Ripple and Robinhood broaden partnership as XRP recovery stalls

• At $1.33, selling pressure checks XRP’s advance as the forthcoming Fed interest rate decision presents headwinds.
• An expanded partnership between Ripple and Robinhood aims to increase RLSUD stablecoin adoption while bringing prime brokerage and treasury management together.
• The 50-day EMA continues to constrain XRP’s recovery prospects, leaving its technical outlook troubled.

The 50-day EMA continues to constrain XRP’s recovery prospects, leaving its technical outlook troubled.
At around $1.33 on Wednesday, Ripple (XRP) continues to face near-term obstacles. Signs suggest the remittance token’s two-day rebound from the weekly low of $1.27 could be coming to an end.

With markets assigning a 91% probability to interest rates remaining in the 3.75-4.00% range, the Federal Reserve’s (Fed) forthcoming decision dominates this week’s agenda.

Traders will also look beyond the rate announcement to Fed Chair Kevin Warsh’s post-meeting press conference for likely indications of the policy path ahead. A greater likelihood of a December rate increase is already being priced in by economists, potentially putting pressure on risk assets.

In commentary sent by email, Ian Weisberger, Co-founder and CEO of CoinRoutes, said: “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 broadens RLUSD stablecoin adoption through Robinhood

A broader partnership with financial services provider Robinhood was announced by Ripple on Tuesday. The arrangement is intended to offer a single point of access to the company’s infrastructure for stablecoins, institutional markets and treasury management.

Under the collaboration, Ripple USD (RLUSD) serves as the principal stablecoin throughout Robinhood’s digital asset ecosystem for both institutional and retail clients. Already available on Robinhood Chain and Bitstamp by Robinhood, RLUSD is set for wider availability in the Robinhood app before year-end.

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

To integrate Ripple Treasury, Robinhood will use the XRP Ledger (XRPL), with the aim of enhancing and automating global operations such as cash and liquidity management. Ripple Prim also falls within the partnership’s remit, extending existing collaborations and market access.

With RLUSD’s market capitalisation at $2.4 billion, the wider stablecoin supply now totals more than $300 million. Earlier this week, Ripple also said the Office of the Comptroller of Currency (OCC) had given final approval for its National Trust Bank.

Technical analysis: Resistance checks XRP’s recovery

After gaining for two days from close to $1.27, XRP trades around $1.33. The limited rebound has not dispelled the bearish bias: the token remains constrained just beneath the middle Bollinger band near $1.33 and below the 50-day Exponential Moving Average (EMA) at around $1.36.

Although the Moving Average Convergence Divergence (MACD) is edging marginally above zero, the Relative Strength Index (RSI), near 46, points to momentum that is neutral to weak. Price is effectively challenging the established descending resistance line, yet its inability to sustain a move above the middle Bollinger band keeps the wider structure under pressure.

The middle Bollinger band, around $1.33, marks the first resistance level. Beyond it, additional selling pressure is expected near the 50-period EMA at $1.36, before the more substantial obstacle of the upper Bollinger band around $1.41. Should sellers prolong the pullback, the next significant support is the lower Bollinger band, currently close to $1.26, where a more distinct demand zone could develop.

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