Recent developments have stirred significant activity for a prominent company, its native token, and its stablecoin. Here’s a closer look at the latest news.
In a notable move, Ripple has partnered with BBVA, one of Spain’s leading banks, to provide digital asset custody services. This collaboration follows BBVA’s launch of a new crypto-asset trading and custody platform that allows retail clients to trade Bitcoin (BTC) and Ether (ETH). Ripple has previously established ties with BBVA, also supplying technology to its branches in Turkey and Switzerland.
In addition to this partnership, Ripple has announced details of its upcoming Ripple Swell 2025 event. Scheduled for November 4-5 in New York City, the annual conference aims to convene industry experts and XRP enthusiasts. The event will cover key topics such as stablecoins, payments, regulatory issues, and real-world adoption, underscoring Ripple’s commitment to shaping the future of finance.
Meanwhile, Ripple’s stablecoin, RLUSD, is gaining traction, especially in Africa, thanks to partnerships with Chipper Cash, VALR, and Yellow Card. This USD-pegged stablecoin facilitates instantaneous cross-border payments, making it a viable option for local businesses. Notably, RLUSD is also being employed in pilot projects aimed at disaster relief, particularly in Kenya. These projects, led by Mercy Corps Ventures, utilize smart contracts to deliver insurance payouts based on satellite data indicating drought or flood conditions, offering farmers crucial financial support.
Since its introduction in late 2024, RLUSD has accumulated a market capitalization nearing $730 million; however, it still falls short compared to leading stablecoins like USDT and USDC. Additionally, RLUSD is being used as a payment tool for VivoPower’s electric-vehicle subsidiary, Tembo.
As for Ripple’s native token, XRP, it is currently trading at approximately $3, marking a weekly increase of 5.5%. Analysts have a range of predictions regarding XRP’s price movement. For instance, Ali Martinez suggested that XRP could rise to $3.60 if it breaks free from a recent descending triangle pattern. Others, such as TRACER and XForceGlobal, have even more bullish forecasts, anticipating potential price surges to $6 and $20, respectively.
As these developments unfold, both Ripple and its digital asset ecosystem continue to make strides in the evolving landscape of cryptocurrency and finance.
