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XRP is looking to achieve a record high after the partnership between Ripple and the Spanish bank BBVA.

- XRP is approaching a breakout above its all-time high of $3.66 after regaining support at $3.00 on Tuesday.
- Ripple has partnered with the Spanish bank BBVA in the field of digital asset custody technology.
The agreement follows BBVA's decision to offer trading and custody services for Bitcoin and Ether.
- XRP is witnessing a slight upward trend during the day, having traded briefly above $3.00 before a minor correction to $2.96 on Tuesday. This upward trend reflects a bullish wave breaking through the wider cryptocurrency market, with BTC trading briefly above $113,000, while ETH is nearing a breakout of the resistance level at $4,400.

- Collaboration between Ripple and BBVA in Bitcoin and Ethereum custody service
Ripple and the Spanish bank BBVA have signed a partnership agreement that enables the financial institution to offer digital asset custody services. BBVA will use Ripple Custody technology, which is an institutional-grade digital self-custody solution, to provide secure and scalable custody services for tokenized assets, including leading cryptocurrencies such as Bitcoin and Ethereum.

This step follows the implementation of the regulatory framework for the cryptocurrency market in the European Union (MiCA) and the increasing demand from customers for digital asset services.

BBVA Bank recently launched its services for trading and storing Bitcoin and Ethereum, targeting retail customers in Spain. Customers can now have direct access to Bitcoin and Ethereum, supported by digital custody services, within an integrated environment.

Gonzalo Rodriguez, head of retail banking at BBVA Spain, said at the time: "We want to make it easier for our individual customers in Spain to invest in crypto assets, through a simple and accessible digital solution on their mobile phones."

Ripple Custody is gaining momentum as an enterprise-level digital custody technology, ensuring access to cryptocurrencies and other digital assets while complying with stringent security, operational, and regulatory requirements across various jurisdictions.

Francisco Maroto, Head of Digital Assets at BBVA, said: "Ripple's custody solution allows us to leverage proven and reliable technology that meets the highest standards of security and operation, enabling BBVA to provide comprehensive custody service directly to its clients."

- Technical Forecast: XRP is about to break out
The price of Ripple remains above the 50-day exponential moving average (EMA) at $2.91, after briefly breaking above the resistance level at $3.00. Its short-term technical structure is bullish, supported by a buy signal from the Moving Average Convergence Divergence indicator (MACD) since Monday.

Traders expect a daily close above the downward trend line on the daily chart below, which would confirm the bullish outlook for XRP.

Attached is the daily chart for the XRP/USDT pair.

The Relative Strength Index (RSI), which is settling at 52, indicates a relatively neutral demand for XRP. Continued movement towards the overbought zone will increase buying pressure. However, if the Relative Strength Index falls below the midpoint, the path of lesser resistance may tilt downward, prompting traders to focus on the 100-day Exponential Moving Average support at $2.78 and the 200-day Exponential Moving Average at $2.53.