– Ripple plans $1 billion SPAC to purchase XRP despite price drop – Ripple aims to create digital asset treasury with new XRP – XRP trades at $2.27, down 20% in the past week – Ripple holds over 4.5 billion XRP, could add 427 million more – Ripple acquired GTreasury for $1 billion to manage digital assets – XRP breaks below $2.50 support; potential slide to $2 or $1.80 – Bitcoin Hyper raises $24 million in presale; token priced at $0.013125
Ripple Labs is planning to raise $1 billion through a SPAC to buy its own XRP tokens despite a recent price drop of over 5.5%. The aim is to create a Digital Asset Treasury (DAT) holding the newly purchased XRP and existing holdings. Currently, Ripple holds more than 4.5 billion XRP and controls around 37 billion in escrow.
Market Strategy and Acquisitions
- The initiative follows Ripple’s $1 billion acquisition of GTreasury, enhancing its digital finance infrastructure.
- This move could stabilize market confidence amid dropping XRP prices.
XRP Price Analysis
- XRP trades at $2.27, down 20% this week, breaking below support levels at $2.50.
- Indicators show bearish pressure, but recovery could occur if it rebounds above $2.70.
Bitcoin Hyper Presale
- Bitcoin Hyper (HYPER) has raised $23.9 million in presale.
- Utilizes Solana Virtual Machine for enhanced transaction speed and smart contracts.
- Presale price is $0.013125 with a 49% APY staking yield.
For further details, refer to the full article on Coinspeaker.