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Ripple News
Zycrypto
44m
197
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Ripple Taps Banking Giant BNY Mellon To Secure Dollar Reserves For RLUSD As Market Cap Hits $500 Million
- Ripple has partnered with the Bank of New York Mellon (BNY Mellon), a major custody bank with $53 trillion under its oversight, to secure reserve assets for its enterprise-focused stablecoin, Ripple USD (RLUSD).
- The collaboration with BNY Mellon aims to enhance institutional adoption of digital assets by providing custody for RLUSD reserves, supporting token operations with transaction banking services, and managing liquidity for the reserves backing the stablecoin.
- RLUSD, designed for enterprise utility and governed by traditional money-market fund controls, has achieved a market cap exceeding $500 million. This growth follows Ripple's strategic moves, including applying for a national banking charter and a Federal Reserve master account.
- The XRP token price rose to $2.37 after the Ripple-BNY Mellon partnership announcement, indicating potential market optimism regarding increased institutional backing for Ripple's initiatives.
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Zycrypto
50m
55
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Massive XRP Bump Incoming As RLUSD Could Be Ripple’s Biggest Play Yet in the Payments Game
- Ripple is expanding into global payments with RLUSD, a U.S. dollar-pegged stablecoin, through a partnership with London-based payments firm OpenPayd.
- RLUSD integration aims to streamline cross-border business payments, marking a significant move for Ripple away from XRP and towards meaningful financial innovation.
- The stablecoin will be available on the XRP Ledger and Ethereum blockchains, aiming to bridge the stablecoin gap in the market.
- Ripple's pivot towards infrastructure-first products aligns with evolving compliance expectations, and the integration with OpenPayd could determine RLUSD's performance in the competitive stablecoin market.
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Crypto-News-Flash
1h
70
Image Credit: Crypto-News-Flash
Trump Rally 2.0? Raoul Pal Sees XRP Primed for 69,000% Upside
- Raoul Pal suggests that the current crypto market cycle resembles the 2017 move.
- XRP surged by over 60,000% after Donald Trump's inauguration in 2017.
- Raoul Pal believes the USD weakness post-election could result in a surge in risk assets such as stocks and crypto, including XRP.
- Various predictions for XRP's price this cycle range from $14 to a high of $73, with XRP currently trading at $2.3.
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TronWeekly
1h
159
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Ripple Strikes Landmark $500M Custody Agreement with BNY Mellon for RLUSD
- Ripple has chosen BNY Mellon to manage a $500 million reserve for its RLUSD stablecoin to enhance cross-border payments.
- RLUSD, backed 1:1 with USD and under NYDFS regulations, prioritizes compliance and transparency.
- BNY Mellon brings extensive custody solutions and a growing digital asset infrastructure to the partnership with Ripple.
- The collaboration aims to address inefficiencies in cross-border payments with enhanced transparency and institutional-grade stability.
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Pymnts
1h
96
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Ripple Taps BNY for Stablecoin Reserve Custody
- Ripple has selected BNY as the primary custodian for its stablecoin reserves, RLUSD.
- BNY's expertise in custody services is aimed at enhancing the interoperability between stablecoins and traditional assets.
- This move follows BNY's deepening relationship with stablecoin issuer Circle and signals the increasing adoption of stablecoins by major banks in the United States.
- The partnership reflects the banking industry's shift towards stablecoin infrastructure and emphasizes the need for secure digital asset custody.
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Cryptoticker
1h
32
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Don’t Ignore XRP: The Price Pattern You Must See Today
- XRP price is showing signs of building upward momentum and pushing against key resistance levels on the daily chart.
- The Relative Strength Index (RSI) is trending higher, Heikin Ashi candles suggest strong buyer sentiment, and investors are speculating on whether XRP can break past $2.50 and aim for $3.
- Technical analysis indicates that XRP's recent bullish structure with higher highs and higher lows could lead to a potential breakout towards $2.60 and possibly $2.80, with $3 as a stretch target this month.
- Traders should watch for a possible pullback around $2.25 before a potential move towards higher levels, contingent on Bitcoin and market conditions remaining bullish.
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Newsbtc
2h
135
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Analyst Predicts 50% “Moonshot” For XRP Price If This Line Breaks
- Crypto analyst predicts a 50% rally for XRP price if it breaks above a key resistance level on its BTC pair.
- The XRP price could surge to $3.35, nearing its current all-time high, with a potential new yearly high if the resistance level is broken.
- Other analysts suggest further rallies for XRP, with price targets ranging from $2.55 to a new all-time high of $5.30.
- Different scenarios are outlined following a break above $2.30, with potential price targets ranging from $2.45 to $3 and beyond.
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Blockonomi
3h
323
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Ripple Selects BNY Mellon as Custodian for RLUSD Stablecoin Reserves
- RLUSD will be backed 1:1 by liquid assets and operate under NYDFS oversight.
