Wrapped XRP (wXRP) is preparing to go live across multiple blockchains, including Ethereum, Solana, Optimism and HyperEVM, expanding XRP’s reach into decentralized finance without relying on unregulated bridge infrastructure.
Hex Trust said it will issue and custody the token, which represents native XRP on a fully backed 1:1 basis. The product is designed to extend XRP’s utility beyond the XRP Ledger, allowing the asset to be deployed across DeFi applications alongside Ripple’s RLUSD stablecoin.
The rollout is expected to begin with more than $100 million in total value locked, providing immediate liquidity and smoothing early-stage adoption. Authorized merchants will be able to mint and redeem wXRP through an automated, regulated process, with all underlying XRP held in segregated institutional-grade custody.
By removing dependence on third-party bridges, the structure enables XRP exposure across swaps, liquidity pools and collateral use in DeFi protocols. RippleX said the initiative reflects growing institutional demand to access XRP and RLUSD across the broader crypto ecosystem.
Despite the longer-term implications for utility and adoption, the announcement failed to spark an immediate price response, suggesting traders remain focused on broader market positioning and macro-driven flows.
Technical Analysis
XRP remains locked in a consolidation phase, with consistent demand emerging near the $2.00 psychological level and supply capping advances above $2.05. The lack of follow-through beyond resistance, even amid supportive developments, points to ongoing distribution rather than momentum building.
Repeated defenses of the $2.00–$2.02 zone indicate longer-term holders are willing to support price at those levels. However, each push toward $2.04–$2.06 has drawn volume-backed selling, reinforcing the view that larger players are using rallies to rebalance exposure.
Short-term structure stays neutral to bearish while XRP trades below the $2.06–$2.08 supply band. A decisive close above that region would be needed to shift bias toward trend continuation rather than range-bound trading.
Price Action Summary
XRP rose 0.56% to $2.0341 but lagged the broader crypto market by about 1.17%. Trading volume increased 12.34% above weekly averages, pointing to institutional participation despite muted price movement.
The session low formed near $1.985 after a sharp selloff on elevated volume, before buyers stepped in to reclaim the $2.00 level. Price later consolidated between $2.02 and $2.04, with upside capped into the close.
Elevated volume alongside limited price expansion suggests the session was dominated by repositioning rather than fresh directional conviction.
What Traders Should Know
XRP continues to trade within a defined range, with $2.00–$1.985 acting as key demand and $2.05–$2.06 marking near-term supply. Persistent volume without expansion supports the case for ongoing distribution into strength.
While the Hex Trust wXRP launch strengthens XRP’s long-term DeFi and cross-chain narrative, near-term price action remains driven by technical structure and relative market rotation.
Until XRP can reclaim and hold above $2.06, rallies are likely to face selling pressure. A break below $1.985 would expose downside toward the mid-$1.90s, while a confirmed close above resistance could reopen upside toward $2.12–$2.18.
For now, XRP remains a tactical range trade rather than a confirmed breakout candidate.
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