XRP Surges 4.556% as Ripple Partners with BNY Mellon

XRP's latest price was $2.41, up 4.556% in the last 24 hours. This surge in value comes at a time when Ripple, the company behind XRP, is making significant strides in the cryptocurrency landscape. One of the most notable developments is the selection of BNY Mellon as the custodian for the reserves backing Ripple's stablecoin, Ripple USD. This partnership, finalized on July 9, 2025, is a strategic move that positions BNY Mellon to safeguard the assets underpinning the stablecoin. The stablecoin is described as an enterprise-grade solution designed with regulatory compliance in mind, highlighting Ripple's commitment to integrating established financial institutions within the digital asset ecosystem.

In addition to this institutional strategy, Ripple CEO Brad Garlinghouse appeared before the U.S. Senate on July 9, 2025. His testimony before the Senate Banking Committee was viewed as a potentially significant moment for the company and the XRP token. This appearance comes at a time when Ripple is facing regulatory scrutiny, and Garlinghouse's testimony is expected to provide insights into the company's stance on regulatory compliance and its vision for the future of digital assets. The strategic developments within the firm, coupled with Garlinghouse's testimony, are seen as pivotal moments that could shape the trajectory of XRP and the broader cryptocurrency market.