- BNY Mellon will handle custody and settlement for Ripple’s enterprise stablecoin.
- RLUSD is designed to serve institutional clients and cross-border payments.
- Partnership combines Ripple’s blockchain tools with BNY Mellon’s banking infrastructure.
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19 Likes
Bitcoinist
4h
325
Image Credit: Bitcoinist
Here’s What Ripple CEO Garlinghouse Is About To Tell US Senate Today
- Ripple CEO Brad Garlinghouse is set to testify before the Senate Banking Committee to advocate for regulatory clarity and make the U.S. a global blockchain and crypto leader.
- Garlinghouse highlights Ripple's mission to enable the Internet of Value and the benefits of XRP Ledger for fast, low-cost cross-border payments.
- He criticizes the policy vacuum around crypto in the U.S., citing Ripple's litigation with the SEC and urges for clear jurisdictional boundaries, pathways for U.S. companies, and a framework to lead in crypto.
- Garlinghouse urges lawmakers to prioritize market-structure legislation for digital assets to enhance U.S. competitiveness and closes with a call for the U.S. to become the undisputed leader in digital assets.
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Cryptopotato
5h
281
Image Credit: Cryptopotato
Ripple Taps The Oldest US Bank to Custody RLUSD
- The Bank of New York Mellon Corporation (BNY Mellon) has been chosen to be the custodian for Ripple's RLUSD stablecoin.
- RLUSD was launched at the end of last year and is pegged to the US dollar at a 1:1 ratio, focusing on enterprise utility for cross-border payments.
- BNY Mellon has a history of involvement in the cryptocurrency market and will also provide transaction banking services to Ripple.
- This collaboration aims to bridge the gap between traditional finance and cryptocurrencies, targeting institutional-scale digital asset adoption.
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TronWeekly
6h
345
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Ripple CEO Urges Senate for Crypto Clarity as U.S. Risks Falling Behind
- Ripple CEO Brad Garlinghouse urged the Senate for clear crypto legislation to prevent the U.S. from lagging behind other countries.
- Ripple's legal victory against the SEC has implications for the wider crypto industry.
- Clear regulations could help the U.S. regain its leadership position in blockchain innovation.
- Garlinghouse emphasized the need for immediate legislative reform to establish regulatory clarity and promote innovation in the U.S. crypto market.
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Livebitcoinnews
3h
257
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Here’s What To Watch Out For With XRP
- XRP is showing signs of potential upward momentum with a target towards $3, facing immediate resistance at $2.20 to $2.30 range.
- Technical analysis indicates a challenge at the 200-day SMA at $2.36 for XRP to trigger significant rallies.
- XRP's volume and momentum support a bullish sentiment, with predictions of pushing towards the $2.40s if breakout holds.
- There are concerns that the current XRP rally might be driven by profit-taking rather than fresh demand based on recent on-chain data showing increased tokens moving to centralized exchanges.
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Newsbtc
4h
119
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XRP Makes Trump’s Unspoken Crypto Top 5—What You Need To Know
- Trump Media & Technology Group filed for the “Truth Social Crypto Blue Chip ETF” with the SEC, featuring a diversified portfolio including XRP.
- The ETF consists of a five-coin portfolio with allocations of approximately 70% bitcoin, 15% ether, 8% solana, 5% Cronos, and 2% XRP, marking Trump's first venture beyond bitcoin and ether.
- Solana, Cronos, and XRP's inclusion in the ETF hints at how Trump's team perceives the top crypto assets, with each token representing different aspects of the crypto market.
- XRP's modest two-percent allocation reflects its evolving legitimacy and institutional adoption, despite past controversies related to the Ripple connection.
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Crypto-News-Flash
5h
48
Image Credit: Crypto-News-Flash
Ripple vs SEC Nearing Resolution? XRP Investors Watch July 10 SEC Meeting
- SEC to potentially drop its appeal in the Ripple case on July 10, leading to a bullish rally in XRP if successful.
- Ripple's CEO, Brad Garlinghouse, to speak at a Senate hearing on July 9 about crypto regulations and the case with the SEC.
- XRP price currently at $2.33 with a positive trend, showing signs of potential price rally and technical breakout.
- The upcoming SEC ruling and the Senate hearing are crucial factors that could influence XRP's future price action.
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Coinjournal
5h
89
Image Credit: Coinjournal
XRP price forecast as coins surges 2.19% to $2.33
- Ripple applies for a US banking license and CEO Garlinghouse is shaping national crypto policy, contributing to positive market sentiment.
- XRP price forecast shows an upward bias toward $2.40, with technical indicators indicating bullish momentum.
- Traders are monitoring for a breakout above $2.3531 to confirm bullish continuation and potential targets at $2.38 and $2.40.
- XRP's recent strength is attributed to regulatory clarity, legal victories, policy engagement, and technical improvements, supporting a bullish outlook for XRP's growth.
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