XRP Rebounds From $1.32 as Standard Chartered Adds RLUSD Custody Support
XRP recovered from the $1.32 level as investors assessed a new institutional custody arrangement involving Standard Chartered, Ripple and LMAX Group. Announced Monday, the agreement would allow LMAX customers to hold Ripple USD (RLUSD) through Standard Chartered, expanding banking support for the stablecoin while XRP faces weaker exchange-traded fund inflows and uncertain technical momentum.
Standard Chartered Expands Institutional RLUSD Custody
The arrangement is designed to give institutional clients additional options for safeguarding RLUSD and managing digital asset-related risks. Standard Chartered's Global Head of Digital Assets, Waqar Chaudry, said clients want access to digital asset markets while maintaining established standards for asset protection.
Chaudry added that combining the bank's capabilities with those of Ripple and LMAX could help institutions integrate digital assets into their wider financial activities.
The agreement specifically covers custody of RLUSD. Its direct effect on XRP demand remains uncertain because increased use of Ripple's stablecoin does not necessarily translate into additional purchases of the XRP token.
RLUSD Growth and XRP ETF Inflows Diverge
RLUSD has reached approximately $2.4 billion in market capitalization, according to figures from RWA.xyz. Ripple has also pursued licenses in key jurisdictions to support payments and other financial services that use the stablecoin for settlement.
The Standard Chartered arrangement adds another institutional connection to Ripple's broader expansion efforts. Greater RLUSD adoption could support activity across the XRP Ledger and create additional opportunities for payments and financial applications, although the extent of any resulting demand for XRP remains unclear.
Meanwhile, investment flows into XRP-linked exchange-traded funds have weakened. Data from SoSoValue shows approximately $12 million in net inflows so far this month.
If the current pace continues, October's total could fall below $30 million, approximately 75% lower than September's figure. That estimate depends on flows during the remainder of the month, but the figures so far point to more cautious institutional investment during XRP's price pullback.
XRP Price Outlook: $1.28 Support in Focus
XRP's rebound has reinforced $1.32 as a near-term support area, with the 200-day exponential moving average reportedly positioned around that level. A renewed decline could bring $1.28 into focus as the next important price threshold.
The analysis identifies $1.28 as a key level for maintaining the recovery outlook. A sustained break below it could expose XRP to a further decline toward $1.
The Relative Strength Index has fallen to around 40, signaling weak momentum. However, that reading alone does not establish that selling pressure has ended or that a sustained recovery is imminent.
If XRP holds above $1.28, the cited outlook places a potential upside target at $1.80 over the coming weeks. A move toward $2.10 is also possible under that scenario if buying momentum strengthens. Both targets remain conditional forecasts rather than confirmed price outcomes.
data source: coinjournal.net
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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