Kategorie: Crypto News

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BNY Mellon to custody Ripple’s stablecoin reserves

  • Ripple partners with BNY Mellon to custody RLUSD reserves, aiming to enhance regulatory compliance and institutional trust.
  • The move comes amid a surge of corporate and institutional interest in stablecoins, dubbed “stablecoin summer.”
  • Ripple has also applied for a US banking charter and Federal Reserve master account to deepen its role in the US financial system.

Ripple has appointed the Bank of New York Mellon (BNY Mellon) as the primary custodian for reserves backing its US dollar-pegged stablecoin, RLUSD.

The partnership, announced Wednesday, aims to strengthen regulatory compliance and institutional credibility for Ripple and its stablecoin product.

BNY Mellon, the oldest bank in the United States and a major provider of financial services to institutional clients, will facilitate the movement of reserve assets and cash to support RLUSD conversions.

The arrangement marks a significant development in Ripple’s stablecoin strategy, which launched in December 2024.

“As primary custodian, we are thrilled to support the growth and adoption of RLUSD,” said Emily Portney, global head of asset servicing at BNY. “We are proud to be working closely with Ripple to continue propelling the future of the financial system.”

Institutional interest signals “Stablecoin Summer”

The collaboration between Ripple and BNY Mellon reflects a broader trend of traditional financial institutions entering the stablecoin space.

This wave of engagement, dubbed “stablecoin summer” by CNBC, is gaining momentum amid shifting regulatory dynamics in the US.

The Trump administration is rolling back restrictive crypto policies from the Biden era, while the Senate recently passed the GENIUS Act to set guardrails for US dollar-pegged stablecoins.

This regulatory clarity is attracting major corporate players. Amazon and Walmart are said to be exploring stablecoin initiatives, while companies such as Uber, Apple, and Airbnb are also reportedly assessing similar possibilities.

Stablecoins, which are digital tokens pegged to assets like the US dollar, aim to combine the speed and efficiency of blockchain networks with the price stability of fiat currencies.

Their growing appeal among institutions underscores their perceived utility in modernizing financial infrastructure.

Ripple Eyes US banking charter, federal reserve access

In addition to securing BNY Mellon as a custodian, Ripple recently applied for a US national banking charter and a Federal Reserve master account.

If approved, this would enable Ripple to hold RLUSD reserves directly with the central bank and integrate more deeply into the US payments system.

Ripple, founded 13 years ago, is best known for its cross-border payments platform serving banks, payment providers, and other financial institutions.

While its operations are largely international, the RLUSD launch represents a strategic move to expand its US footprint.

BNY Mellon’s involvement in crypto dates back to 2021, when it established a digital assets unit focused on servicing bitcoin and other cryptocurrencies.

The bank’s custodial partnership with Ripple is its latest step in supporting the broader digital assets ecosystem.

The post BNY Mellon to custody Ripple’s stablecoin reserves appeared first on CoinJournal.

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Chainlink (LINK) accumulation hints at big breakout; check forecast

Key takeaways

  • LINK is up 4% in the last 24 hours and now trades at $14.
  • The coin can rally towards $17 soon, following weeks of accumulation around the $13 region.

The cryptocurrency market has resumed its upward rally following a poor start to the week. Bitcoin is trading above $109k once again, while Ether has crossed the $2,600 resistance level.

Chainlink’s LINK is one of the top performers among the leading 20 cryptocurrencies by market cap and looks set to rally higher in the near term.

LINK looks set to break out from its accumulation zone

LINK, the native coin of the Chainlink ecosystem, has been accumulating over the past few weeks. The accumulation comes despite Chainlink’s recent partnership with Mastercard and other protocols integrating its various products.

The coin has been trading between $12 and $14 over the last few weeks. However, the long period of accumulation could suggest a breakout soon, with many analysts expecting it to hit the $17 mark soon.

LINK eyes $17 as bulls push harder

The LINK/USD 4-hour chart is bullish and efficient thanks to its ongoing rally. The pair is also efficient after LINK swept liquidity around $12.8 over the weekend, suggesting that the bulls are preparing for another leg up.

The Relative Strength Index (RSI) of 64 indicates buying pressure for LINK, while the MACD lines in the positive zone also show that the bulls are in control.

If the rally continues, LINK could test the first major resistance level at $15.7 in the coming hours or days. An extended bullish period would allow LINK to trade around the $17.9 resistance level for the first time since May.

LINK/USD 4H Chart

However, LINK would need the help of the broader crypto market if it intends to break above the January high of $26. 

