XRP surged up to 6% earlier today, November 6, after announcing RLUSD settlement and a technical breakout, with traders eyeing a clean push toward $2.50.
Key Takeaways:
- XRP rose roughly 6% following excitement around Ripple’s RLUSD pilot and strong technical momentum.
- The token traded an intraday high around $2.38, with RSI readings around 56–59, showing balanced but bullish conditions.
- Analysts warn that failure to hold support near $2.20 could invalidate the breakout, despite upside targets pointing toward $2.50.
Ripple’s RLUSD initiative, a U.S.-dollar-pegged stablecoin, has drawn renewed attention this week, sparking a noticeable uptick in XRP’s price. CoinDesk reported that the token jumped as traders interpreted the pilot as a sign of Ripple’s growing ecosystem integration, both within its payments network and upcoming stablecoin infrastructure.
The market reaction marked XRP’s best daily performance in roughly a week, breaking out from a consolidation pattern that had formed after last month’s volatile swings. According to market watchers, the rally was amplified by a series of short liquidations and renewed optimism in crypto investment sentiment tied to Ripple’s enterprise developments.
Ripple Unveils RLUSD Stablecoin Pilot
Ripple has officially launched a pilot program for RLUSD, its long-awaited stablecoin pegged 1:1 to the U.S. dollar. On its recent X (formerly Twitter) post announcing the said stablecoin outset, the company highlighted that the initiative aims to strengthen liquidity across Ripple’s payments network and expand the utility of XRP in bridging traditional finance and digital assets.
The RLUSD pilot, currently in limited deployment, is expected to facilitate faster cross-border settlements and improved transaction transparency. Ripple emphasized that RLUSD will operate on both the XRP Ledger and Ethereum blockchains, enhancing interoperability within the DeFi and payments ecosystems.
XRP Defies Broader Crypto Weakness
As of this writing (8:45AM UTC), XRP is trading at approximately $2.32, showing a 4.66% price increase over the past 24 hours. CoinGecko’s real-time market data reveals that the token peaked an intraday high of $2.38 and reached intraday lows near $2.21. ****This unprecedented surge outperformed the broader crypto market, where Bitcoin (BTC) saw a noticeable decline to $99,000 yesterday, as well as Ethereum’s (ETH) drop to around $3,100.
XRP’s daily trading volume climbed sharply, indicating strong buyer participation following Ripple’s RLUSD update. Technical data showed the RSI (Relative Strength Index) hovering between 56 and 59, suggesting bullish momentum with room for continued upside.
Traders now eye the $2.45–$2.55 resistance range, where a confirmed breakout could validate a run toward the $2.50 target. A close above these levels would strengthen the short-term bullish structure on both 4-hour and daily charts.
Analysts Warn of Key Support Levels Despite Bullish Setup
Despite optimism, analysts caution that XRP’s rally could face pullback pressure if momentum fades below $2.20, which remains a critical support area. Losing that level might invalidate the bullish structure, potentially leading to a retracement toward $2.00–$2.05.
Short squeezes on perpetual contracts were also reported, reinforcing how XRP’s moves often coincide with spikes in crypto trading activity during key announcements.
What’s Next?
The short-term outlook depends on whether XRP can maintain momentum above the $2.40 level and break through the $2.50 ceiling. Traders expect a period of consolidation before a decisive move, with watchpoints around RSI trends and daily trading volume.
Longer term, Ripple’s growing involvement in the stablecoin sector could provide a fundamental tailwind for XRP adoption. If RLUSD proves successful, Ripple may solidify its reputation as one of the few blockchain firms bridging crypto investment and real-world financial applications.
Summary
XRP spiked about 6% after Ripple announced an RLUSD stablecoin pilot and technical breakout, pushing traders to target $2.50 while analysts caution that support near $2.20 is critical to sustain the move.
