XRP recovered from the $1.32 support level amid news of Standard Chartered's involvement in the RLUSD custody agreement.
The agreement between Ripple and trading company LMAX Group, announced on Monday, will allow LMAX's institutional clients to place Ripple USD in Standard Chartered, adding banking custody capabilities to their stablecoin operations.
Standard Chartered's Head of Digital Assets, Waqar Chaudry, said that clients want access to digital asset markets while maintaining familiar standards of fund protection. According to him, combining the bank's capabilities with Ripple and LMAX will help institutions integrate digital assets into broader financial activities.
The agreement concerns the custody of RLUSD. Its significance for XRP depends on whether the ecosystem's growth translates into demand for the token itself. RLUSD's capitalization reached approximately $2.4 billion according to RWA xyz. Ripple has also obtained licenses in key jurisdictions to support payments and financial services with stablecoin settlements.
According to SoSoValue, ETFs linked to XRP attracted about $12 million in net inflows this month. If the pace continues, October inflows could be below $30 million – roughly 75% less than in September. The forecast depends on flows through the end of the month, but current figures indicate greater caution among institutional investors amid XRP's pullback.
The latest rebound confirmed $1.32 as an important short-term support level: the 200-day exponential moving average is nearby. Further decline could bring $1.28 into focus – analysts consider it the last support for the recovery scenario. A sustained break below could open the way to $1. The Relative Strength Index has dropped to about 40, indicating weak momentum, but it does not in itself confirm either exhaustion of selling or an imminent rebound.
If $1.28 holds, XRP's target for the coming weeks is $1.80, and with increased buying momentum, $2.10. These levels remain conditional forecasts.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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