Ripple President Breaks Silence on BNY Deal, While XRP Price Skyrockets
2025-07-09 16:37:39
Main Idea
Ripple's partnership with Bank of New York Mellon (BNY) for its stablecoin RLUSD has boosted XRP's price, with RLUSD reaching a $500M market cap in six months.
Key Points
1. Ripple President Monica Long confirmed the partnership with BNY Mellon, emphasizing the use of XRP where it makes sense.
2. RLUSD, designed for institutional cross-border payments, has surpassed $500M in market capitalization, ranking eighth among stablecoins.
3. XRP's price surged, breaking out of an inverse head-and-shoulders pattern, reaching $2.35 with potential momentum targets at $2.45 and $2.62.
4. BNY Mellon's involvement provides institutional credibility to Ripple's RLUSD, shifting its positioning from aspirational to operational.
Description
XRP price skyrockets as Ripple president breaks silence on Bank of New York deal
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