Wrapped XRP (wXRP) is set to trade across Solana, Ethereum and several other blockchains, enabling XRP exposure within DeFi ecosystems without relying on unregulated third-party bridges.

Hex Trust said it will issue and custody wXRP, a 1:1-backed tokenized version of native XRP designed to extend XRP’s DeFi and cross-chain functionality beyond the XRP Ledger. The wrapped asset will trade alongside Ripple’s RLUSD stablecoin on Ethereum and additional supported networks, including Solana, Optimism and HyperEVM.

The launch is expected to debut with more than $100 million in total value locked, providing immediate liquidity and minimizing early-stage adoption friction. Authorized merchants will be able to mint and redeem wXRP through a regulated, automated framework, with all underlying XRP held in segregated institutional custody.

This structure enables XRP usage across DeFi applications such as swaps, liquidity provisioning and collateralized lending, while avoiding dependence on unregulated bridge infrastructure. RippleX said the initiative reflects rising institutional demand to deploy XRP and RLUSD across the broader crypto ecosystem.

Despite the long-term utility implications, the announcement failed to spark immediate upside momentum, suggesting the market remains focused on broader positioning dynamics and macro-driven flows.

Technical Analysis

XRP continues to trade within a consolidation range, with price action defined by steady buying interest near the $2.00 psychological level and persistent supply above $2.05. The inability to push beyond resistance despite supportive fundamentals points to ongoing distribution rather than momentum accumulation.

Repeated tests of the $2.00–$2.02 zone have attracted buyers, indicating longer-term holders are comfortable defending that area. However, each rally toward $2.04–$2.06 has been met with volume-backed selling, reinforcing the view that larger participants are using strength to rebalance exposure.

Near-term structure remains neutral to bearish while price holds below the $2.06–$2.08 supply band. A decisive close above that region would be needed to shift bias toward trend continuation rather than range trading.

Price Action Summary

XRP edged 0.56% higher to $2.0341 but underperformed the broader crypto market by roughly 1.17%. Trading volume rose 12.34% above weekly averages, signaling institutional participation despite limited net price movement.

The session low formed near $1.985 following a sharp sell wave on elevated volume, before buyers stepped in to reclaim $2.00. Price later stabilized between $2.02 and $2.04, with upside attempts capped into the close.

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

What Traders Should Know

XRP remains range-bound, with $2.00–$1.985 acting as the primary demand zone and $2.05–$2.06 defining near-term supply. Elevated volume without expansion suggests continued distribution into strength rather than accumulation.

While the Hex Trust wXRP launch materially strengthens XRP’s long-term DeFi and cross-chain narrative, near-term price behavior continues to be governed by technical structure and relative market rotation.

Until XRP can reclaim and sustain levels above $2.06, rallies are likely to encounter selling pressure. A break below $1.985 would expose downside toward the mid-$1.90s, while a confirmed close above resistance could reopen upside toward the $2.12–$2.18 range.

For now, XRP remains a tactical range trade rather than a confirmed breakout candidate.