XRP News Today: XRP Faces $2.10 Support Test Amid Institutional Interest

XRP, the fourth-largest cryptocurrency by market capitalization, is currently facing significant challenges as it struggles to maintain its critical support zone of $2.10. Market analyst Bit Guru has noted that XRP has been repeatedly testing this support level, forming a potential descending structure with lower highs. This indicates that bears are gaining momentum, and a breakdown below $2.10 seems imminent if bulls fail to reclaim higher ground quickly.

Despite reaching a high of $2.20, XRP remains vulnerable to a pullback below $2.10, which could trigger a rapid decline toward the psychological price of $2.00. This uncertainty in the market is causing concern among investors, who are closely monitoring the situation to determine the next move for XRP.

Despite the market volatility, XRP is gaining significant attention in corporate treasury discussions. Its capability to transform liquidity management and cross-border payments has made it an attractive option for companies looking to optimize their financial operations. For instance, Webus International, a Chinese AI mobility firm, recently announced a $300 million XRP reserve to support real-time global payments. This decision is driven by the firm's commitment to lowering cross-border costs and enhancing operational efficiency.

Similarly, energy giant VivoPower has inked a $121 million deal with BitGo to develop an XRP-focused treasury strategy. This move aims to enhance VivoPower's operational potential in the digital asset sector, further highlighting the growing institutional interest in XRP. With the approval rate for an XRP exchange-traded fund (ETF) on the rise, there is a growing sense of optimism that this could be the catalyst that propels XRP to new heights.

However, the market's current volatility and the potential for a breakdown below $2.10 pose significant risks for XRP. Investors and analysts are closely monitoring the situation, and the outcome will depend on whether bulls can regain control and push the price higher. The growing institutional interest and the potential for an ETF approval provide some optimism, but the immediate challenge for XRP is to maintain its support level and avoid a further decline.