Ripple’s RLUSD Gains Institutional Backing as XRP Shows Potential Market Momentum
2025-07-09 17:07:31
Main Idea
Ripple's partnership with BNY Mellon enhances RLUSD's institutional credibility and market position, while XRP shows positive price momentum following the announcement.
Key Points
1. Ripple announced Bank of New York Mellon Corporation as the primary reserve custodian for RLUSD, boosting its institutional credibility.
2. RLUSD's architecture is designed for high-volume cross-border payments, offering enhanced liquidity and speed with institutional-grade safeguards.
3. XRP exhibited a technical breakout, reaching $2.35, with potential targets of $2.45 and $2.62 if trading volume sustains.
4. RLUSD surpassed a $500 million market capitalization in just over six months, ranking eighth among stablecoins.
5. The partnership combines BNY Mellon's custodial expertise with Ripple's blockchain infrastructure, setting a standard for future stablecoin developments.
Description
Ripple has secured a significant partnership with Bank of New York Mellon (BNY) as the primary reserve custodian for its enterprise-focused stablecoin, RLUSD, marking a pivotal advancement in institutional crypto
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