Ripple Strengthens European Presence with BBVA Custody Partnership in Spain

• Ripple custody launch with BBVA boosts Spain clients digital access with compliance.
• XRP climbs above $3 again, with analysts watching resistance near $3.30 to $3.50 levels.

Ripple has expanded its long-standing relationship with Banco Bilbao Vizcaya Argentaria (BBVA), introducing a new custody solution in Spain. The banking group will now use Ripple Custody to allow clients to trade and store Bitcoin and Ethereum directly.

This move allows BBVA to add tokenized assets as well, helping the bank expand on a large scale while meeting strict European rules. With Spain’s retail customers now gaining access to institutional-grade infrastructure, Ripple has reinforced its foothold in the European financial sector.

Francisco Maroto, Head of Digital Assets at BBVA, said Ripple’s technology meets “the highest security and operational standards,” enabling the bank to give customers an end-to-end custody service underpinned by its reputation for stability.

Ripple and BBVA Reshape Digital Banking Services

Ripple and BBVA first teamed up in April 2017, when the Spanish bank tested cross-border transfers between Mexico and Spain using Ripple’s technology. That trial became the base for future progress of digital assets in Europe and beyond.

By 2021, BBVA’s Swiss arm deployed Metaco’s Harmonize platform, part of Ripple’s portfolio, to handle custody of digital assets. In 2024, the Turkish branch of BBVA collaborated with Ripple and IBM to boost security for its expanding digital asset services.

Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the role of Europe’s regulatory clarity, saying, 

XRP Gains Strength on Positive News

Following the custody announcement, XRP trading saw a sharp rise. The token jumped 3.15% to reach $3.02 and crossed above the $3.00 mark again after three straight days of growth. Traders linked this trend to fresh optimism, as the chances of the Federal Reserve cutting interest rates are now close to 99%.

From Sunday’s low, XRP rebounded by over 7%. The cryptocurrency’s market capitalization reached around $178 billion with a 24-hour volume of $6.81 billion. With 59.61 billion tokens in circulation out of a possible 100 billion, XRP holds its spot as the world’s third-largest digital asset.

Analysts pointed to $2.99–$3.00 as a new support area following multiple rejections earlier in the week. Strong resistance is expected around $3.30–$3.50. If momentum weakens, buyers may need to protect the $2.88 to $2.89 range, where demand has supported the market before.

Adding to that, six XRP exchange-traded fund (ETF) applications are under review by the US SEC, with decisions expected in October, according to a recent CNF update.