XRP Jumps as Ripple, Coinbase Partner to Expand Access to RLUSD
XRP jumped to $1.33 on Wednesday as Ripple and Coinbase signed a partnership agreement to expand access to Ripple USD (RLUSD), according to an official statement.
The news fueled buying optimism in the crypto market, with trading data showing a 30% surge in trading volume over the last 24 hours and transaction value hovering above $2 billion.
Ripple and Coinbase, two of the leading providers of blockchain solutions across traditional and digital finance, today announced a partnership to bring Ripple USD to Coinbase, significantly expanding market access and utility for the enterprise-grade stablecoin in the U.S.
Starting today, retail and institutional clients can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and the Coinbase Retail app, with 1:1 conversion from U.S. dollars and other supported USD-denominated stablecoins into RLUSD.
Coinbase Global Exchange customers will follow, including the ability to use RLUSD as collateral.
“Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use,” said Jack McDonald, SVP of Stablecoins at Ripple.
“Our partnership with Coinbase meets that demand head on. It brings RLUSD to the largest institutional client base in the U.S. crypto market, across execution, settlement and custody – all in one place.”
“Institutions want access to a full range of payment options, alongside the execution, settlement, and custody they already rely on.
“Adding RLUSD on Coinbase is another step toward the everything exchange — one venue where clients choose the assets that fit their strategy, on infrastructure built for security and compliance.” said Brett Tejpaul, Co-CEO, Coinbase Institutional.
Expanding RLUSD Access Across Markets
Support for deposits and withdrawals across XRPL, Base and Ethereum offers users greater flexibility to move RLUSD across blockchain ecosystems. On Base, Ripple will provide liquidity to support the growth of RLUSD.
Since launching in December 2024, RLUSD has surpassed $2.4 billion in market capitalization, driven by growing adoption across exchanges, payments, institutional markets and onchain finance. Together, these integrations extend RLUSD across spot trading, institutional prime brokerage, derivatives and DeFi, broadening both its distribution and utility.
RLUSD is a regulated, enterprise-grade stablecoin that is redeemable for U.S. dollars and backed by reserves including U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents. RLUSD is built for regulated finance, with transparency, trust, and institutional utility at its core.
Jack McDonald, SVP of Stablecoins at Ripple, will join Brett Tejpaul, Co-CEO of Coinbase Institutional on stage at Ripple Swell in New York City today, October 28 at 4:45pm ET to discuss the next phase of institutional stablecoin adoption.
XRP move was also supported by a beta-driven lift from Bitcoin’s recovery, fueled by renewed spot ETF inflows and positioning ahead of the Federal Reserve’s rate decision.
The gain closely mirrored Bitcoin’s 0.66% rise, indicating a beta-driven move. The broader catalyst was a second day of net inflows into U.S. spot Bitcoin ETFs, totaling $176 million on October 27, which helped lift the total crypto market cap.
XRP’s short-term direction remains heavily influenced by Bitcoin’s momentum and macro-driven flows, rather than its own fundamentals. XRP is a top asset in the current “2017/18 Alt Season” narrative, which may have boosted sentiment.
Technically, the price is testing the upper boundary of a descending channel and the 50% Fibonacci retracement level near $1.34, a key resistance zone. The 30% spike in trading volume suggests increased buying interest at this level.
While broader narrative buzz exists, the price has not yet confirmed a sustainable breakout, making this a contributory rather than primary factor. A decisive 4-hour close above $1.34 to confirm a breakout from the bearish channel structure.
The immediate trend hinges on two concrete factors: the Fed’s rate decision (a hold is widely expected) and the $1.34–$1.38 resistance zone.
If XRP holds above $1.34 with confirming volume post-announcement, the next targets are $1.40 and then $1.50. The invalidation scenario is a rejection at resistance, which would likely send the price back toward the crucial October support at $1.26. NVDAB Rises as Investors React to Nvidia’s Meta AI Investment
