XRP Soars Past $2.40 as Ripple Lands Banking Giant BNY Mellon for RLUSD Custody
Ripple's XRP just punched through $2.40—marking another milestone in its bull run. Meanwhile, Wall Street's oldest bank just joined the crypto custody game.
BNY Mellon—the $46 trillion asset custodian—inked a deal to safeguard Ripple's upcoming stablecoin (RLUSD). Guess even dinosaurs learn new tricks when money's involved.
This isn't just a partnership—it's a full-scale institutional endorsement. BNY Mellon's infrastructure will provide RLUSD with the same rails used by sovereign wealth funds and hedge funds. Sleepy finance giants? More like reluctant crypto converts.
XRP's price surge coincides with Ripple's chess moves in TradFi. Coincidence? Unlikely. The market's betting that regulatory clarity and heavyweight backers could finally unlock the "banker's crypto" potential.
One problem: BNY Mellon still charges custody fees that'd make a Bitcoin maxi weep. Some traditions die harder than others.
This surge in attention follows Ripple’s strategic partnership with BNY Mellon, now the official custodian of reserves for Ripple’s U.S. dollar-pegged stablecoin, RLUSD. Meanwhile, bullish sentiment is building across the XRP charts, with technicals hinting at a potential breakout and market Optimism fueled by Ripple’s push for regulatory clarity.
With XRP trading near a critical threshold and institutional developments gaining momentum, the crypto community is watching closely to see if this double dose of news will push XRP toward the next leg up.
XRP Price Climbs Toward $2.40 Amid Bullish Technical Setup
The xrp price surged to test the $2.40 resistance level this week, gaining strength from favorable technical signals and renewed optimism around crypto regulations. XRP has now reclaimed the 0.382 Fibonacci level at $2.268—a pivotal area that hasn’t been revisited since early May. This movement signals a potential continuation toward the $2.70 mark if momentum holds.
XRP was trading at around $2.381, up 3.96% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin
On shorter timeframes, XRP’s 4-hour chart shows robust bullish alignment. The 20-period EMA has crossed above the 50, 100, and 200-period EMAs, signaling firm short-term control by buyers. Meanwhile, XRP is trading along the upper Bollinger Band, which indicates rising volatility in favor of a breakout.
From a broader perspective, XRP’s daily and weekly structures suggest a confirmed reversal, supported by a higher low at $2.06 and a sustained break above a descending trendline that has capped prices since February. If XRP secures a weekly close above $2.70, it could open the door toward the $3.00 to $3.40 zone in the coming sessions.
However, a failure to hold above $2.30 could trigger a short-term pullback toward the $2.10 demand level. As of the latest market data, XRP today is holding steady just under the $2.40 level, with traders watching for confirmation of the next leg up.
Ripple CEO Urges Regulatory Clarity During U.S. Senate Testimony
XRP’s price rally comes as Ripple CEO Brad Garlinghouse appeared before the U.S. Senate Banking Committee to advocate for clearer regulatory frameworks around digital assets. The hearing, titled “From Wall Street to Web3,” focused on bridging the gap between traditional finance and decentralized technologies.
Ripple CEO Brad Garlinghouse has released his full testimony ahead of tomorrow’s Senate Banking Committee hearing. Source: Amelie via X
Garlinghouse emphasized Ripple’s compliance-first approach and spotlighted the XRP Ledger (XRPL) as a scalable solution for stablecoin issuance and cross-border payments. His testimony added further weight to XRP’s growing relevance in the global financial landscape.
“The U.S. needs regulatory clarity to remain competitive in blockchain innovation,” Garlinghouse stated during his appearance. His comments align with Ripple’s broader strategy of integrating crypto banking within the U.S. financial system.
Ripple Taps BNY Mellon for Custody RLUSD Reserves
In a major institutional move, Ripple has selected BNY Mellon—America’s oldest bank and a $50 trillion asset manager—as the official custodian for its Ripple USD (RLUSD) stablecoin reserves. This strategic partnership aims to enhance transparency, compliance, and trust in RLUSD as it gains traction in what has been dubbed “stablecoin summer.”
Ripple CEO Brad Garlinghouse discusses the company’s newly announced banking partnership. Source: @scottmelker via X
“As primary custodian, we are thrilled to support the growth and adoption of RLUSD,” said Emily Portney, BNY Mellon’s global head of asset servicing. “We’re working closely with Ripple to help shape the future of finance.”
The collaboration signals Ripple’s deepening ties with traditional financial institutions at a time when Washington is accelerating efforts to pass federal stablecoin legislation. RLUSD, which launched in December 2024, is currently regulated at the state level by the New York Department of Financial Services (NYDFS), but Ripple has recently applied for a national trust bank charter with the OCC.
If granted, Ripple WOULD be among the few crypto-native firms with federal banking privileges—alongside Circle and Anchorage Digital. The company also filed for a Federal Reserve master account to gain direct access to the central bank’s payment rails.
Institutional Interest in RLUSD Signals Broader Adoption
The MOVE to bring BNY Mellon on board aligns with Ripple’s ambitions to expand RLUSD’s role in global payments. Ripple’s senior VP of stablecoins, Jack McDonald, highlighted that dual regulation—state and federal—would set a new benchmark for transparency in the stablecoin industry.
With a market cap nearing $469 million, RLUSD has quickly grown into one of the most prominent new entrants in the stablecoin space. The token’s momentum is further fueled by speculative interest from major companies like Amazon, Apple, Uber, and Walmart, which are reportedly exploring stablecoin integrations for payment efficiency.
Ripple’s proactive approach to regulation and infrastructure has helped lift XRP prices, which surged past the $2.28 resistance following news of the banking license application and BNY Mellon partnership.
XRP Price Prediction 2025: What’s Next?
Given the current market structure and momentum, XRP’s medium-term price targets are now projected between $2.70 and $3.40. The confirmation of institutional partnerships, the Senate testimony, and Ripple’s stablecoin push have all contributed to the renewed investor confidence.
XRP remains range-bound between $1.90 and $3.38, with a breakout potentially paving the way toward $5 as fundamentals turn bullish. Source: CryptoSkullSignal on TradingView
From a longer-term perspective, XRP price prediction 2025 scenarios remain optimistic, especially if regulatory clarity is achieved and Ripple gains federal banking approval.
However, risks remain. The Ripple vs SEC case, while mostly resolved, could still introduce unexpected developments. Traders are also closely watching macroeconomic indicators and legislative timelines for further cues.
