XRP has jumped above $2.30 as excitement grows ahead of the XRPFi launch, a new decentralized finance platform set to expand the token’s utility.
XRPFi, built by Flare Networks, will go live on Apr. 29. It will introduce smart contract functionality to XRP (XRP), finally enabling holders to stake, lend, borrow, and trade within the Flare ecosystem. For years, XRP users were mostly limited to holding or trading their tokens, as XRP’s native ledger doesn’t support smart contracts. This kept XRP mostly out of the booming DeFi space.
Flare’s solution uses a wrapped version called FXRP, which lets XRP connect with decentralized applications. This means XRP holders can earn rewards, find new ways to grow their holdings and access a wider range of financial services, all without handing over their tokens to third parties.
XRPFi will leverage Flare’s decentralized oracles to get real-time price data and power permissionless liquid staking, lending, and trading through projects like Doppler Finance, Strobe Protocol, and Anodos Finance. It also taps into Flare’s FAssets system, offering a trust-minimized bridge for non-smart contract assets without relying on centralized middlemen.
Adding more fuel to the rally, ProShares announced it will roll out three XRP futures exchange-traded funds on Apr. 30. These new products, including Ultra XRP, Short XRP, and Ultra Short XRP, will give investors leveraged and inverse ways to bet on XRP’s price moves. This follows a quiet green light from the U.S. Securities and Exchange Commission.
Looking at the charts, XRP remains strong, but traders should stay alert. The relative strength index sits at around 62, meaning XRP isn’t overbought yet, but it’s getting close. If buyers stay active, the next resistance level to watch is near $2.40. A clean breakout above that could send XRP up toward $2.55 and possibly higher.
On the flip side, there’s support around $2.20, with stronger support near $2.08. XRP may revert to the $2.00 region if it falls below these levels. Short-term moving averages and the moving average convergence/divergence continue to point upward for the time being, indicating that bulls are still in charge.
