Ripple Expands Institutional Services Amid XRP Price Dip

Ripple has significantly expanded its institutional services this past week, including Standard Chartered offering custody for its stablecoin, RLUSD, through its Dubai branch. Standard Chartered is also exploring using RLUSD as collateral for institutional trading products in partnership with Ripple and LMAX Group.

Further bolstering its Wall Street presence, Ripple launched 24/7 real-world asset perpetual swaps on its prime brokerage platform, granting institutional clients access to over 100 traditional asset markets. Additionally, Cross River Bank announced plans to integrate RLUSD and XRP Ledger settlement into its banking infrastructure, simplifying cross-border payments and treasury management for businesses.

These developments coincide with Evernorth Holdings, a company holding approximately 473 million XRP in its treasury, making its Nasdaq debut under the XRPN ticker. Evernorth has named Ripple, Coinbase, Kraken, and BitGo as key partners for deploying its XRP treasury into institutional investment strategies.

Despite these substantial advances in institutional adoption and infrastructure, Ripple's native asset, XRP, has struggled to gain traction. The token experienced a notable price decline throughout the week, hitting a monthly low amid broader market corrections, failing to capitalize on the positive business development news. Analysts are closely monitoring support and resistance levels for potential shifts in XRP's price trajectory.