Ripple Acquires GTreasury for $1 Billion to Expand Institutional Reach

XRP Recovery and Wallet Growth

  • XRP has increased by 5.3% from its recent low, reflecting a recovery in investor confidence.
  • The number of XRP wallets holding at least 10,000 tokens has reached a record 317,500, as per Santiment's data.
  • This growth indicates investors are accumulating XRP for long-term gains despite recent price dips.
  • XRP's price is currently around $2.35, with potential to target $2.8 if momentum continues.
  • However, if momentum stalls, a downward phase could occur.

Ripple’s Strategic Acquisition

  • Ripple Labs acquired GTreasury for $1 billion, enhancing its infrastructure suite with treasury-management software.
  • GTreasury serves over 1,000 customers in about 160 countries, offering Ripple access to the corporate treasury market.
  • Reports suggest Ripple may raise another $1 billion to build an XRP treasury.

For more information on XRP: XRP Details