Ripple on Tuesday announced it expanded its partnership with BNY (NYSE:BK) to strengthen institutional custody and explore tokenized trade finance.
The expanded strategic collaboration now lets BNY support custody of XRP (CRYPTO: XRP) and the RLUSD (CRYPTO: RLUSD) stablecoin through its Digital Asset Custody platform.
The companies also plan to explore direct RLUSD minting and redemption for BNY clients and expand support for tokenized assets issued on the XRP Ledger.
Ripple President Monica Long said the focus is shifting from issuing tokenized assets to making them usable for payments and collateral across financial markets.
Ripple and BNY are also exploring a partnership with C2FO to tokenize trade receivables on XRPL, potentially expanding access to working capital financing.
Ripple cited RLUSD’s $2.5 billion market cap and XRPL’s 4.6 billion-plus historical transactions as signs of growing institutional adoption.
Will XRP Rebound?
Crypto analyst Ali Martinez noted that the TD Sequential indicator has flashed a buy signal on XRP’s three-day chart.
Three similar signals in the past preceded rebounds of 31%, 24% and 18%, suggesting another recovery could be possible.
Martinez flagged $1.25 as key support, with a hold potentially lifting XRP to $1.40, while a breakdown could trigger a drop to $0.98 amid whale selling.
Santiment data shows wallets holding at least 10 million XRP control 46.87 billion tokens, or 68.5% of tracked supply, the highest since November 2022.
Despite XRP trading near $1.29, whale accumulation continues, with $1.30 as the immediate pivot and $1.50 as a bullish confirmation level.
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