Ripple Labs has filed a trademark application for the word mark “Ripple Custody.” The filing suggests that the company behind XRP may be looking to expand into the crypto custody sector, Cointelegraph reported.

Meanwhile, the XRPUSD H1 chart indicates that the cryptocurrency is trading between two horizontal levels. At the moment, the support level remains intact, and intraday buyers may attempt to drive the price toward the resistance.

Ripple Considers Crypto Custody Amid ETF Growth

The trademark application lists four potential use cases. One of them states: “Financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency […] for financial management purposes.”

Crypto custody services help individuals and institutions store and manage digital assets. These services aim to reduce risks such as private key loss and security breaches. The demand for custody solutions has increased, particularly after the approval of US-based exchange-traded funds (ETFs) in 2024. Companies in this space include Coinbase, Citi, and BNY Mellon.

Ripple introduced its custody service in October 2024. The company said at the time that the move was part of a strategy to generate revenue beyond its payment settlement operations. A Ripple spokesperson declined to comment on the trademark filing.

Possible Crypto Wallet Development

The filing also references software related to custody services. One section describes “downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency.” It also includes software for “transmission and storage” of these assets.

This wording suggests that Ripple may be considering a cryptocurrency wallet. Such a product could support XRP or a broader range of digital assets. The company does not currently offer a wallet. If introduced, it could provide a new revenue stream through transaction fees. Other companies already supporting XRP include Ledger, Trezor, Trust Wallet, and Exodus.

XRP Holds Support After Brief Breach

The XRPUSD H1 chart shows the price moving within the 2.37350-2.27000 range. After facing rejection at the 2.37350 resistance for the third time, the price dropped toward the support.

It briefly breached the 2.27000 support level, but the next candle quickly recovered above it. As a result, this is not considered a breakout, which may encourage buyers to push the price higher.

Ripple’s XRP Adoption Grows Amid Regulatory and Investment Moves

Ripple has been in the spotlight since CEO Garlinghouse and CLO Alderoty met President-elect Trump on January 6, sparking speculation about the ongoing SEC lawsuit, filed in December 2020, accusing Ripple of selling XRP as unregistered securities.

Michael Saylor, Executive Chairman of Strategy, recently discussed the role of cryptocurrencies in the US strategic reserves following an executive order by President Trump. This order listed Bitcoin and several altcoins, including Ethereum, XRP, Solana, and Cardano. In an interview with Fox Business, Saylor addressed the regulation of digital assets and proposed that XRP should be issued within a regulatory framework.

The company has expanded its reach by partnering with Revolut and Zero Hash to offer RLUSD, positioning it as a competitor to USDT and USDC. In Portugal, Ripple is collaborating with Unicâmbio to facilitate instant payments between Portugal and Brazil using digital assets.

Ripple’s Custody service will be used by South Korea’s BDACS to secure XRP and RLUSD, a stablecoin pegged to the dollar, aimed at providing secure storage for institutional clients. Additionally, Ripple donated $100,000 in XRP to support California wildfire victims, with contributions to organizations like World Central Kitchen and GiveDirectly through The Giving Block.

In Japan, Ripple anticipates the adoption of XRP Ledger by banks by 2025 to enhance cross-border payments. The company is also working with Chainlink to integrate RLUSD into Ethereum-based decentralized finance (DeFi) applications. Meanwhile, investor interest in XRP remains strong, with large investors acquiring 520 million tokens during a recent dip. The SEC’s reassignment of Jorge Tenreiro has raised questions about the agency’s future stance on cryptocurrency litigation.

This article was written by Tareq Sikder at www.financemagnates.com.TrendingRead More

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