XRP traded lower on Friday, mirroring the broader crypto market’s pullback, but on-chain data revealed growing strength in Ripple’s stablecoin ecosystem. The mixed technical outlook for XRP comes as Ripple USD (RLUSD) activity accelerates sharply, signaling increased adoption within Ripple’s expanding financial infrastructure.
RLUSD transaction volume surges past $4B
XRP was changing hands at $2.32, down more than 10% from its yearly peak. Despite the decline, Ripple’s RLUSD stablecoin continued to gain traction, crossing the $1 billion asset milestone less than a year after launch, according to data from Artemis.
Transaction activity has risen notably: adjusted RLUSD volume jumped 210% in the past 30 days to surpass $4 billion, while transaction counts increased 26% to around 480,000. This expansion highlights accelerating utility across Ripple’s ecosystem, even amid volatile market conditions.
Ripple Labs’ recent strategic acquisitions are expected to further boost RLUSD adoption. The firm acquired Hidden Road, now renamed Ripple Prime, a major institutional liquidity platform that processes billions of dollars daily. Ripple also purchased GTreasury, a treasury management company handling multi-billion-dollar flows annually.
In addition, Ripple has partnered with Gemini, Mastercard, and WebBank to pilot RLUSD for card settlement a move that could enhance stablecoin integration in traditional payment networks.
ETF optimism and ecosystem growth support sentiment
Beyond RLUSD’s progress, investor sentiment toward XRP may be lifted by institutional developments. Both 21Shares and Bitwise are advancing applications for XRP-based ETFs, with listings expected later this month. Analysts suggest that an approved ETF could catalyze renewed interest in XRP, similar to how Bitcoin and Ethereum ETFs have influenced their respective markets.
XRP technical analysis: mixed outlook persists
The daily chart for XRP presents a mixed technical picture. On the bearish side, the formation of a death cross where the 50-day moving average crosses below the 200-day moving average typically signals potential for further downside.
Conversely, bullish indicators are emerging. XRP has formed a double-bottom pattern around $2.1838 with a neckline near $2.68, while both the Relative Strength Index (RSI) and Percentage Price Oscillator (PPO) show a bullish divergence, suggesting waning selling pressure.
Elliott Wave projections also indicate that XRP could be entering its second impulsive phase, implying potential upside toward the $3 resistance level. However, a decisive move below $2.1838 would invalidate this bullish outlook.
Overall, while technical signals remain divided, Ripple’s expanding stablecoin footprint and upcoming ETF catalysts could set the stage for renewed momentum in XRP over the coming weeks.
