Mastercard Expands XRP Presence Amid Strong Institutional Support

Mastercard is expanding its presence in the XRP Ledger ecosystem by sponsoring an upcoming hackathon. The event, which will focus on protocol development and other areas, takes place immediately before Ripple's Swell conference.

This news comes as XRP prices struggle to hold onto a sharp August rally. Despite this, institutional flows continue to provide support for the asset. U.S. spot XRP ETFs have recorded their strongest week in over three months, with cumulative net inflows reaching approximately $1.55 billion.

The sponsorship is notable because Mastercard's involvement with Ripple-linked infrastructure extends beyond a developer event. The company had previously announced plans to broaden its settlement capabilities to regulated stablecoins, including Ripple USD (RLUSD), across several networks, including the XRP Ledger.

XRP prices have pulled back from their August highs, but the $1.36 support zone remains a key technical level for traders. A recovery above $1.43-$1.45 would improve the short-term structure, while a decisive break below $1.36 could expose the $1.30 area.