Ripple (XRP) News Today September 10th

The past several days have been quite eventful for the company, its native token, and its stablecoin. In the following lines, we will touch upon the latest news surrounding them.

Partnerships and More

Earlier this week, Ripple announced it will provide its digital asset custody to the leading Spanish bank, BBVA. The partnership comes shortly after the banking institution launched its new crypto-asset trading and custody service, which offers Bitcoin (BTC) and Ether (ETH) to retail clients.

Ripple has a longstanding relationship with the financial giant, also providing its technology to Garanti BBVA in Turkey and BBVA Switzerland.

The crypto company also shed more details on its upcoming Ripple Swell 2025 event. The annual flagship conference will take place in New York City on November 4 – 5 and will bring together renowned industry specialists and XRP proponents. 

“From stablecoins and payments to regulation and real-world adoption, Swell brings together the conversations shaping the future of finance,” Ripple announced on its X account.

RLUSD Strengthens Its Global Presence 

Ripple’s stablecoin, dubbed RLUSD, continues to attract attention thanks to its constant advancements. Most recently, the USD-pegged product became available to institutions in Africa through three new partnerships with Chipper Cash, VALR, and Yellow Card.

RLUSD seems like an appropriate choice for a number of local enterprises since it facilitates instant settlement of cross-border payments. Additionally, the stablecoin is being used to underpin extreme weather event relief pilot projects led by Mercy Corps Ventures in Kenya.

One pilot employs RLUSD as insurance for farmers, with funds kept in escrow and automatically paid out via smart contracts when satellite data signals drought conditions. Another applies the token in a rainfall insurance model, providing comparable protection in case of a flood.

RLUSD saw the light of day at the end of 2024. Currently, it has a market capitalization of almost $730 million, which is significantly less than that of the sector leaders USDT and USDC. 

The stablecoin was also introduced as a payments tool for VivoPower’s electric-vehicle subsidiary, Tembo.

XRP Price Outlook

As of this writing, Ripple’s native token trades at around $3, representing a 5.5% increase on a weekly scale. The asset is often the subject of price predictions, with many analysts seeing room for further gains in the near future.

Among those is Ali Martinez, who claimed that XRP could spike to $3.60 if it manages to break out of its recent descending triangle pattern. 

Others like TRACER and XForceGlobal are even more optimistic, forecasting price explosions to $6 and $20, respectively.

The post Ripple (XRP) News Today September 10th appeared first on CryptoPotato.