XRP is stuck at $1.40 even after Ripple announced three institutional partnerships, underscoring that network-expansion headlines are not translating into token demand and leaving traders focused on whether the coin can defend nearby support.
XRP Holds $1.40 After Ripple Partnerships
The token’s inability to follow the news lower or higher matters because XRP’s price has now become a referendum on real demand, not on ecosystem ambitions. Ripple said it is working with Meritz Securities on tokenization and custody in South Korea, Paxos has added XRP to its institutional brokerage and custody offerings, and Ripple Custody will support assets on the Canton Network. But only the Paxos arrangement clearly broadens access to XRP itself, which helps explain why the market has treated the announcements as incremental rather than catalytic.
That disconnect has been reinforced by the tape. XRP slid from above $1.50 to $1.40 between Oct. 6 and Oct. 8, with roughly $14.24 million in long liquidations during the sell-off and Binance accounting for about 46% of the wipeout. On the latest data, XRP was still trading around $1.40 with the $1.40-$1.42 zone acting as immediate support and the $1.47-$1.50 band as resistance.
Technical readings suggest the market remains fragile. XRP is trading below its 50-day moving average, and the 200-day moving average sits near $1.28-$1.30, a deeper support area that would likely come into view if the current floor gives way. The relative strength index has also weakened sharply, pointing to a market that is still digesting the earlier flush rather than confirming a clean reversal.
For investors, the key question is whether upcoming catalysts can do what the current deals did not. Attention is now shifting to ledger upgrades, possible ETF-related flows and delayed projects such as the Evernorth treasury merger and its planned Nasdaq debut under the XRPN ticker. Until then, XRP remains a level-driven trade, with the next move likely to be decided by whether buyers can reclaim $1.50 instead of by another headline about Ripple’s expanding ecosystem.
| Entity | Gains | Losses |
|---|---|---|
| Ripple | ▲Wider institutional footprint | ▼Little immediate XRP demand boost |
| XRP buyers | ▲Possible rebound if $1.50 breaks | ▼Support at $1.40-$1.42 |
| Short sellers | ▲Benefit from failed breakout | ▼Risk if ETF or listings draw flows |
| Paxos/Meritz/Canton partners | ▲More crypto infrastructure business | ▼Exposure to weak XRP sentiment |
