XRP Surges as BIS Study Highlights Institutional Potential

The Bank for International Settlements (BIS) published a study on September 2 that highlighted the potential of the XRP Ledger in official data verification. The research explored whether summary values and cryptographic fingerprints of official datasets could be securely anchored on XRPL.

XRP's price surged by about 3% after the study was released, underscoring the platform's evolving institutional relevance. The token traded at $1.39, with its 200-day exponential moving average (EMA) at $1.35 serving as a pivotal technical reference point.

Ethereum also experienced significant technical and on-chain milestones, including a bullish trend that emerged after it broke above the $2,169 resistance area. The asset's price remains over 10% above its 200-day moving average, with the daily RSI at 63 indicating healthy consolidation.