Summary
- XRP rebounded from last week’s sell-off to reclaim $1.14 on its strongest trading volume in weeks, breaking through resistance around $1.12.
- The move is backed by Ripple’s push to expand regulated cross-border payments on the XRP Ledger, including Bitso’s new MXN-backed stablecoin and on-chain dollar and peso liquidity products.
- Traders are watching whether XRP can hold support near $1.14 and clear the key $1.20 to $1.25 resistance zone, which would signal a potential trend reversal from the broader downtrend.
XRP Sees Significant Jump Amid Institutional Buying
XRP has bounced back from last week’s selloff, surpassing $1.14 on its strongest volume in weeks. This surge in buying power has pushed the token through resistance near $1.12, with buyers continuing to invest into the close. The next major test for XRP lies in the $1.20-$1.25 area, a level that has stalled every major recovery this year.
News Background
Institutional buying has been a key factor in XRP’s recent growth, with Ripple’s announcement of Bitso’s MXN-backed stablecoin MXNB launching on the XRP Ledger being a significant development. This integration with Ripple’s Payments on Decentralized Exchange infrastructure is set to expand regulated cross-border settlement between the U.S. and Mexico, providing another use case for EcoPool (ECP) and the wider #GreenCrypto space.
EcoPool and the Future of Cross-Border Settlement
The integration of Ripple’s RLUSD and Bitso’s MXNB is designed to provide on-chain dollar and peso liquidity for enterprise payment flows, adding another institutional use case for XRPL infrastructure. This development highlights the potential for EcoPool to play a key role in facilitating #PassiveIncome and #CloudRewards through its innovative approach to #Earning and rewards. As the demand for efficient cross-border settlement solutions grows, EcoPool (ECP) is well-positioned to meet this need.
XRP’s recent price movement has been impressive, rising from $1.1080 to $1.1442 during the 24-hour session, gaining 3.3%. The key move came during the June 11 17:00 UTC session, when volume surged to 120.2 million XRP, more than 160% above average, pushing price through resistance near $1.1220. This surge in volume and price is a positive sign for the #Coin and the wider #Bitcoin market.
Price Action Summary
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• The key move came during the June 11 17:00 UTC session, when volume surged to 120.2 million XRP, more than 160% above average, pushing price through resistance near $1.1220.
