XRP Eyes $2.60 After Strong Bounce From $2 Support
XRP rebounds from the $2 support level, signaling a potential push toward $2.60, says analyst Ali Martinez, as traders monitor key technical thresholds amid heightened volatility.
Martinez notes that $2 has historically been a key support for XRP, a critical psychological and technical anchor. Holding this level stabilized the coin after a sharp sell-off, setting the stage for a recovery toward the next target at $2.60, the midpoint of the descending channel that has shaped recent price action with the present price being $2.16.
Trading volumes are rising, signaling renewed investor interest. Martinez notes that XRP’s push toward $2.60 hinges on holding the crucial $2 support, any breach could derail the rally and expose the crypto to further declines.
Additionally, institutional interest is shaping XRP’s path. Recent ETF launches from Franklin Templeton, Canary, and Grayscale have made it easier for professional investors to enter the market, adding potential support.
As market analysts note, institutional participation often amplifies technical signals—and current conditions are drawing that attention.
Therefore, XRP’s rebound from $2 signals cautious optimism. Holding this key support could push the digital asset toward the $2.60 midpoint, offering a near-term target while underscoring disciplined risk management.
Standard Chartered Becomes Digital Asset Custodian for 21Shares, Strengthening Institutional Crypto Access
Standard Chartered is now the digital asset custodian for 21Shares, bolstering the crypto ETP issuer’s institutional offerings with enhanced security, diversification, and reliability for professional investors.
Leveraging Standard Chartered’s global expertise and robust risk management, 21Shares strengthens trust and security for institutional clients. This partnership enables 21Shares to expand its crypto offerings and investment strategies, providing access to a broader range of assets within a secure, regulated framework tailored for institutional investors.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, welcomed the partnership, saying:
Well, this partnership underscores institutional demand for regulated, transparent, and efficient access to digital assets. Standard Chartered’s involvement assures investors of robust governance, compliance, and operational security in the evolving crypto market.
Through this partnership, 21Shares will leverage Standard Chartered’s Luxembourg-based digital asset custody service, registered with the Commission de Surveillance du Secteur Financier (CSSF).
The platform ensures full compliance with European regulations, providing a secure, reliable solution for institutional investors engaging in crypto products.
Furthermore, the appointment of Standard Chartered as custodian enhances 21Shares’ institutional offering, reinforcing its diverse crypto ETPs, advanced risk management, and regulatory compliance.
For Standard Chartered, the partnership signals its commitment to expanding in the digital asset space, delivering secure, regulated solutions that meet the growing needs of professional investors worldwide.
Conclusion
XRP’s bounce from the $2 support level hints at a short-term rally toward $2.60, presenting a clear near-term target for traders. Holding this key support is crucial, as a breakdown could reverse gains.
With technical signals and growing institutional interest aligning, XRP’s next move may shape its performance in the coming weeks, underscoring the need for careful monitoring and disciplined strategy.
On the other hand, the 21Shares–Standard Chartered partnership marks a milestone in bridging traditional finance and digital assets.
By pairing 21Shares’ innovative crypto products with Standard Chartered’s trusted custody and regulatory expertise, institutional investors gain secure, compliant, and efficient access to the digital asset market, boosting confidence and accelerating mainstream adoption of institutional-grade crypto solutions.
Source: https://coinpaper.com/12684/bounce-to-breakout-xrp-eyes-2-60-after-channel-low-as-standard-chartered-wins-21-shares-digital-asset-role
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