#GateSquareMidAutumnCreatorIncentive

#XrpEtfGoesLive
The price of XRP is ready to break the $3 barrier as Ripple expands its adoption of institutional RLUSD.

- The rebound of XRP from the 100-day exponential moving average could pave the way for gains above $3.00.
- Ripple is partnering with Securitize, allowing BUIDL holders from BlackRock and VanEck to exchange shares for the RLUSD stablecoin.
- This collaboration lays the foundation for Securitize's integration with the XRP Ledger, enabling the expansion of facilities within the XRPL ecosystem.
The price of Ripple (XRP) rose above $2.88 on Wednesday, reflecting a bullish wave in the broader cryptocurrency market, which also saw Bitcoin (BTC) rise above the $113,000 level. The cross-border financial transaction token maintains a key short-term support level at $2.83, increasing the chances of its recovery continuing above the critical $3.00 level.

- Merging Ripple and Securitize BUIDL from BlackRock with VBILL from VanEck and RLUSD
Ripple has announced a strategic partnership with the Securitize platform, which is a cryptocurrency tokenization platform, aimed at developing a smart contract that allows holders of the BUIDL fund from BlackRock and the VBill fund from VanEck to seamlessly exchange their shares for the RLUSD stablecoin. This smart contract expands the use of RLUSD as an additional exit option for BUIDL and VBill.

BUIDL is an abbreviation for the institutional digital liquidity fund in US dollars belonging to BlackRock, while VBILL is the token treasury fund belonging to VanEck. Both funds are issued on public blockchains.

Integration is expected to provide BUIDL and VBILL holders exposure to RLUSD, without sacrificing on-chain yield and a broader range of decentralized finance strategies (DeFi); thus ensuring the expansion of utilities, flexibility, and interoperability.

Jack McDonald, Senior Vice President of Stablecoins at Ripple, stated: "Making RLUSD available as a distinctive money exchange option is the natural next step in our ongoing effort to bridge traditional finance with cryptocurrencies."

In addition, Securitize is expected to integrate its infrastructure with the XRP Ledger (XRPL) to enhance utility in the XRPL ecosystem.

Carlos Domingo, co-founder and CEO of Securitize, said: "The partnership with Ripple to integrate RLUSD into our token infrastructure is a big step forward in automating the liquidity of tokenized assets."

At the same time, retail interest in XRP has decreased over the past few days, with open interest in futures (OI) dropping to $7.50 billion from $8.79 billion on Friday.

The decline in OI, which represents the nominal value of open futures contracts, indicates uncertainty about XRP's ability to maintain a short-term upward trend. If retail demand remains weak in the coming days, bulls may find it difficult to sustain this upward trend, targeting levels above $3.00.

XRP Open Futures Contracts | Source: CoinGlass

- Technical Forecast: XRP is heading towards breaking the $3.00 level:
XRP continues its recovery towards the $3.00 level after bouncing off the support level provided by the (EMA) for the 100-day moving average at $2.83. The relative strength index (RSI), which has risen to 44, supports the bullish structure of XRP in the short term.

The main areas of interest for traders include the 50-day exponential moving average, which represents a near-term resistance level at $2.94, and a downward trend line that has been in place since XRP reached a new all-time high of $3.66 on July 18. Trading above this line may enhance the possibility of XRP recovering towards the next major hurdle, marked in red on the daily chart, at around $3.38.

The daily chart for the XRP/USDT pair

However, traders should temper their bullish expectations, considering that the Moving Average Convergence Divergence (MACD) has maintained a sell signal since Monday.

If we assume that the blue MACD line remains below the red signal line; this would indicate a continuation of risk sentiment, which could lead to declines below the 100-day exponential moving average support at $2.83, potentially leading to a drop towards the 200-day exponential moving average at $2.59.