• XRP claims $3.00 support, breaks above a short-term descending channel as cryptocurrencies broadly recover.
• Ripple acquires Rail for $200 million to drive innovation and adoption of stablecoins and blockchain in global payments.
• Interest in XRP remains largely suppressed with the futures Open Interest down 34% from July peak.

Ripple (XRP) price surges to an intraday high of $3.08 and corrects to trade at around $3.05 on Thursday. The uptick in XRP upholds a short-term bullish picture, mirroring positive sentiment in the broader cryptocurrency market. 

A report by a White House official has boosted interest in digital assets, saying that United States (US) President Donald Trump will sign an executive order on Thursday, allowing the inclusion of alternative assets such as crypto, private equity and real estate in US 401(k) retirement accounts. Supporters of the move argue that this would legitimize the crypto industry while critics say that it could put US 401(k)s at risk.

Ripple advances stablecoin infrastructure

Ripple has announced the acquisition of Rail, a stablecoin-powered platform tailored for payments, for $200 million. The company described the move as a major milestone in advancing stablecoin payment solutions, aligning with its broader goal of building a digital asset payments infrastructure.

Rail will integrate with Ripple Payments, a platform that boasts an expansive payments network with market-leading liquidity and over 60 global licenses. Rail will ensure that Ripple Payments advances customers' capital flows with virtual accounts supported by an automated back-office infrastructure.

"Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments," Ripple President Monica Long said.

The integration of Ripple Payments and Rail will support a range of services, including stablecoin on/off-ramp, asset flexibility, treasury payments, premium digital asset liquidity, virtual accounts, collections, and enterprise-grade, compliant-ready payments, Ripple said in a statement.

The advancement of Ripple Payments to support enterprise-grade and regulatory compliant flows and liquidity could boost demand for XRP and the RLUSD stablecoin, especially now that the US is clearing key hurdles to support innovation in the crypto industry. 

Interest in XRP remains relatively subdued, considering the futures Open Interest (OI) has declined by more than 34% to average at $7.23 billion from its July peak of $10.94 billion. 

Since OI refers to the notional value of outstanding futures or options contracts, a steady increase often boosts speculative demand as more traders leverage long positions.

XRP Futures Open Interest data | Source: CoinGlass

Technical outlook: XRP upholds bullish structure

XRP price has broken above a descending channel on the 4-hour chart, extending the rebound from support tested at $2.72 on Sunday. The cross-border money remittance token also holds above key technical levels, including the 100-period Exponential Moving Average (EMA) at $3.03, the 50-period EMA at $3.01 and the 200-period EMA at $2.93, underscoring the short-term bullish structure.

Investors may consider increasing exposure, citing a buy signal from the Moving Average Convergence Divergence (MACD) indicator. If the blue MACD line remains above the red signal line, XRP could extend the recovery, aiming for the short-term hurdle at $3.10, which was tested on Tuesday, and the seller congestion at $3.32, tested on July 28.

XRP/USDT 4-hour chart

If sentiment shifts in the broader cryptocurrency market, recovery could be suppressed and even result in XRP price slipping below support at $3.00. Key levels of interest for traders are the 200-period EMA at $2.93 and the support at $2.72, tested on Sunday.