XRP Expands Ecosystem with Launch on Solana and Ethereum

Hex Trust announced it will issue and custody wrapped XRP, or wXRP, a 1:1-backed representation of native XRP, designed to expand XRP's DeFi and cross-chain utility beyond the XRP Ledger. The wrapped asset will be tradable alongside RLUSD on Ethereum and additional supported chains, including Solana, Optimism, and HyperEVM. wXRP will launch with more than $100 million in total value locked, providing immediate liquidity and reducing early-stage friction.

Authorized merchants will be able to mint and redeem wXRP in a regulated, automated environment, with all underlying XRP held in segregated institutional custody. This structure allows XRP exposure across DeFi applications such as swaps, liquidity provisioning, and collateral use without reliance on unregulated third-party bridges.

RippleX confirmed that the initiative aligns with growing institutional demand to use XRP and RLUSD across the wider crypto ecosystem. However, the announcement did not immediately translate into upside momentum for XRP, suggesting that the market is still digesting broader positioning and macro flows.

On the technical side, XRP remains in a consolidation regime with market structure defined by defensive buying near the $2.00 psychological zone and consistent supply emerging above $2.05. Despite supportive fundamentals, XRP's failure to extend beyond resistance points to active distribution rather than momentum accumulation.

Repeated tests of the $2.00 to $2.02 area indicate that longer-term holders are comfortable defending this zone. Conversely, each rally attempt toward $2.04 to $2.06 has met with volume-backed selling, reinforcing the notion that large players are using strength to rebalance exposure.

Short-term structure remains neutral-to-bearish while the price trades below the $2.06 to $2.08 supply band. A decisive close above that region would be required to shift bias toward trend continuation rather than range maintenance.

In terms of price action, XRP edged 0.56% higher to $2.0341 but underperformed the broader crypto market by approximately 1.17%. Trading volume rose by 12.34% above weekly averages, indicating institutional participation despite muted net price movement.

The session low printed near $1.985 following a sharp sell wave accompanied by elevated volume, but buyers stepped in to reclaim the $2.00 level. Price later stabilized between $2.02 and $2.04, with momentum fading into the close as resistance capped upside attempts.

The combination of higher volume and limited follow-through reinforces the view that the session reflected repositioning rather than fresh directional conviction.