The renowned Spanish banking firm BBVA has joined the long list of domain partners as institutional adoption continues to grow.
According to a recent report today, Ripple has extended its custody footprint throughout the European banking industry after signing a new association with Banco Bilbao Vizcaya Argentaria (BBVA).
With this association, Ripple has not only expanded its ecosystem and has promoted XRP for a greater increase, but has also positioned BBVA customers for a safe and exclusive cryptographic trade experience.
Marking one of the main Ripple associations focused on fostering its adoption among the main institutions around the world, the Association Agreement will see BBVA integrate the Ripple custody technology to support its retail crypto trade platform in Spain. With the help of Ripple, BBVA can now offer its customers a safe custody of Bitcoin and Ethereum.
What’s for XRP?
With the latest Ripple association coinciding with an epic change in the feelings of investors throughout the cryptography market today, has caused reactions and caused new debates among market participants.
After Ripple’s last association with the Spanish bank giant, the price of XRP was seen registering a sharp rise movement, bouncing above the key resistance levels. Therefore, market observers have expressed their curiosity as to whether Ripple’s recent commitment has obtained impulse for XRP, which leads to the increase in its price today.
The debate seems to have remained restless, since many believe that XRP had only increased in response to the broader market rally that saw other leading cryptocurrencies recovered above the previous maximums.
However, other commentators have suggested that XRP’s positive price development was stimulated by development, since high -profile associations, such as European banks, further validate Ripple’s technological advantage. This indirectly affects XRP market performance, positioning it for long -term adoption among institutions.
While the debate on the relationship between Ripple’s custody solutions and the XRP market potential has continued to persist, the pro-Crypto Bill Morgan lawyer has recently led to X to clarify the connection between Ripple’s third parties collaborations and XRP market prospects.
The lawyer stressed dismissing rumors that Stablecoin backed by the US dollar of Ripple, Rlusd plays the main role in the external payments required for the institutional commitments of Ripple.
Morgan stressed that most domain payments involve the use of XRP, not rlusd. While this can only mean a greater demand for XRP among retailers and institutions, the main role of key wave associations such as this can play in XRP price dynamics.