XRP is consolidating near USD 1.38 after failing to clear its descending channel, while Mastercard is expanding its role around the XRP Ledger ecosystem. The token remains below the USD 1.47-USD 1.50 breakout zone after a 3.1% daily decline. Meanwhile, Mastercard has joined the upcoming XRP Ledger Hackathon as a sponsor and continues exploring RLUSD-based settlement.
XRP reached the channel ceiling near USD 1.47 but turned lower before confirming a breakout. As a result, the token never reached the retest stage, while the previous USD 1.55 pivot remained untouched.
At the time of writing, XRP trades near USD 1.38 after the latest rejection. Price has paused around the middle of the descending channel, where buyers have absorbed further selling attempts. Recent candles show small bodies and alternate between red and green. Buyers have limited deeper losses, yet rebounds remain shallow since neither side has produced enough follow-through.
The lower channel boundary near USD 1.34 remains relevant if consolidation breaks down. Still, XRP has room before reaching that trendline, so an immediate support test remains premature. A confirmed invalidation requires a completed candle below the lower trendline and a weak recovery attempt. Current sideways trading does not meet that condition.
The 14-period Relative Strength Index stands near 41, below the neutral 50 level and its smoothed average of 47.8. Even so, the latest candles show that downside momentum has stopped accelerating.
Oversold territory begins near 30 under the conventional RSI reading. XRP has not reached that level, while a move above 47.81 would signal improving short-term momentum. CoinGlass reports about USD 990.60 million in XRP spot volume and USD 4.35 billion in futures turnover. Therefore, derivatives activity is roughly 4.39 times larger than spot trading.
That ratio has eased from the previous 4.6 reading, although derivatives still account for most reported activity. Open interest also fell to about USD 3.23 billion from roughly USD 3.5 billion.
CoinGlass recorded about USD 13.21 million in XRP liquidations over 24 hours. Meanwhile, CryptoQuant places tracked exchange reserves near 2.6274 billion XRP, up only 0.03% over 24 hours. Can XRP reclaim the USD 1.47-USD 1.50 zone while derivatives continue to dominate trading activity?
Read More: XRP Whale Withdrawals Surge as Mastercard Backs XRPL Hackathon
Mastercard has joined the XRP Ledger Hackathon in New York as a sponsor, according to XRPL Commons. The 36-hour event is scheduled for Oct. 24-25 before Ripple's Swell conference.
The hackathon will focus on protocol development, agentic finance and lending. Mastercard's participation follows earlier work involving regulated stablecoins and settlement infrastructure connected with the XRP Ledger.
In June, Mastercard said it would broaden settlement capabilities to regulated stablecoins, including Ripple USD, or RLUSD. Those plans cover several networks, including the XRP Ledger.
Ripple and Mastercard had also announced an initiative with WebBank and Gemini. The companies are exploring RLUSD-based settlement for card transactions on the XRP Ledger. That project remains exploratory and does not represent a confirmed commercial rollout. At the same time, XRP remains below the breakout zone that traders continue to watch.
XRP remains confined inside its descending channel after failing near USD 1.47, while derivatives still outweigh spot activity and open interest has eased. At the same time, Mastercard is extending its XRP Ledger involvement through the October hackathon and continued RLUSD settlement exploration. The next technical focus remains USD 1.47-USD 1.50.