XRP bulls stutter as Citigroup rethinks custody partnership with Ripple-owned Metaco digital custody
Ripple (XRP) price has faltered, trading without a clear directional bias on June 30, while the stalling has something to do with the concerns by the ...
- Citigroup is reviewing its digital asset custody deal with Metaco, and informal talks with other providers are underway.
- Ripple Labs acquired Metaco for $250 million in May to expand its services suite.
- The uncertainty surrounding Citi's reappraisal and Ripple's ownership of Metaco has caused XRP traders to adopt a wait-and-see approach.
- The price of XRP has been affected by concerns from the SEC about inadequate ETF filings.
- Ripple's purchase of Bitstamp shares and the acquisition of Metaco were part of its growth strategy to offer tokenization, payments, and storage capabilities for every asset.
- It is unclear if Citigroup's reappraisal is directly related to Ripple's acquisition of Metaco.
The sentiment in the article is mostly neutral, with a focus on uncertainty and cautiousness among XRP traders.