The TLQ at $12.6 provides very strong support for LINK, and the bulls would likely defend this level if the market turns bearish. Failure to defend the $12.6 support level could see LINK retest the June low of $10.9.

The post Chainlink (LINK) accumulation hints at big breakout; check forecast appeared first on CoinJournal.

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XRP price forecast as coins surges 2.19% to $2.33

  • Ripple applies for US banking licence, deepening regulatory alignment.
  • CEO Garlinghouse is involved in shaping the Senate CLARITY Act on crypto.
  • Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

XRP is gaining momentum, holding firm around $2.33 after rising nearly 3% over the past 24 hours.

 

XRP price
Source: CoinMarketCap

The renewed optimism comes amid broader crypto market recovery, but XRP appears to be outperforming as regulatory clarity aligns with growing institutional interest.

Ripple’s move to apply for a US banking licence and CEO Brad Garlinghouse’s growing role in shaping national crypto policy have also contributed to market sentiment.

Garlinghouse is reportedly involved in discussions around the Senate’s CLARITY Act, a proposed bill that aims to establish a regulatory framework for digital assets in the United States.

XRP technicals show an upward bias toward $2.40

XRP/USD is currently trading inside an ascending channel, with both the 50 and 200 exponential moving averages (EMAs) showing bullish alignment.

The 50 EMA is near $2.29, while the 200 EMA sits around $2.25.

The crossover between these two averages suggests a shift in market structure from neutral to bullish.

The price is making higher highs and higher lows, with candles consolidating along the midline of the channel.

The next significant resistance level is $2.3531.

A confirmed close above that mark could open the door to $2.38 and eventually $2.40, a psychological barrier.

Relative Strength Index (RSI) is approaching overbought levels, currently near 68, indicating some consolidation may occur before further upside.

XRP trade setup hinges on breakout confirmation or support retest

Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

A clean break and close above this resistance would signal potential for a push to $2.38 and possibly $2.40.

The price structure remains supportive of this scenario, with gradually increasing volume and technical indicators showing positive momentum.

Alternatively, if XRP fails to break above $2.35 and prints a bearish reversal signal, such as a shooting star or long upper wick, traders may look for re-entry around $2.30.

This level is aligned with the 50 EMA and the lower boundary of the current channel, providing a potential support zone.

In either case, XRP’s technical setup offers clearly defined entry and exit levels for traders responding to short-term price action.

Outlook turns bullish as regulatory hurdles ease

XRP’s recent strength comes as the broader crypto market rebounds from macroeconomic pressures earlier this year.

While other assets are still regaining footing, XRP’s position has been bolstered by decisive legal victories, active policy involvement, and an improving technical structure.

Ripple’s alignment with US regulatory frameworks and ongoing efforts to engage with lawmakers place it at the centre of evolving crypto legislation.

As Ripple continues to push for institutional adoption, the combination of legal clarity, policy engagement, and technical momentum could support further growth for XRP in the weeks ahead.

The post XRP price forecast as coins surges 2.19% to $2.33 appeared first on CoinJournal.

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Cronos (CRO) up 18% after inclusion in Truth Social’s Crypto Blue-Chip ETF

Key takeaways

  • Altcoins have performed excellently over the last 24 hours, with Ether, XRP, and Aave leading the way.
  • Cronos’s CRO token is the best performer in the top 50, up 18% and eyeing the $0.1099 resistance level

Cronos rallies on Truth Social’s Crypto Blue-Chip ETF

Altcoins have had a positive 24 hours, with Ether, Solana, XRP, and Cardano all adding 3% to their values. Aave and Cronos (CRO) are other coins that have performed excellently, backed by strong fundamentals.

CRO, the native coin of the Cronos blockchain, is the best performer among the top 50 cryptocurrencies by market cap. The coin added 18% to its value in the last 24 hours to hit a high of $0.1000 before retracing to now trade at $0.0970. 

The rally was fueled by reports that confirm that CRO will be part of the Crypto Blue-Chip ETF that Truth Social filed with the SEC. The fund was proposed by Truth Social in partnership with Trump Media & Technology Group.

The ETF is set to bring together top cryptocurrencies into a single financial product to be listed on NYSE Arca. Its distribution was set at 70% for Bitcoin, 15% for Ethereum, 8% for Solana, 5% for Cronos, and 2% for XRP. This announcement sparked a rally for CRO. 

CRO is the native coin of Cronos, the blockchain created by cryptocurrency exchange Crypto.com.

