Banking Sector Deepens Involvement with Ripple's XRP

XRP is now a top 5 crypto for bank exposure per BIS data, signaling institutional adoption despite price pressure from a key resistance zone and market-wide pullback.

Recent institutional developments are drawing significant attention to XRP. Data from the Bank for International Settlements (BIS) now ranks XRP among the top five cryptocurrencies globally by bank exposure, a group that also includes Bitcoin, Ethereum, and Solana.

Market Pressures Amidst Institutional Progress

Despite these institutional strides, XRP's price action tells a contrasting story. The asset is currently testing a support level around $1.40, having retreated from a weekly high near $1.60 reached on March 22. On-chain analysis reveals a substantial supply concentration between $1.58 and $1.60, where approximately two billion XRP tokens are held in wallets that purchased at those prices, creating a technical resistance zone.

Broader market conditions are adding pressure. A recent pullback in Bitcoin toward the $70,000 level has weighed on the wider crypto market, including XRP. Year-to-date, XRP has declined in value by roughly 24 percent.

In a separate development, the exchange Binance will delist several margin trading pairs, including XRP/BNB, effective March 27. Open positions will be automatically closed at market price on that date, prompting the platform to advise users to close their positions manually beforehand.

Foundations for Broader Adoption

The BIS assessment covers 150 banks, which includes 29 globally systemically important financial institutions. XRP's inclusion in this ranking highlights a growing trend toward standardizing digital assets on traditional bank balance sheets. Analysts at JPMorgan have suggested that the underlying Ripple technology could influence up to $120 billion in cross-border payment flows.

In a major move for institutional adoption, the company Evernorth filed an S-4 registration statement with the U.S. Securities and Exchange Commission on March 18. The firm aims to list on the Nasdaq via a SPAC merger designed to raise over $1 billion. Proceeds are earmarked primarily for building an XRP treasury and funding decentralized finance (DeFi) initiatives. Evernorth's current holdings amount to roughly 473 million XRP, valued at approximately $692 million.

Meanwhile, Ripple continues its periodic burning of RLUSD stablecoins. The company destroyed 9 million tokens in March alone, bringing the total to 47 million since the stablecoin's launch in late 2025. The direct impact of these burns on XRP's price, however, is considered limited.