XRP Surges 8.46% as Ripple Partners With BNY Mellon for RLUSD Stablecoin Custody

XRPUSDT has experienced a notable price increase of 8.46% over the last 24 hours, rising from a 24-hour open of 2.4411 to a current price of 2.6475 on Binance. This price surge is primarily attributed to Ripple's recent partnership announcement with BNY Mellon, which will serve as the custodian for the reserves backing Ripple's new US dollar-pegged stablecoin, RLUSD. The collaboration with a major traditional financial institution has generated renewed optimism in the market, driving both price and trading activity higher. Additionally, discussions about a potential XRP ETF and ongoing legal developments involving Ripple and the SEC have contributed to heightened interest and volatility.

XRP currently trades at 2.6475 with a 24-hour trading volume between $6.50 billion and $7.78 billion, and a market capitalization estimated between $152 billion and $155 billion, reflecting strong market engagement and positioning XRP among the top cryptocurrencies by market cap.