XRP Holds Strong as Korea’s BDACS and Japan’s SBI Holdings Fuel Mass Adoption Surge
XRP defies market jitters with rock-solid stability—while Asia's biggest financial players quietly lay the groundwork for a payments revolution.
Korea's blockchain bulldozer
BDACS isn't tinkering—it's dismantling legacy finance rails, with XRP poised to be the replacement track. Watch for frictionless cross-border deals where paperwork and delays used to live.
SBI's open secret
Japan's banking giant keeps 'accidentally' dropping XRP integration hints. Their 'experiments' look suspiciously like a fully-built institutional on-ramp waiting for regulatory green lights.
Funny how these 'pilot programs' always seem to involve banks that hate losing money. Maybe they've noticed something the crypto Twitter trolls haven't?
Korea's BDACS adds custody support for XRP
BDACS, a leading regulated digital asset custodian in Korea built for institutions, has announced custody support for XRP. The launch builds on an already existing partnership with Ripple but also underscores BDACS's commitment to providing institutional-grade services in the Korean market.
"With our recent integrations into Korea's top exchanges, including Upbit, Coinone and Korbit, clients can now deploy XRP across the largest trading venues in Korea in a regulatory compliant way," BDACS said via an X post.
SBI Holdings files for XRP, Bitcoin ETFs
One of Japan's financial giants, SBI Holdings, has filed for two exchange-traded funds (ETFs) targeting Bitcoin and XRP with the Pacific nation's Financial Services Agency (FSA). The proposed financial products include a "Crypto-Asset ETF" and a "Digital Gold Crypto ETF".
The Crypto-Asset ETF will mainly provide access to bitcoin and XRP, with the Digital Gold Crypto ETF allocating over 50% of its assets to Gold and the rest to digital assets.
SBI Japan, a subsidiary of the company, has had a longstanding partnership with Ripple, including a stake in the blockchain startup. The partnership allows SBI Japan to tap into several flagship products, such as On-Demand Liquidity (ODL) and Ripple Payments, ensuring the transfer of value in key financial corridors.
If approved, the "Crypto-Asset ETF" will expand XRP's adoption in the Asian region, while also underscoring the FSA's gradual but steady shift toward ensuring wider cryptocurrency adoption and innovation. The FSA has historically taken a slow and cautious approach to regulating digital assets, emphasizing risk management and customer protection.
XRP shrugged off the institutional adoption news, hovering below resistance at $3.00 and support at $2.92.
Technical outlook: XRP eyes breakout above $3.00
XRP price holds above support provided by the 200-period Exponential Moving Average (EMA) at $2.92. A recovery appears elusive despite the institutional adoption initiatives above.
Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) underline the short-term bearish outlook on the 4-hour chart.
The RSI holds steady below the midline, suggesting that buying pressure is not strong enough to sustain the recovery. At the same time, a buy signal will be confirmed when the blue MACD line crosses and closes beneath the red signal.
XRP/USDT 4-hour chart
Still, the SuperTrend indicator, which recently offered a buy signal, shows that bulls have a chance to regain control of the trend and push for a breakout above $3.00. This trend-following tool serves as dynamic support or resistance. It utilises the Average True Range (ATR) to gauge volatility. As support, the SuperTrend line remains below the price of XRP, encouraging risk-on sentiment.
Ripple FAQs
What is Ripple?
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
What is XRP?
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
What is XRPL?
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
What blockchain technology does XRP use?
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
