Ripple Price Forecast: XRP Defends 50-day EMA as Standard Chartered launches RLUSD custody
- XRP holds firmly above $1.40, reinforced by the 50-day EMA.
- Standard Chartered launches custody services for RLUSD stablecoin on the XRP Ledger, expanding the bank’s crypto services.
- XRP spot ETFs log 13 consecutive weeks of inflows despite weakening technical structure.
Ripple (XRP) is coming under intense selling pressure, trading around $1.40 on Monday. The remittance token appears to lack the required tailwind to sustain its recovery, while broader crypto market headwinds weigh on price action.
A daily close above $1.40 could encourage buyers to take on more risk. However, it is too early to rule out another sharp decline below the same level, which could further weaken XRP’s technical outlook.
Standard Chartered adds RLUSD custody support
Standard Chartered Bank has reportedly launched institutional custody for RippleUSD (RLUSD), Ripple’s $2.4 billion stablecoin on the XRP Ledger (XRPL). A report published by The Block confirmed that RLUSD was live and accessible through Standard Chartered’s Dubai International Financial Center (DIFC) branch. The product, which expands the bank’s crypto-related services, is regulated by the Dubai Financial Services Authority.
Ripple, LMAX Group and Standard Chartered are also collaborating to enable the stablecoin to be used as eligible collateral for specific services LMAX offers. This development would allow RLUSD assets to be mirrored to LMAX Group for collateral purposes without moving the underlying asset to the trading platform. However, the RLUSD collateral product remains under review pending final documentation, testing, regulatory and internal approvals.
Standard Chartered’s Global Head of Digital Assets, Waqar Chaudry, said that integrating RLUSD would enable eligible institutional clients “to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed. The ecosystem must therefore make it easier for clients to hold assets securely, access liquidity and deploy collateral efficiently within trusted frameworks.”
Technical analysis: XRP consolidates as support holds
XRP trades above $1.40, maintaining a constructive near-term bias as price holds above a dense layer of moving-average support. The pair sits above the 50-day Exponential Moving Average (EMA) at $1.40, while the 200-day EMA at $1.38 and the 100-day EMA at $1.34 sit further below and reinforce the broader bullish structure.
The SuperTrend indicator at $1.30 underpins the medium-term uptrend, though a soft Relative Strength Index (RSI) around 45 and a negative Moving Average Convergence Divergence (MACD) line suggest upside momentum is subdued despite the supportive backdrop.
Initial support lies at the 50-day EMA near $1.40, with the 200-day EMA at $1.38 acting as the next cushion if sellers press lower. A deeper pullback would expose the 100-day EMA at $1.34 ahead of the SuperTrend line around $1.30, where buyers would be expected to defend the broader bullish trend.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs
An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
추천 기사
