In a strategic development announced Monday, Ripple has entered into a partnership with blockchain infrastructure provider Figment to incorporate staking options for Ethereum (ETH) and Solana (SOL) within Ripple Custody. This advancement allows banks to present customers with staking opportunities on these prominent cryptocurrencies without the necessity of managing validator nodes or running dedicated blockchain infrastructure.
Staking, a process involving locking up specific cryptocurrencies to support blockchain network functionality, typically yields annual returns in the 3% to 4% range. By leveraging Figment's infrastructure, Ripple Custody now empowers its institutional clients to facilitate these rewards for users holding ETH and SOL tokens, expanding their service offerings beyond the traditional XRP ecosystem.
Alongside this collaboration, Ripple has also implemented a partnership with Securosys to enhance cryptographic key management. Securosys provides a secure key storage solution that enables institutions to maintain direct control over their digital assets without investing in costly hardware setups. These secure systems are adaptable to both on-premises data centers and cloud-based environments, catering to varied institutional security preferences.
This string of integrations complements Ripple’s earlier acquisitions and system augmentations. The fintech firm recently absorbed Palisade, a trailblazer in wallet technology, reinforcing Ripple's custody capabilities. Additionally, the adoption of Chainalysis' transaction screening tools bolsters compliance protocols by thoroughly vetting asset transfers before execution. These measures collectively strive to reduce operational friction and foster confidence in deploying compliant crypto services at scale.
Ripple’s expansion into Ethereum and Solana staking signifies a deliberate repositioning as a provider of comprehensive, multi-chain infrastructure solutions rather than an exclusive focus on XRP. According to Aaron Slettehaugh, Senior Vice President of Product at Ripple, these technical integrations ease the complexities associated with handling multiple blockchain protocols, enabling banks to accelerate deployment timelines and reliably scale their crypto offerings.
From a market performance perspective, XRP currently exhibits technical vulnerabilities. It remains confined within a descending price channel characterized by fragile consolidation phases. The Supertrend indicator stands at $1.7418, signaling a bearish trend that sits well above the current trading levels. Simultaneously, the Parabolic SAR is positioned at $1.1266, representing critical short-term support for XRP.
The immediate risk for XRP traders lies in its proximity to recent lows near $1.18 to $1.20, roughly 20% below present prices. Should the Parabolic SAR at $1.1266 be breached, there could be an accelerated selloff pushing XRP toward the psychologically significant $1 mark. Resistance levels are noted around $1.50 to $1.55, with further technical barriers at the Supertrend level of $1.74 and prior consolidation points near $1.95. Market momentum remains weak, casting doubt on XRP's ability to reclaim $1.74 and stabilize in the near term.