Institutional crypto storage firm BDACS will use Ripple Custody to secure XRP and RLUSD. RLUSD is a dollar-pegged stablecoin issued by Ripple. The partnership targets institutional clients seeking secure storage for digital assets.

Meanwhile, the XRPUSD H1 chart shows the price trading between two horizontal levels, with the next breakout set to be crucial for determining its direction on the intraday charts.

Ripple Custody Enhances Crypto Storage Solutions

Ripple Custody provides software infrastructure for crypto custodians, exchanges, and financial institutions. The service allows businesses to store, manage, and access cryptocurrencies through a system designed to meet regulatory and security requirements. The custody solution supports features like multi-signature wallets and transaction controls.

Leveraging Busan’s Blockchain-Friendly Economic Zone

The collaboration aims to strengthen Ripple’s ecosystem and increase RLUSD adoption. It also seeks to leverage Busan’s blockchain-friendly economic zone in South Korea, where authorities are promoting digital asset projects.

Ripple recently said the XRP Ledger network will introduce more compliance functions and lending features. The network already supports clawback functions, which allow issuers to reclaim tokens linked to illicit activity, and decentralized identity tests designed to enhance user verification.

XRPUSD, H1 Chart, Source: TradingView
XRPUSD, H1 Chart, Source: TradingView

XRPUSD Consolidates Between 2.32300 and 2.16000

The XRPUSD H1 chart shows the price caught between the levels of 2.32300 and 2.16000, with both levels acting as key determining factors for intraday price action. A breakout above 2.32300 could push the price higher, signaling a potential upside move.

Conversely, a bearish breakout below 2.16000 may extend the downside momentum that has been observed over the past few days. These levels are crucial in determining the next direction for XRPUSD on the intraday charts.

Source: Finance Magnates