XRP News Today: XRP Hovers Near $3.09 as South Korea's BDACS Drives Institutional Adoption

XRP is currently hovering near critical price thresholds, with a potential breakout above $3.09 seen as a pivotal moment for the asset. This development comes amid a surge in institutional demand, particularly in South Korea, where the launch of BDACS—a government-backed blockchain infrastructure initiative—has marked a significant step forward in institutional-grade digital asset adoption [1]. The initiative, a collaboration between Ripple and local regulatory authorities, aims to establish a secure and compliant environment for institutional investors to engage with XRP and other digital assets.

The price of XRP has remained rangebound in recent weeks, fluctuating between key support and resistance levels. Analysts have noted that the asset remains under pressure below $3.02, with a potential decline toward $2.91, and further downward movement could extend to $2.78, $2.60, or even $2.45 [1]. Conversely, a sustained breakout above $3.09 is expected to trigger bullish momentum, with targets at $3.40, $3.70, and potentially $3.85. Traders are closely monitoring these levels, with the $2.91 threshold viewed as a crucial short-term support line that must hold to prevent a deeper correction [1].

BDACS’ institutional custody services for XRP represent a critical development in South Korea’s digital asset ecosystem. The platform, built in partnership with Ripple, provides secure and regulated storage, management, and deployment of XRP for banks, funds, and asset managers. This system is aligned with the Financial Services Commission’s regulatory framework, addressing key institutional concerns around compliance and risk [1]. The service also enables seamless integration with major Korean exchanges like Upbit, Coinone, and Korbit, allowing for greater liquidity and transparency in institutional trading activity.

The introduction of regulated custody solutions is expected to lower barriers to entry for institutional investors, who previously faced fragmented options and insufficient infrastructure. With South Korea already among the most crypto-engaged markets globally, the enhanced institutional support could drive further adoption and long-term stability for XRP [1]. Additionally, the broader tokenization trend—projected to represent up to 10% of global GDP—suggests that digital assets like XRP are well-positioned to play a central role in the future financial infrastructure.

From a technical perspective, XRP faces resistance between $3.10 and $3.20, as well as a descending price channel that has historically limited upside movement. However, the recent surge in institutional demand and the launch of BDACS could provide the catalyst needed to break through these levels. If the price successfully clears $3.09 and sustains that level, it may attract further buying interest from both retail and institutional participants, potentially accelerating XRP’s path toward broader adoption.

The ripple effect of BDACS extends beyond XRP, with Ripple’s U.S. dollar-backed stablecoin RLUSD also now accessible through the platform. This development reinforces South Korea’s position as a leading market for blockchain innovation and sets a precedent for other countries seeking to integrate digital assets into mainstream financial systems. As global interest in institutional-grade digital infrastructure continues to grow, South Korea’s proactive approach may serve as a model for regulatory frameworks worldwide.

Source: [1] XRP Eyes Breakout Above $3.09 as South Korea’s BDACS ... (https://cryptopanic.com/news/23996975/XRP-Eyes-Breakout-Above-309-as-South-Koreas-BDACS-Supercharges-Institutional-Adoption)