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Ripple News
Zycrypto
3h
216
Image Credit: Zycrypto
Ripple Taps Banking Giant BNY Mellon To Secure Dollar Reserves For RLUSD As Market Cap Hits $500 Million
- Ripple has appointed BNY Mellon as the primary custodian of reserve assets backing its enterprise-focused stablecoin, Ripple USD (RLUSD), in an effort to boost institutional digital asset adoption.
- The collaboration with BNY Mellon aims to support RLUSD's operations, liquidity management, and enables holders to redeem the token 1-for-1 for dollars within traditional money-market fund controls.
- RLUSD's market cap exceeds $500 million as it gains traction among institutional clients, reflecting a 61% surge in market cap since the beginning of June.
- Ripple's move to secure banking charters and integrate with the U.S. financial system, coupled with the BNY Mellon partnership, signals increasing institutional support for XRP, which saw a 3.8% rise in value post-announcement.
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Crypto-News-Flash
4h
74
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
4h
169
Image Credit: TronWeekly
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
4h
101
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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
4h
33
Image Credit: Cryptoticker
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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Blockonomi
5h
335
Image Credit: Blockonomi
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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20 Likes
Bitcoinist
6h
334
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
7h
287
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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Cryptopotato
15m
211
Image Credit: Cryptopotato
XRP Prices Hit 7-Week Peak as This Crucial Metric Suggests Further Gains
- XRP prices saw a significant rise, hitting a seven-week peak at $2.4, driven by an uptick in the cryptocurrency market and a call for a massive interest rate cut by the Federal Reserve.
- The surge in XRP price could be linked to large investors accumulating substantial portions of its supply, with the number of wallets holding at least a million XRP reaching an all-time high.
- Analytical data suggests growing confidence in XRP's future, potentially leading to further gains, as retail investors might follow the accumulation pattern of 'smart money.'
- There is optimism among XRP supporters regarding the asset's price trajectory, with indications that surpassing the $2.38 resistance could trigger a 12% surge to $2.60.
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12 Likes
Newsbtc
43m
217
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Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated
- Crypto analyst BarriC predicts XRP could surge from $2 to $1,000 much faster than expected, based on historical performance and comparing the current price with its previous all-time high of $3.40 in 2018.
- BarriC's bold forecast has sparked optimism among XRP investors, with some believing in the potential for significant price appreciation, while others express doubt over the feasibility of such a rapid rise.
- Community reactions to the prediction are mixed, with some users supporting the outlook of XRP reaching $1,000 soon, while others caution that XRP's growth is now anticipated, potentially limiting the element of surprise that fueled its previous rally.
- XRP is currently trading at $2.33, with a 2.6% increase in the past 24 hours. Achieving the $1,000 price target would represent a 42,800% return from the current levels.
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Bitcoinsensus
2h
278
Image Credit: Bitcoinsensus
Ripple Taps BNY Mellon as RLUSD Custodian Amid Stablecoin Legislation Push
- Ripple Labs has partnered with Bank of New York Mellon (BNY Mellon) to have the financial institution act as the primary custodian of its new stablecoin $RLUSD, aiming to deepen institutional trust and regulatory alignment.
- BNY Mellon's selection as the custodian for RLUSD signifies a move to enhance institutional adoption and trust for the stablecoin, with both Ripple and BNY Mellon focused on facilitating digital asset adoption at an institutional level.
- The partnership comes in the context of the U.S. Senate approving the Genius Act, leading to increased competition among stablecoin issuers to meet stringent reserve, audit, and compliance requirements outlined in the bill.
- With BNY Mellon managing RLUSD's reserves, which were previously handled in-house by Ripple's trust company, the stablecoin gains access to BNY Mellon's extensive assets under custody, strengthening its institutional footprint and compliance positioning amidst changing U.S. stablecoin regulations.
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16 Likes
Livebitcoinnews
5h
266
Image Credit: Livebitcoinnews
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
7h
122
Image Credit: Newsbtc
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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7 Likes
Crypto-News-Flash
7h
49
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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2 Likes
Coinjournal
7h
91
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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