XRP surges past $1.40 as Ripple deal sparks fresh investor demand

Ripple (XRP) is the best performer among the top 10 cryptocurrencies by market cap, up nearly 4% in the last 24 hours. 

The rally over the last few hours has allowed XRP to top the $1.40 resistance level.

The positive performance comes as persistent inflows into XRP spot ETFs reflect renewed investor confidence, supporting the remittance token’s current consolidation.

Ripple partners with Kyobo Life Insurance

The primary catalyst behind XRP’s bullish performance is the partnership between Ripple and Kyobo Life Insurance, bringing Korea’s bond settlement on-chain.

According to Ripple, the partnership will enable tokenized government bond transactions within a regulated institutional environment.

The partnership leverages Ripple Custody, the core pillar for holding, transferring, and settling tokenized assets, as the country seeks to replace the fragmented, manual bond settlement process with a trustless on-chain infrastructure.

Ripple noted that its blockchain solutions could serve as a foundational layer for Korea to build broader capabilities across payments, liquidity, and treasury management. 

The new system will shorten bond settlement cycles from the current two-day timeline to near-real-time execution.

As a result, the new process could reduce counterparty risk and improve efficiency.

In addition to this, XRP is also experiencing renewed institutional interest as US-listed spot Exchange-Traded Funds (ETFs) attract inflows.

CoinGlass ETF data show that XRP spot ETFs attracted roughly $17.6 million in inflows on Wednesday, up from the $11.20 million recorded the previous day, and $1.46 million on Monday.

Thanks to this latest data, cumulative inflows now stand at $1.25 billion, with net assets under management averaging $992 million.

If the risk-on sentiment holds and continues to draw investor interest, XRP could gain momentum, driving the price towards the $1.50 psychological level.

Technical outlook: XRP eyes further gains

The XRP/USD 4-hour chart remains bearish as XRP is hovering above the $1.40 resistance level. 

However, it is still trading below the 100-day and 200-day Exponential Moving Averages (EMAs).

The momentum indicators suggest that the bulls are now regaining control of the market. 

The Relative Strength Index (RSI) hovers at 68 on the 4-hour chart, and the Moving Average Convergence Divergence (MACD) indicator is marginally positive, hinting at a potential rally rather than a mild stabilization in momentum. 

If the bullish trend persists and the daily candle closes above the 50-day EMA at $1.40, it could pave the way for further upward movement. 

A sustained break above this confluence would allow XRP to rally towards the 4-hour Fibonacci retracement at $1.46 and then the 100-day EMA near $1.55. 

The next major resistance will be the 200-day EMA at $1.80, marking a distant hurdle for any larger recovery attempt. 

However, if the market undergoes a correction and the bears regain control, initial support would be encountered at the 38.2% Fibonacci retracement near $1.33, ahead of the trendline support area around $1.30.