Recently, Ripple announced the acquisition of Standard Custody & Trust Company, a digital asset custodian. The firm goals to increase into totally different sectors past its core funds community enterprise.
This growth could develop into the important thing catalyst in driving the price of XRP to new heights, addressing historic challenges of value declines and stagnant development.
Ripple’s Acquisition Sets Stage For Potential XRP Price Surge
On Tuesday, February 13, Ripple disclosed the formal settlement to acquire Standard Custody to repeatedly increase its choices and pursue sensible acquisitions to capitalize on present and future market opportunities.
The acquisition of Standard Custody indicators Ripple’s dedication to serving its prospects and fostering development and safety within the Ripple ecosystem. By implementing a digital asset custodian, Ripple can present safe storage and administration of digital property like XRP.
Additionally, a cryptocurrency custodian can doubtlessly increase confidence in buyers and monetary establishments. This elevated belief could appeal to substantial institutional buyers into the XRP ecosystem, doubtlessly driving up demand and triggering a price increase for XRP.
According to CoinMarketCap, XRP is priced at $0.5, reflecting a 0.95% lower within the final 24 hours and an 8.87% drop over the previous month.
Despite bullish market traits, the cryptocurrency has lingered across the $0.5 value for months, resulting in a shift in investor sentiment and confidence. Some members of the XRP group have additionally accused the cryptocurrency of being purposefully suppressed.
In mild of this, Ripple’s strategic acquisition has the potential to behave as a catalyst, boosting the worth of XRP. The digital asset custodian might introduce a component of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem.
Consequently, this will positively affect the final notion of XRP, attracting favorable sentiments and institutional buyers and doubtlessly contributing to an upward price movement.
XRP Community Divided As Doubts Emerge
Despite Ripple’s newest announcement and the potential optimistic impacts the acquisition could have on the ecosystem, the XRP community has remained unsure, frequently voicing out issues over the depressed state of the cryptocurrency.
Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse’s assertion in regards to the firm’s plans to amass Standard Custody, an XRP supporter and investor, recognized as “MackAttackXRP” on X (previously Twitter), expressed skepticism, stating that Ripple’s current developments had been inadequate to generate a optimistic influence on XRP’s value.
Mack revealed that the worth of XRP has been “structurally too low for the past five years.” He talked about a notable shift in views amongst XRP group members, with some opting to alter their XRP for extra promising cryptocurrencies or exit the market altogether.
Another XRP group member expressed his frustration in regards to the cryptocurrency’s value, disclosing that many devoted supporters of XRP are beginning to lose hope for the cryptocurrency and will think about leaving earlier than witnessing any vital value will increase for XRP.
Chart from Tradingview
Disclaimer: The article is offered for instructional functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your individual analysis earlier than making any funding selections. Use info offered on this web site fully at your individual threat.
