Key Insights
Ripple plans to acquire BC Payments Australia to obtain an AFSL license, strengthening its regulatory presence and payments infrastructure
XRP trades near $1.38 while facing resistance at $1.40 as traders assess macro risk and monitor momentum indicators for direction.
XRP derivatives activity increased sharply as trading volume rose 17% and open interest climbed, signaling growing market participation.
XRP slipped 2.47% to $1.38 on Wednesday as the broader crypto market turned cautious ahead of key inflation data in the United States. Market participants reduced exposure to risk assets, which placed moderate pressure on several major digital tokens.
However, attention shifted toward a strategic development involving Ripple’s regulatory expansion in Australia. The payments company confirmed plans to acquire BC Payments Australia as it works to strengthen its licensed operations in the region.
Ripple intends to secure an Australian Financial Services License through the acquisition of BC Payments Australia. The deal is scheduled to close on April 1 once standard regulatory and contractual conditions are completed.
Consequently, the license will allow Ripple to directly manage several financial operations inside the country. These responsibilities include onboarding procedures, compliance oversight, foreign exchange handling, and fund flow management.
Ripple executives highlighted Australia as an important location for strengthening blockchain payment infrastructure in the Asia Pacific. Moreover, the license will allow the company to integrate digital asset services with traditional banking systems.
Additionally, Ripple will oversee liquidity management and settlement across payment rails that combine conventional finance and blockchain technology. Asia Pacific managing director Fiona Murray explained that the regulatory approval supports the company’s broader regional growth plans.
Despite the corporate development, XRP continued to trade slightly below a technical resistance area. The token changed hands near $1.3766 as sellers maintained control around the $1.40 price region.
However, analysts noted that a decisive close above $1.40 could encourage renewed buying pressure. Hence, stronger demand may push the asset toward the next technical target near $1.50.
Source: TradingView
Market indicators currently suggest that traders remain cautious. The Moving Average Convergence Divergence indicator continues to approach the zero line, which reflects balanced market momentum.
Moreover, the Relative Strength Index remains near the neutral 50 level. This reading shows that neither buyers nor sellers currently dominate the short-term market structure.
On the downside, analysts continue to watch the $1.30 support zone closely. This level previously absorbed selling pressure during several recent market pullbacks.
Consequently, a clear breakdown below $1.30 could open the path toward the next support area around $1.20. Traders continue to monitor broader market sentiment as macroeconomic data approaches.
Meanwhile, derivatives markets recorded increased activity around XRP in the past day. Trading volume across futures and perpetual contracts rose 17 percent to about $4.18 billion.
Besides the volume growth, open interest climbed slightly by 0.47 percent to roughly $2.40 billion. The increase indicates that traders continue to open new positions while monitoring price direction.
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