XRP Price Prediction: XRP volume doubles after Ripple Prime debuts in the US, is institutional demand about to explode?

As the market is experiencing widespread dumping, Ripple defies the trend by announcing the launch of a new encryption exchange, Ripple Prime, aimed at institutional clients in the United States, providing new impetus for its optimistic XRP price predictions. The platform is the result of the acquisition of Hidden Road and is designed to facilitate OTC Trading (OTC). Following this news, XRP's volume surged nearly 100%, reaching nearly $8 billion, with institutional demand expected to explode.

Ripple Prime Launch: A New Gateway for Institutional Trading in the US

Ripple announced the launch of Ripple Prime, aimed at meeting the demand for encryption asset OTC Trading from U.S. institutional clients, marking an important strategic advancement for Ripple in the compliant institutional finance sector.

• Strategic integration: Ripple Prime has been achieved through the acquisition of Hidden Road and the integration of both parties' licenses, enabling it to provide regulatory-compliant OTC trading services for U.S. institutions.
• Background Event: At the same time this announcement was made, Ripple's native stablecoin Ripple USD (RLUSD) reached a market capitalization of over 1 billion USD, showcasing the continuous expansion of the Ripple ecosystem and its strong financial infrastructure development capabilities.
• Market significance: This move not only solidifies Ripple's image as a compliant and forward-looking fintech company but may also bring substantial institutional liquidity and demand for XRP.

XRP Price and Volume Fluctuations: $2.20 is the Last Defense Line for Bulls

XRP price fell amid market dumping, but the surge in volume highlights the attention and capital flow brought by the new announcement.

• Price and volume: XRP has dropped 5% to $2.27 in the last 24 hours, but the volume nearly doubled to nearly $8 billion, equivalent to 6% of its circulating supply.
• Key support level: Currently, XRP is approaching its last line of defense at $2.20. The market will decide at this level whether to further enter a bear market or if buyers will step in, betting that Ripple's ecosystem rise plans will drive prices up.
• Technical rebound signal: On the 4-hour chart, the relative strength index ( RSI ) of XRP is approaching the oversold area, which increases the probability of a rebound from the $2.20 level.
• Short-term goal: If XRP can successfully rebound at the current level, there will be significant upside potential in the short term, with the possibility of reaching 3 dollars, indicating an increase potential of nearly 36%.

Conclusion

The launch of Ripple Prime in the U.S. spot trading market is a key step for Ripple to enhance its institutional influence. The explosive rise in XRP volume indicates the market's optimistic expectations for its institutional adoption prospects. The current support level of $2.20 will be crucial for the short-term trend, and whether the bulls can hold the line will determine if XRP can achieve a strong rebound before the end of the year.