XRP Price Slides While Ripple Launches TMS for Digital Assets
In a fresh price retracement, Ripple (XRP) dipped 3.45% to $1.33 over the past 24 hours, underperforming a slightly weaker broader market, primarily driven by persistent selling pressure and a rejection at key resistance.
XRP trading volume declined by about 15% to $2.5 billion over 24 hours, while market capitalisation hovers around $82 billion amid Ripple’s latest launch of a Treasury Management System (TMS) for digital assets.
Technical breakdown from resistance, with high-volume selling confirming distribution after XRP failed to hold above $1.38. Based on data obtained from a crypto exchange on Thursday, XRP’s price declined from $1.37 to $1.33, accelerating after a clear rejection near the $1.38 resistance zone.
High-volume selling confirmed the move, indicating distribution, with rallies being used as exit opportunities. Crypto analysts observed that the token formed a series of lower highs, reinforcing the bearish structure.
The drop occurred as the total crypto market cap fell 1.36%. XRP underperformed Bitcoin’s 0.99% decline, suggesting capital rotation away from the asset.
The immediate support to watch is $1.28; a hold here could set up a consolidation. The key trigger is whether spot buying can absorb the selling that caused the recent rejection.
If XRP breaks and holds above $1.35, it could target a retest of $1.38. However, with the RSI7 at 26.35 indicating oversold conditions, a bounce is possible but needs volume confirmation.
The trend is bearish, but oversold conditions may lead to a technical bounce. XRP’s price is being driven down by technical distribution and a lack of supportive leverage flows, despite modest ETF inflows.
Ripple launched a Treasury Management System (TMS) that integrates native digital asset accounts, enabling businesses to manage XRP and fiat on a single regulated platform.
Ripple’s newly launched Treasury Management System integrates digital asset management capabilities, enabling businesses to manage both fiat and digital assets, such as XRP and RLUSD, on a single platform, thereby streamlining asset management processes and enhancing operational efficiency.
This eliminates the need for separate custody solutions, streamlining operations for corporate treasuries. This is a neutral-to-bullish development for XRP’s long-term utility, as it embeds the asset directly into enterprise financial infrastructure, potentially increasing institutional holdings and demand for use over time. Liquidity Eases as Banks Placement at CBN Window Drops by 25%
