XRP increases in value following HKIMR recognition of Ripple for cross-border payments
June 20, 2026
XRP experienced a 2% price increase over the last 24 hours, reaching $1.15, following the recognition by the Hong Kong Institute for Monetary Research (HKIMR) as a cost-effective option for cross-border payments. Investor sentiment improved as trading activity picked up, despite strong underlying fundamentals, driven by Ripple’s continuous efforts to enhance its international payment network.
The total transaction value for XRP stood at $1.07 billion, with trading volume decreasing by 42% to $71.14 billion within 24 hours, while market capitalization remained at $71.14 billion. The token’s value is closely linked to Bitcoin price fluctuations in a market environment heavily influenced by geopolitical factors and US Federal Reserve interest rate expectations.
HKIMR’s acknowledgment of XRP as a facilitator of cheaper and faster international payments brought about a recovery in its value. The traditional correspondent banking system, known for high costs and slow settlement times due to intermediary banks, has been criticized. XRP enables cross-border settlements in just three to five seconds with fees averaging $0.0002 per transaction. Additionally, Ripple’s On-Demand Liquidity service eliminates the need for pre-funded currency accounts, freeing up capital that would otherwise be tied up in correspondent banks.
XRP’s recent price movement mirrors the simultaneous increases in Bitcoin (+1.53%) and the total cryptocurrency market cap (+1.44%). The short-term trajectory of the token is closely correlated with overall cryptocurrency market movements rather than unique fundamentals.
From a technical perspective, XRP is currently testing a crucial support range between $1.10 and $1.15. The next significant price level to watch is the 20-day EMA near $1.19. An uptrend will be confirmed if Bitcoin maintains its bounce above $63,500. Conversely, a decline below $1.10 could indicate weakness towards the $1.05 low. A definitive break above $1.20 on increased trading volume would signal a stronger bullish trend for XRP.
