Ripple News: XRP Price Climbs 1.4% As Hex Trust Brings Wrapped XRP To Solana, Ethereum

The XRP price has surged 1.4% in the past 24 hours to trade at $2.03 as of 3:40 a.m. EST on trading volume that slumped 28% to $2.9 billion.

The rise in the Ripple token price comes as Hex Trust announced the launch of Wrapped XRP (wXRP), which allows XRP to move across multiple blockchains while staying fully backed by the original XRP.

wXRP can be used in DeFi apps on Ethereum, Solana, Optimism, and HyperEVM, unlocking its utility across multiple blockchains.

Hex Trust and LayerZero Core will issue wXRP on Solana, with over $100 million in total value locked at launch for immediate liquidity.

Tokens are created only when the same amount of XRP is deposited and are burned when redeemed, keeping a 1:1 backing.

wXRP can also be traded with Ripple’s stablecoin RLUSD on Ethereum and other networks.

The token follows strict regulations, with XRP held in secure, regulated custody accounts. Ripple’s CTO, David Schwartz, said this move increases XRP’s utility while the XRP Ledger stays the main anchor.

The wider access to DeFi, cross-chain use, and regulated custody have boosted market confidence, helping drive the increase in the XRP price.

XRP Price Tests Lower Channel Support As Bulls Eye Potential Reversal

The XRP price is still moving inside a clear bearish channel on the daily chart, with price making lower highs and lower lows since July.

The trend is still down, but XRP is now trading near the lower side of this channel, which is an area where reversals often begin. The price is trading at $2.03, showing small signs of stabilization after weeks of weakness.

XRP remains below both the 50-day SMA at $2.25 and the 200-day SMA at $2.60. This setup keeps the market in a bearish position.

The earlier “death cross,” where the 50-day SMA crossed below the 200-day SMA, confirmed stronger selling pressure.

However, the price is now squeezed between support and the lower trendline, which often indicates that the current trend may be losing strength.

XRPUSDT Chart Analysis. Source: Tradingview

A key resistance zone sits around $2.90–$3.00. This level matches the upper edge of the bearish channel. If XRP breaks above this zone, it would signal a potential trend reversal and could push price higher toward the $3.60 region. Until then, sellers remain in control.

XRP Technicals Near Oversold Levels as Buyers Defend Key Support

The RSI is around 42, showing weak momentum but also suggesting the market is close to oversold territory. This means selling could be cooling down. The MACD is slightly negative but flattening out, another sign that downward momentum is slowly fading.

If buyers hold the current support and XRP continues to test the downtrend line, a breakout attempt may happen soon. For a strong bullish signal, XRP must break above the channel and reclaim the 50-day SMA. If that happens, momentum could shift upward.

But if the price breaks below the lower boundary of the channel, XRP may fall further toward the previous consolidation zone near $1.60–$1.70.