During the challenging time of XRP The price, which has seen a decrease of 24% in the last two weeks, blockchain labs, the blockchain company Company, has announced plans to buy at least xrp xrp, aimed at the creation of a Digital Asset Treasury (DAD).
Ripple is planning a major fundraising effort
In accordance with sources Bloomberg, capital will be managed within this new treasury, and ripple plans to use a special acquisitions company (SPAC) to facilitate fundraising. In addition, the company will donate some of its XRP holdings to bolster the effort.
However, the sentiment of money towards Dats has become more cautious, as evidenced by the sharp drop in major crypto shares, including the strategy of Michael Saylor (formerly microsTrategy) and the Japanese metaplanet.
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Despite these doubts, RIPLE LABS pressed forward with its excellence Fundraising Programsthat is, if successful, it would mark the biggest effort of all focused specifically on XRP. Currently, XRP stands as the fifth-largest cryptocurrency, boasting a market capitalization of $138 billion.
In the course of related strategies, the post announced on Thursday Acquisition of Treasury Management Software GTREASISUY for $ 1 billion. This acquisition is seen as a way to strengthen its connections with financial leaders and custodians who want access to demythized tokens, stablecoins, and other digital assets.
As of July 31, ripple took 474 billion xrp tokens into their wallets, which is valued at about $11 billion at current market prices. Additionally, another 35.9 XRP coins are down Escrow LockupsMonthly releases are planned.
350% RAlly On XRP
This could potentially signal a recovery phase for xrp. The dynamic black market expert noted on the platform of communications X (previously) The correction was completed in August, which was established that “the journey to $ 10 begins again.”
Despite the current fear of the market, the expert confirm Investors that the altcoin is entering a new phase of volatility, with the $2.22 Mark representing an important limit of short-term price action.
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According to the expert’s analysis, this situation could lead to a significant rally of 340% in the coming months, on top of the already impressive profit of 320%.
As of this writing, XRP is trading at $2.26 around $2.26, resting on a critical support level that October is approaching. If this level happens, and if the support of $ 2.4 fails to protect further declines, XRP may return to the $ 1.2 level, the value reached during the market crash on October 10.
Featured image from DALL-E, chart from TradingView.Com
