XRP traded near $1.28 on the Oct. 24 Binance daily chart as sellers pushed the token toward a key support zone. The token opened near $1.294 and dropped as low as $1.272, leaving it down about 1.1% when the chart was captured.

The broader picture remains weak. XRP has broken below the rising trendline that supported its August-to-September recovery, and the price has fallen from nearly $1.60 to sit just above the $1.251 support level.

Analyst Ash Crypto addressed the setup in an Oct. 23 post on X, writing that XRP “has been stuck below this resistance for months” and that once it breaks, “$2 will be easy.”

$XRP has been stuck below this resistance for months. Once it breaks, $2 will be easy. pic.twitter.com/4QIH8PSeW1
— Ash Crypto (@AshCrypto) October 23, 2026

Chart analysis

The $1.25–$1.28 zone served as resistance earlier in the year before flipping into demand, meaning buyers have stepped in at these levels before. Momentum indicators still describe sellers in control of the short term. The daily relative strength index (RSI), a momentum gauge, sits at 37.38 — close to oversold territory but still above the 30 threshold — while the MACD line near -0.0357, a trend-following measure, remains below its signal line.

According to the chart setup, if $1.251 holds, a bounce toward $1.35–$1.40 is. A daily close below that level would put $1.20 in play, followed by the $1.10–$1.15 area. The $1.251 daily close is the next marker to watch; daily closes are the reference many traders use to confirm whether a level has held, since intraday moves can reverse before a session ends.

On the upside, XRP needs to reclaim the $1.35–$1.40 range before the short-term picture improves. Above that, $1.50 and the $1.55–$1.67 resistance zone come into view.

ETF flows

U.S. spot XRP exchange-traded funds, which hold the underlying token directly, recorded about $3.55 million in net inflows on Oct. 23, with Franklin Templeton’s XRPZ accounting for the day’s increase. Total assets across the products stood near $1.49 billion. Because spot ETFs buy the token outright, net inflows translate into net purchases of XRP, which is why daily flow data is tracked as a barometer of institutional demand; the products also let traditional investors gain exposure through standard brokerage accounts.

JUST IN: Franklin ETF clients buy $3.55 million worth of $XRP . pic.twitter.com/qXhXcQKMyw
— Whale Insider (@WhaleInsider) October 23, 2026

The single-day gain followed a weak stretch. The prior week ended a 13-week run of positive flows, with roughly $2 million leaving the funds, while cumulative inflows since launch remain around $1.8 billion.

Ripple’s institutional focus

Ripple continues to prioritize institutional markets. Recent announcements include access to real-world asset perpetual swaps, partnerships with DriveWealth and Korea’s Meritz Securities, and custody services from Standard Chartered for RLUSD, Ripple’s U.S. dollar-backed stablecoin. Taken together, they underscore how the company most closely associated with XRP is building products aimed at regulated, institutional finance.

Ledger upgrades

The XRP Ledger, the blockchain network underlying XRP, is preparing lending infrastructure. Version 3.4.0 introduced LendingProtocolV1_1, which adds closed-ended vaults and cash-basis accounting, though the wider lending upgrade still needs enough validator support before it can activate. Under the ledger’s amendment process, protocol changes go live only after a supermajority of validators back them, leaving pending features dormant until that threshold is reached.

A separate package of ledger fixes was pushed into November after validator support fell below the required level. The delay is a timing issue rather than a network failure.

Ledger activity

The XRP Ledger processed about 3.6 million transactions in the last 24 hours, with roughly 43,400 active addresses and more than 5,000 new addresses. Decentralized finance total value locked stands near $38.8 million, and daily decentralized exchange volume is around $6.25 million.

Liquidity has weakened, however. Stablecoin supply on the ledger fell about 5.6% over seven days to $1.06 billion — a figure tracked because stablecoins represent dollar-pegged liquidity available on the network — and weekly DEX volume also declined.

Exchange balances point in the other direction: tracked exchange wallets lost about 16.5 million XRP over the seven days to Oct. 23, meaning coins have not rushed onto exchanges for sale.

XRP trades near $1.28, just above the $1.251 support level, after U.S. spot XRP ETFs posted $3.55 million in inflows on Oct. 23.