Maker

Bank AI

David

Trillion

<a href="https://bitcoinist.com/ripple-sec-spot-xrp-etf/">Ripple</a>, a cryptocurrency payments network, is diving into the crypto custody sector, aiming to effectively take advantage of a multi-trillion dollar market. This move is significant as it could potentially trigger renewed <a href="https://www.newsbtc.com/analysis/xrp/xrp-bull-run-bull-flag-formed/" rel="nofollow noopener" target="_blank">bullish momentum</a> for the XRP price.&nbsp; 
<h2 id="ripple-enters-crypto-custody-market">Ripple Enters Crypto Custody Market</h2> 
In a YouTube interview with Tony Edward, the founder and host of the popular crypto channel, Thinking Crypto, Ripple’s Chief Technology Officer (CTO), David Schwartz, <a href="https://x.com/thinkingcrypto1/status/1750266136329879661?s=46" rel="nofollow" target="_blank">discussed</a> various topics and developments concerning the Ripple ecosystem.&nbsp; 
The podcast covered a range of subjects from Ripple’s XRP Ledger and its <a href="https://bitcoinist.com/ripple-cto-breaks-down-the-amm-feature/">Automated Market Maker (AMM)</a> to insights on Central Bank Digital Currencies (<a href="https://www.newsbtc.com/news/ripple/ripple-head-of-policy-calls-for-uk-to-join-global-trend-of-cbdc-adoption/" rel="nofollow noopener" target="_blank">CBDCs</a>) and <a href="https://bitcoinist.com/stablecoins-record-4-billion-inflows-means-bitcoin/">stablecoins</a>. Notably, the spotlight was on Ripple’s recent entry into the crypto custody market. 
In 2023, Ripple achieved a significant milestone by securing a partnership with <a href="https://bitcoinist.com/hsbc-blockchain-platform-change-gold-trading-game/">HSBC</a> after <a href="https://www.newsbtc.com/news/ripple/ripple-acquires-crypto-custody-firm-metaco-in-250-million-deal/" rel="nofollow noopener" target="_blank">acquiring Metaco</a>, a blockchain and cryptocurrency firm specializing in digital asset custody and tokenization. Referring to these key achievements, Edward raised the question of whether HSBC intends to utilize the <a href="https://bitcoinist.com/xrp-ledger-major-milestone/">XRP Ledger </a>or the Ripple network. 
Schwartz responded that Ripple has always been working towards acquiring a secure custody solution, aligning with its goals to serve as a “one-stop shop for institutional adoption of crypto.” He added that the custody solution would help facilitate Ripple’s ambition to create a platform that would provide access to the XRP Ledger, <a href="https://bitcoinist.com/ripple-cto-on-how-the-xrp-ledger-is-powering-asset-tokenization/">advanced tokenization</a>, and prepayments.&nbsp; 
The Ripple CTO revealed that after searching for various options for custody solutions, Metaco and HSBC emerged as the most suitable choices for the <a href="https://bitcoinist.com/ripple-us-banks-xrp-payments/">Ripple network</a>. He stressed the importance of Ripple’s movement into the custody sector, emphasizing the market’s substantial value, which is set to reach $10 trillion by 2030.&nbsp; 
“By adding custody, that’s going to make Ripple the leading enterprise solution provider in the space and I am so super excited about that,” Schwartz said.&nbsp; 
<h2 id="xrp-sees-bullish-prospects-with-ripple-s-expansion-into-new-markets">XRP Sees Bullish Prospects With Ripple’s Expansion Into New Markets</h2> 
Ripple’s decision to expand into the crypto custody market could have a positive impact on XRP’s price, which has been struggling to rally recently. Presently, the price of XRP is trading at $0.51, reflecting a prolonged period of price stagnation. The cryptocurrency has had a slow recovery due to ongoing <a href="https://bitcoinist.com/xrp-lawsuit-ripple-motion-correct-sec/">regulatory and legal challenges</a> with the United States Securities and Exchange Commission (SEC).&nbsp; 
The move into a multi-trillion dollar market would broaden Ripple’s global footprint, attracting new investors and traders and potentially fuelling XRP’s upward trajectory.&nbsp; 
Including the custody market, Ripple is also set to expand into other innovative markets, including the Information Technology (<a href="https://bitcoinist.com/ripple-targets-it-services-industry/">IT</a>) industry, the <a href="https://bitcoinist.com/ripple-sets-sights-on-300trillion-payment-sector/">global payments sector</a> and <a href="https://www.newsbtc.com/news/ripple/ripple-eyes-tokenized-assets-sector/" rel="nofollow noopener" target="_blank">tokenized asset sector.</a> These diverse markets are expected to positively impact Ripple’s ecosystem and possibly change the price dynamics of XRP in the future. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/RJCeNf1s/" alt="XRP price chart from Tradingview.com (Ripple)" width="3266" height="1530">

Bullish News For XRP: Ripple Enters New $10 Trillion Sector With Two Mega Deals

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