Forecast: XRP Price to Retake $0.60 as Traders React to Ripple’s Latest Security Upgrade…

These updates aim to solidify Ripple’s position in the institutional crypto space, providing vital security and compliance features for asset management.

The new features include integration with a transaction screening service, expanded hardware security module (HSM) options, and tokenization capabilities through the XRP Ledger (XRPL). These upgrades position Ripple Custody as a critical infrastructure solution for businesses looking to tokenize and manage assets securely.

Key highlights of the update include:

• Tokenization of various assets and secure transfers within the Ripple ecosystem.
• Integration into XRPL’s decentralized exchange, facilitating low-fee trading of any tokenized asset and opening new liquidity opportunities.
• AWS CloudHSM support, enabling customers to deploy HSM on their preferred cloud provider.
• Integration with Elliptic for real-time transaction screening, helping businesses meet compliance standards.

Ripple Custody’s expanded offerings address the growing demand for secure, compliant digital asset storage solutions. It offers the necessary tools for businesses to tokenize assets, including cryptocurrencies, fiat currencies, and real-world assets (RWAs) like property and commodities.

Ripple’s Announcement Sees XRP Resist Market Downtrend

Ripple’s announcement was well-received by investors. On October 11, XRP managed to outperform the broader crypto market, showing signs of a mild rally. The XRP/USD daily chart indicates that XRP had consolidated below the $0.52 level for most of the week. Despite ongoing legal tensions between Ripple and the U.S. SEC, XRP managed to climb back to $0.54.