TLDR:
- BDACS launches regulated XRP custody, linking to Korea’s top exchanges for institutional access.
- XRP price hovers near $2.96, a crucial Fibonacci support zone for bullish momentum.
- RSI hints at bullish divergence, suggesting buyers may defend support in the near term.
- Failure to hold $2.96 risks deeper pullback before XRP’s recovery path can resume.
XRP is at a make-or-break point. Price has slipped back to a key level traders say could decide its next move. While the market holds its breath, a major development is unfolding in South Korea.
Regulated custodian BDACS has rolled out XRP custody support for institutions. This mix of technical pressure and new institutional demand is shaping a pivotal moment for XRP.
XRP Price Holds the Line
Crypto analyst CasiTrades pointed to $2.96 as a critical support zone. It aligns with the .382 Fibonacci retracement, not just on short-term charts but across the broader market structure.
They noted that holding this level would keep the bullish trend intact. A breakdown, however, could flip momentum and force traders to rethink their positions.
Market data from CoinGecko shows XRP trading at $2.93, down 3.62% in 24 hours and 6.73% for the week. RSI readings hint at a possible bullish divergence on smaller timeframes, suggesting buyers are quietly defending this area.
BDACS Expands Institutional Access
Meanwhile, BDACS has made a strategic move for institutional investors. The regulated custodian announced XRP support, adding to its integrations with major Korean exchanges Upbit, Coinone, and Korbit.
XRP is now live on BDACS!
We’re thrilled to offer custody support for #XRP, one of the most popular digital assets in #Korea, to our institutional clients. This launch strengthens our long-standing partnership with #Ripple and underscores our commitment to the Korean market.… pic.twitter.com/j8IKSBr7W7
— BDACS (@BDACSKorea) August 5, 2025
According to BDACS, this step strengthens its partnership with Ripple and creates new pathways for compliant trading in Korea. Industry watchers say it also reflects growing institutional interest in digital assets within one of the world’s most active crypto markets.
Demand Meets Decision Point
Crypto commentator John Squire highlighted that XRP’s footprint is expanding globally, and institutional demand is rising. The BDACS launch gives large investors a secure, regulated way to hold and deploy XRP across Korea’s biggest venues.
🚨 JUST IN: 🇰🇷 South Korea’s BDACS, a regulated institutional-grade digital asset custodian, will now offer custody support for $XRP. 🔐🪙
Institutional demand is growing and so is XRP’s global footprint. 🌍📈 pic.twitter.com/NpKSGRSHyV
— John Squire (@TheCryptoSquire) August 6, 2025
For traders, though, price remains the focus. $2.96 is now the battleground. If buyers hold the line, XRP’s recovery could stay on track. If not, the market may face a deeper pullback before the next move higher.
The combination of fresh custody access and a decisive price level sets up a tense moment for XRP. Traders are watching price charts. Institutions are watching custody rails. Both forces now meet at $2.96.