CRO eyes the $0.1099 resistance level amid bullish indicators

The CRO/USD 4-hour chart is bullish and efficient, indicating that traders have swept liquidity to the downside and are ready for another leg up. The technical indicators are bullish, suggesting that CRO could rally higher.

The RSI of 77 shows that CRO is currently heading into the overbought region after adding 18% to its value in the last 24 hours. The red and blue MACD lines have also crossed into the positive zone, suggesting buying pressure.

CRO/USD 4H chart

With the bulls still in control, CRO could rally to the next resistance level at $0.1099 over the coming hours or days. It has already established a weak support level at $0.0919 after gaining efficiency a few hours ago.

If the rally continues, CRO could test the next major resistance level at $0.1202, its highest level since March. 

However, if the bears regain control, CRO could lose its recent gains and test the $0.0793 support level. The TLQ at $0.0691 should provide strong support in case the bearish trend lingers on.

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Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

Bitcoin continues to trade in a narrow range as the Asian trading day begins on Wednesday, with the world’s largest digital asset changing hands above $108,900.

This period of consolidation comes as market observers point to a lack of strong conviction, even as a new filing reveals plans from Trump Media & Technology Group to launch a diversified ‘Crypto Blue Chip ETF’.

Bitcoin is holding its ground, and the CoinDesk 20 index, a broad measure of the largest digital assets, is up 1.7% to over 3,100, according to CoinDesk market data.

However, the current price action feels more like a drift than a decisive rally.

According to market observers, what separates Bitcoin’s current position from a sustained push past the $110,000 mark is a lack of clear market conviction.

In a recent report, on-chain analytics firm Glassnode highlighted several indicators of this hesitancy.

Spot trading volumes for Bitcoin continue to linger below their usual statistical bands, and inflows into spot Bitcoin ETFs have contracted sharply from their recent highs.

Furthermore, institutional investors appear cautious, despite sitting on significant unrealized gains, as shown by elevated ETF Market Value to Realized Value (MVRV) ratios.

Trading firm Wintermute, in a market update from earlier this week, described this environment as a “barbell market.”

They pointed to a stark divide between renewed enthusiasm in high-beta, high-risk assets like memecoins, and a preference for the stability of established large-cap tokens like Bitcoin and Ethereum.

Notably, last year’s “narrative darlings,” such as AI and DePIN (Decentralized Physical Infrastructure Networks) tokens, have lost investor attention.

This suggests that traders are either rotating into the speculative frenzy of memecoins—many of the major ones like DOGE, SHIB, and PEPE are up over 8% in the last week—or they are staying put in the perceived safety of BTC and ETH, which are seen as battle-tested and secure.

With global equity markets largely shrugging off recent geopolitical uncertainties, Bitcoin’s current hesitancy underscores a lingering caution among crypto traders.

The market seems to be awaiting a clearer directional signal before making a decisive move higher, and things are likely to remain range-bound until that catalyst appears.

Trump Media’s crypto gambit: the ‘Blue Chip ETF’

Adding a new dimension to the crypto investment landscape, Trump Media & Technology Group (DJT) has revealed plans to launch another exchange-traded fund (ETF), this one designed to hold more than just Bitcoin and Ether.

The Truth Social parent company, founded by President Donald Trump, filed on Tuesday to create the “Truth Social Crypto Blue Chip ETF.”

According to the filing, the proposed fund would be composed of 70% Bitcoin and 15% Ether, complemented by an 8% allocation to Solana, 5% to Cronos, and 2% to XRP.

The filing stated that the proposed fund would trade on the New York Stock Exchange’s Arca platform, a popular venue for ETFs.

This news follows a move by Trump Media last month to file for two other ETFs: one that would invest 75% of its assets in Bitcoin and the remainder in Ether, and another that would be comprised solely of Bitcoin.

In all three instances, Trump Media has indicated that the launches would happen “later this year.” Back in March, Crypto.com announced that it would partner with Trump Media to offer these ETFs.

This series of filings underscores Trump Media’s deepening commitment to the digital asset space, following its announcement in May of a plan to raise $2.5 billion to purchase Bitcoin for its corporate treasury.

As of the latest market data, Bitcoin was trading just below $109,000, while Ether was changing hands above $2,600.

The other components of the proposed ETF, Solana, Cronos, and XRP, were trading at about $151, 10 cents, and $2.30, respectively.

Shares of Trump Media (DJT) rose close to 3% on Tuesday following the filing, though they remain down more than 40% for the year 2025.

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