Ripple has solidified its presence in the Turkish cryptocurrency market by extending its custody partnership with Garanti BBVA. This collaboration allows Garanti BBVA to offer retail customers secure custody and transfer services for various cryptocurrencies, including XRP, Bitcoin, and Ethereum. Analysts are optimistic about the potential for XRP to rally towards $2.50, contingent upon breaking through the critical $2.00 resistance level.
Reece Merrick, Ripple”s Managing Director for the Middle East and Africa, shared the news of the partnership extension via social media platform X (formerly Twitter). This renewed commitment follows a successful pilot program launched in late 2024, which attracted approximately 14,000 early adopters. The partnership is designed to enhance Garanti BBVA”s capabilities in managing digital assets securely.
Beyond this significant partnership, Ripple has also achieved a regulatory milestone by obtaining a “Green Light Letter” from Luxembourg”s Commission de Surveillance du Secteur Financier (CSSF). This letter signifies preliminary approval for an Electronic Money Institution (EMI) license, although final authorization is still pending. This development adds to Ripple”s growing regulatory portfolio, now totaling over 75 licenses worldwide.
On the technical front, XRP is currently trading around $1.95 and has formed a W-pattern near the $1.88–$1.90 support zone. This pattern suggests a potential bullish reversal, particularly if the price can breach the immediate resistance between $1.98 and $2.00. A decisive close above this range would confirm the breakout from the falling wedge formation, indicating a strong buying interest.
If XRP successfully surpasses the $2.00 resistance level, analysts forecast potential upward targets ranging from $2.10 to $2.20. Further momentum could propel the price towards the $2.35–$2.40 area, with some projections optimistically suggesting a move towards $2.50. However, traders are advised to stay vigilant regarding possible downside risks. A failure to break above $2.00 could result in a retracement towards the lower $1.80 range.
While XRP garners attention for its potential breakout, the cryptocurrency space is also witnessing interest in other projects. For instance, Bitcoin Hyper has raised $30 million for its innovative Layer 2 solution for Bitcoin, leveraging Solana-based technology. This project aims to combine speed and scalability while maintaining the security of the Bitcoin network. The presale for $HYPER tokens, currently available at $0.013625, showcases strong market demand as developers look to build Bitcoin-native decentralized applications.
