XRP News: Ripple Forms Strategic Partnership with BDACS for Crypto Custody Services in South Korea

Ripple has inked a strategic deal with South Korean digital asset firm BDACS to offer custody solutions for XRP and RLUSD stablecoin, aiming to bolster the growth of XRP Ledger (XRPL) developers and its ecosystem.

Ripple Partners with BDACS to Provide Crypto Custody in South Korea

Ripple has announced a strategic partnership with South Korean digital asset firm BDACS to offer custody services for XRP and RLUSD stablecoin. The partnership aims to support the growth of XRP Ledger (XRPL) developers and its ecosystem. BDACS will leverage Ripple Custody to provide “institutional-level” digital asset custody services for South Koreans. Monica Long, President of Ripple, emphasized the importance of secure, institutional-grade custody technology as enterprises prepare for an influx of crypto interest. South Korea is gearing up for a wave of institutional crypto adoption.

XRP Futures Open Interest Hits 2025 Low

Open interest in XRP futures has dropped to its lowest level in 2025, suggesting traders are unwinding Leveraged positions. This does not necessarily indicate a widespread bearish sentiment, but raises concerns over whether XRP’s recent bullish momentum has weakened. The total open interest declined to $1.33 billion, an 8% drop from the previous week, according to CoinGlass. Funding rates also signal a cautious market sentiment.

XRP Price Crash Nearing End, Analyst Predicts $8 Next

The XRP price has declined almost 35% since its mid-January peak at $3.40, but according to analyst Dark Defender (@DefendDark), the downward trend may soon conclude. In his latest technical analysis, he highlights that XRP is finalizing an ABC correction pattern on the daily timeframe, supported by the Relative Strength Index (RSI) approaching oversold conditions. This could indicate an imminent trend reversal leading to a new bullish wave structure. The ABC correction is a standard pattern in Elliott Wave Theory, representing a three-wave corrective movement following an impulsive rally.

XRP Defends $2 Support Amid Market Volatility

Ripple’s XRP is defending the critical $2 support level despite extreme fear in the market. The daily chart shows strong support with sellers rejected at key levels, reinforcing a bullish structure. RSI is bottoming out, and futures traders are deleveraging to three-month lows, with over $1 billion in liquidations last week. However, a 40.97% drop in volume signals weak conviction at the $2 level, suggesting it hasn’t been fully established as a stable support. For a sustained recovery, larger players must absorb the ongoing de-risking.