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Home»EXCHANGE NEWS»XRP price could soar on new acquisition amid community skepticism
EXCHANGE NEWS

XRP price could soar on new acquisition amid community skepticism

By Crypto FlexsFebruary 14, 20243 Mins Read
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XRP price could soar on new acquisition amid community skepticism
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Recently, Ripple Announced the acquisition of Standard Custody & Trust Company, a digital asset management company. The company aims to expand into various fields. field beyond This is our core payment network business.

These developments could be major catalysts for: Taking XRP Price to New LevelsAddressing the historic challenges of falling prices and stagnant growth.

Ripple’s acquisition sets the stage for a potential XRP price surge

On Tuesday, February 13th, Ripple released the following official contract: Obtaining Standard Custody We continually expand our offerings and pursue smart acquisitions. Take advantage of current and future market opportunities.

The acquisition of Standard Custody represents Ripple’s commitment to serving its customers and promoting the growth and security of the Ripple ecosystem. By implementing a digital asset manager, Ripple can provide secure storage and management of digital assets such as: XRP.

Additionally, cryptocurrency custodians can potentially increase trust in investors and financial institutions. This increase in trust could attract significant institutional investors to the XRP ecosystem, potentially increasing demand and XRP price increase.

According to CoinMarketCap, the price of XRP is $0.5, down 0.95% in the last 24 hours and down 8.87% over the past month.

On the daily chart, the trend of XRP is tilting sideways. source: XRPUSDT on Tradingview

Despite the optimistic market trend, the cryptocurrency has maintained a price of $0.50 for several months, causing a shift in investor sentiment and confidence. Some members of the XRP community have also accused the cryptocurrency of: It was intentionally suppressed.

In light of this, Ripple’s strategic acquisition is likely to act as a catalyst to boost the price of XRP. By introducing an element of stability to the XRP ecosystem, digital asset managers can address the regulatory uncertainty plaguing the ecosystem.

In turn, this will have a positive impact on the general perception of XRP, attracting favorable sentiment and institutional investors, potentially upward movement in price.

As doubts surfaced, the XRP community was divided.

Despite the positive impact Ripple’s recent announcements and acquisitions may have on the ecosystem, XRP Community I have continued to question and express concerns. The depressing state of cryptocurrency.

In response to Ripple CEO Brad Garlinghouse’s statement about the company’s plans to acquire Standard Custody, an XRP supporter and investor identified as “MackAttackXRP” on X (formerly Twitter): Expressing a skeptical stance Ripple’s recent developments have not been enough to have a positive impact on the price of XRP.

Mack stated that the price of XRP has been “structurally too low for the past five years.” He noted a noticeable change in perspective among XRP community members, with some deciding to change XRP for more. Promising Cryptocurrency Or exit the market completely.

Another XRP community member expressed his displeasure with the price of the cryptocurrency. open Many dedicated supporters of XRP Losing hope in cryptocurrency You may want to consider leaving before you see a significant price increase for XRP.

Charts from Tradingview

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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