XRP rose 3.45% to $1.10 during Wednesday's session, pushing past the $1.10 mark as renewed strength across crypto markets combined with rising stablecoin operations on the XRP Ledger. The move came as the supply of RLUSD — the Ripple-backed stablecoin — has gradually migrated to XRPL, lifting expectations for higher network usage and transaction demand.
What drove the move
The price increase followed a broader uptick in crypto markets, but XRP's gain was notably tied to on-chain activity. According to a report from CoinGape, the gradual shift of RLUSD supply onto the XRP Ledger is contributing to increased transaction volume. More stablecoin activity typically means more demand for XRP as a bridge asset and for network fees.
RLUSD migration picks up
RLUSD, which launched last year, has been expanding its presence across multiple blockchains. The migration to XRPL is part of a strategy to deepen liquidity on Ripple's native network. While the exact amount of RLUSD now on XRPL wasn't disclosed, the trend has been visible in on-chain data over recent weeks. Traders appear to be pricing in higher future usage.
Market context
The $1.10 level is a psychological round number that XRP has tested several times this year. Wednesday's close above it marks the first time the token has held that level since early June. The broader crypto market has been grinding higher this week, with Bitcoin and Ethereum also posting gains, though XRP's percentage move outpaced both.
All eyes are on whether XRP can sustain above $1.10 in the coming sessions. The RLUSD migration is still ongoing, and any acceleration could provide further support. No major regulatory or exchange announcements were tied to Wednesday's move — it was a market-driven rally built on network fundamentals.
