Ripple Labs has filed a trademark application for “Ripple Custody” to expand its services to include cryptocurrency custody.

Ripple Labs has submitted a trademark application for “Ripple Custody,” suggesting it is considering growing its brand in the cryptocurrency custody market. Financial services, like custodian services, are one of the four use cases for the trademark listed in the filing.

Ripple’s Custody Trademark Filing

Crypto custodians work to reduce risks like lost private keys and security breaches by managing and storing digital assets for both individuals and organizations. Custody services have become more in demand in recent years, particularly after exchange-traded funds (ETFs) were approved in the US in 2024.

BNY Mellon, Citi, and Coinbase are the leading companies in this market. The trademark application comes after the firm introduced the Ripple custody service in October 2024.

The company stated at the time that the move was intended to diversify its sources of income outside of its payment settlement solution.

Will a Ripple Custody Wallet Be Approved?

Another use case mentioned in the trademark application is the distributable software for custody of cryptocurrency, physical currency, virtual currency, and digital currency; downloadable applications for transferring and storing cryptocurrency, virtual currency, fiat currency, and digital currency.

The use case suggests that Ripple intends to introduce a cryptocurrency wallet to support a wider range of digital assets or its native token, XRP. The business does not currently provide a cryptocurrency wallet.

The wallet solutions offering would give Ripple access to another source of income by collecting transaction fees. Exodus, Trust Wallet, Trezor, Ledger hardware wallets, and numerous other businesses already support XRP and other cryptocurrencies.

Why XRP Price Would Not Record an Uptrend Despite Rising Adoption — DigitalG

Many cryptocurrency observers remain confused by the price movement of XRP, the cryptocurrency linked to Ripple, and wonder why its price isn’t bullish despite increased adoption from institutions. Despite recovering from its previous low of $1.96 on March 11, XRP is still 30.9% below its all-time high of $3.40.

In an X post, former London fund manager DigitalG recently shared his opinions on XRP’s current price downtrend. The analyst asserted that Ripple’s dual-ledger system is the cause of XRP’s poor price performance.

This relates to the business’s simultaneous use of the XRP Ledger (XRPL), which is available to the public, and a private version that banks use. The private ledger can handle thousands of transactions per second (TPS) and is based on the same technology as the public one.

According to DigitalG, financial institutions may purchase large amounts of XRP through the private ledger, facilitating enterprise use cases. In contrast to the public XRPL, this private ledger functions with centralized control, leading to controlled visibility and limited access by authorized entities.

DigitalG maintains that since institutional demand is not represented in public exchange prices, this discrepancy may be masking XRP’s actual value. One X commenter challenged this opinion, claiming the crypto asset’s price isn’t rising because so many retail investors own XRP.

He believes that XRP was never designed to be held by small, individual investors. DigitalG responded by asking the commentator to picture selling XRP for $2.30, even though its actual value was $15,840, which was kept secret from the public.

Meanwhile, DigitalG predicted that the XRP and private ledgers would merge on July 14. He believes this could lead to a significant shift in XRP’s price action.

Ripple-SEC Case May Cause Zero Pressure on XRP Price — Bill Morgan

The price of XRP could be impacted by the cryptocurrency market players’ high expectations regarding the impending resolution of the Ripple-SEC case. Although many still hope that the token’s price may rise after a successful outcome, attorney Bill Morgan has expressed concern.

Morgan warned in a recent X post that the effects of the lengthy Ripple-SEC case on XRP are uncertain. The community has been hoping for an early resolution in the Ripple SEC case, prompted by the US Securities and Exchange Commission’s recent practice of ending cryptocurrency-related lawsuits.

Analysts predict that XRP’s price will rise if Ripple prevails in this legal dispute.