XRP Drops to $1.10 as Ripple Expands Stablecoin and AI Tools

Ripple has been busy building out its ecosystem with several key updates. The company launched Ripple Mint on July 23rd to give institutional clients a direct portal for managing the RLUSD stablecoin. Businesses can now mint, redeem, and bridge stablecoins using automated APIs for treasury management and trading operations.

Alongside the stablecoin rollout, Ripple made a strategic investment in compliance provider Notabene to integrate RLUSD into global payment networks. At the same time, the XRP Ledger hit a major milestone by passing 1.4 million transactions initiated by automated AI agents. Binance also stepped in with new incentives, offering rewards in XRP for users holding or trading RLUSD on its platform.

Despite the steady stream of product updates, the price of XRP pulled back to around $1.10 after touching $1.16 earlier in the week. The token is currently trading inside a descending channel, putting the focus on crucial chart levels. Traders are watching the $1.18 mark as immediate resistance, while buyers need to defend the $1.02 to $1.04 demand zone to prevent a drop below $1.