XRP recovery stalls as Ripple and Robinhood expand partnership scope

• XRP rises but encounters supply at $1.33, facing headwinds ahead of the upcoming Fed interest rate decision.
• Ripple expands partnership with Robinhood to boost RLSUD stablecoin adoption and bring together prime brokerage and treasury management.
• Technically, XRP is still in the woods, with the 50-day EMA limiting the token’s recovery potential.

Technically, XRP is still in the woods, with the 50-day EMA limiting the token’s recovery potential.
Ripple (XRP) faces short-term hurdles, trading around $1.33 on Wednesday. The remittance token signals a potential break of its two-day recovery streak, from the weekly low of $1.27.

The Federal Reserve’s (Fed) upcoming interest rate decision remains the primary focus this week. Market participants are pricing in 91% odds that the central bank will keep interest rates unchanged in the 3.75-4.00% range.

Beyond the interest rate decision, traders await Fed Chair Kevin Warsh’s post-meeting press conference, where they will likely get insights into the future policy direction. Economists are already pricing a higher probability of a December rate hike, which could weigh on risk assets.

The Co-founder and CEO of CoinRoutes, Ian Weisberger, said in an emailed commentary that “This is a nervy week for crypto. Traders face a Fed rate decision, results from the biggest tech companies in the world, and around $12 billion worth of Bitcoin bets expiring on Friday. Then the US midterms land next Tuesday.”

Ripple RLUSD stablecoin adoption on Robinhood

Ripple announced on Tuesday that it is expanding its partnership with Robinhood, a financial services provider, to provide a single entry point for the company’s infrastructure covering stablecoins, institutional markets and treasury management.

The collaboration features Ripple USD (RLUSD) as the primary stablecoin across Robinhood’s digital asset ecosystem, serving both retail and institutional customers. RLUSD is currently live on Robinhood Chain and Bitstamp by Robinhood amid plans to expand its availability in the Robinhood app before year-end.

“Robinhood will leverage RLUSD on the XRPL for institutional settlement, extending the stablecoin’s utility across Bitstamp by Robinhood’s growing institutional business,” Ripple’s press release said.

Robinhood will tap the XRP Ledger (XRPL) to integrate Ripple Treasury, aiming to advance and automate its global operations, including cash and liquidity management. The partnership’s scope includes Ripple Prim, building on existing collaborations and market access.

The larger stablecoin supply currently exceeds $300 million in total, with RLUSD standing at $2.4 billion in market capitalization. Ripple also announced earlier this week that the Office of the Comptroller of Currency (OCC) granted final approval for its National Trust Bank.

Technical analysis: XRP runs into resistance as recovery stalls

XRP is trading near $1.33 following a two-day advance from near $1.27. Despite the modest recovery, the token remains bearish and capped, sitting just under the Bollinger Bands’ middle line near $1.33 and below the 50-day Exponential Moving Average (EMA) around $1.36.

Price is effectively testing the established descending resistance line, but the failure to hold above the mid-Bollinger band leaves the broader structure under pressure, even as the Moving Average Convergence Divergence (MACD) edges into slightly positive territory and the Relative Strength Index (RSI) near 46 suggests only neutral-to-soft momentum.

Immediate resistance lies at the Bollinger mid-line around $1.33, with further supply expected at the 50-period EMA near $1.36, ahead of a stronger barrier at the upper Bollinger band around $1.41. On the downside, the next notable support emerges at the lower Bollinger band, currently near $1.26, where a clearer demand zone could appear if sellers extend the pullback.

(The technical analysis of this story was written with the help of an AI tool. Know more.)