XRP Price Jumps as OSL Group Lists Ripple for Retail Trading
Ripple (XRP) price jumped 4% in 24 hours to $1.09, outperforming a broader market that rose 1.46%, primarily driven by a new retail trading approval in Hong Kong boosting demand-side visibility.
Regulatory approval in Hong Kong, as OSL HK listed XRP for retail trading, acting as a direct demand-side catalyst.
OSL Group today announced that its Hong Kong digital asset exchange, OSL HK, will open Ripple ($XRP) trading pairs to retail investors at 20:00 on July 29, becoming the first exchange in Hong Kong to support retail trading of XRP.
OSL HK will offer three $XRP trading pairs against USD and HKD to retail investors, including lightning-fast trading for XRP/USD and over-the-counter trading for XRP/USD and XRP/HKD. $XRP deposits and withdrawals can be conducted via the $XRP Ledger network.
This listing increases accessibility for millions of traders in a major financial hub, acting as a clear demand-side catalyst. The move validates XRP’s compliance stature and could attract fresh capital from Asian retail and institutional participants.
The broader crypto market rose 1.46%, with Bitcoin up 1.8%, providing a tailwind.
Concurrently, ecosystem news provided fundamental support: the XRP Ledger attracted $2.6 billion in Real-World Asset inflows over six months and Ripple secured full MiCA authorization in Europe.
While not the primary driver, positive market beta and steady utility growth helped amplify the coin-specific catalyst. The immediate macro trigger is the Federal Reserve’s rate decision expected later on July 29.
Technically, XRP is consolidating between key Fibonacci levels, with support at $1.09 (the 61.8% retracement) and resistance at $1.15.
The short-term bias is cautiously bullish above $1.09, but conviction remains low until a clear breakout occurs. The price reaction to the Fed announcement and whether volume expands on a move above $1.10.
The Hong Kong listing provided a tangible catalyst for the rally, supported by a rising market and solid ecosystem news. The market is watching if XRP can convert this regulatory win into sustained buying pressure and break above the $1.15 resistance in the next 48 hours.
Meanwhile, Grayscale CEO Peter Mintzberg filed a Form 144 dated July 28 with the SEC to sell 2,611 shares of the Grayscale $XRP Trust ETF (GXRP) for $53,394.95, or $20.45 per share.
The shares were bought on October 3, 2024, in a privately negotiated purchase from the trust; Cantor Fitzgerald is handling the sale on NYSE Arca.
Mintzberg is the third Grayscale insider to file on this fund after Barry Silbert and Craig Salm filed in January. A Form 144 states an intention to sell and is not proof the trade cleared. XRP Tanks on Red Sentiment over U.S. Clarity Act Pause
