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• 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.

• 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.

 

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.