly candles broke through resistance on rising volume, signaling conviction-driven breakout behavior.
- Adding to 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, providing a regulated framework for stablecoin-backed payment rails.
- Traders interpreted the pilot as a potential validation of Ripple’s infrastructure beyond cross-border remittances — broadening enterprise use cases at a time when stablecoin settlements are becoming the preferred on-chain banking mechanism.
Price Action Summary• Breakout sequence triggered after $2.30 reclaim on 164M volume
• Session high hit $2.39 before light profit-taking
• Support now anchored at $2.32; prior resistance turned base
• Momentum held through 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 (secondary)
• Resistance: $2.38–$2.39 immediate barrier; upside target $2.50–$2.60
• Volume: 95% surge vs 24-hour average confirms institutional conviction
• Momentum: RSI rising, no exhaustion signals yet
• Structure: Clean breakout above prior consolidation; intraday volatility 7.4%
What Traders Are Watching• Whether XRP can sustain closes above $2.35 and flip $2.38–$2.39 into support
• Continuation of RLUSD-led institutional narrative as Mastercard tests on-chain settlements
• Volume consistency post-breakout — key for confirming fund-driven follow-through
• Pullback risk towards $2.30 if momentum fades
• ETF and regulatory updates through mid-November that could reinforce bullish flows
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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BTC recently fell below $100,000 as macro uncertainties weighed over spot ETF inflows.
- Traders are increasingly cautious in the bitcoin options market, with a notable rise in demand for lower strike put options on Deribit.
- Bitcoin’s price has fallen over 18% from its peak, influenced by macroeconomic pressures and reduced demand for spot ETFs.
- Open interest in $80,000 and $90,000 put options is high, indicating hedging against further price declines.
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