Key Notes
- XRP drops 20% in a week as Ripple plans a $1B SPAC fundraising.
- Ripple aims to establish a crypto treasury with newly purchased and existing XRP.
- XRP faces key support at $2.20, with potential rebound targets at $2.70 and $3.
Ripple Labs is reportedly gearing up to raise $1 billion through a special purpose acquisition company (SPAC) to purchase its own XRP
XRP
$2.21
24h volatility:
7.6%
Market cap:
$132.72 B
Vol. 24h:
$8.04 B
token, despite the altcoin crashing more than 5.5% in the past 24 hours.
According to Bloomberg, the move aims to create a digital asset treasury (DAT) that would hold the freshly purchased XRP along with some of Ripple’s existing holdings.
XRP trades at $2.27 at press time, marking a 20% decline over the past week after failing multiple attempts to reclaim $3.
Ripple Already Has Billions of XRP
Ripple, which already holds over 4.5 billion XRP from a total circulating supply exceeding 59 billion, could add another 427 million tokens to its reserves if the proposed buyback proceeds.
The firm also controls around 37 billion XRP locked in escrow, released monthly in tranches, part of which is sold and the rest returned to escrow.
Ripple’s move to bolster its XRP treasury could be an attempt to stabilize market confidence amid dropping prices.
Acquisition of GTreasury
The initiative follows Ripple’s recent $1 billion acquisition of GTreasury, a corporate treasury management platform that enables businesses to manage digital assets, stablecoins, and tokenized deposits.
The deal expands Ripple’s presence in the digital finance space, strengthening its infrastructure for corporate clients seeking to manage blockchain-based assets efficiently.
Once known primarily for cross-border payments, Ripple now seeks to establish itself as a global financial infrastructure provider.
XRP Price Analysis: What’s Next After the Crash?
XRP’s price chart reveals sustained bearish pressure as the token recently broke below its multi-month support at $2.50, slipping under the lower Bollinger Band.
The RSI hovers near 30, indicating that XRP is approaching a critical threshold that often precedes short-term recoveries. However, MACD levels remain bearish, and the BoP indicator leans heavily toward sellers.
XRP daily chart with momentum indicators. | Source: TradingView
Immediate support lies around $2.20. If this zone fails to hold, XRP could slide toward $2 or even $1.80. However, a rebound above $2.70, the 20-day moving average, could open the path toward $3.
Bitcoin Hyper Raises $24 Million in Presale
As XRP tries to stabilize, Bitcoin Hyper (HYPER) has drawn significant attention. Designed as a high-performance Layer 2 solution for Bitcoin
BTC
$104 893
24h volatility:
5.4%
Market cap:
$2.09 T
Vol. 24h:
$89.33 B
, the project integrates the Solana Virtual Machine (SVM) to enable smart contracts and faster transactions.
Bitcoin Hyper connects Bitcoin’s mainnet to its Hyper Layer 2 network via a Canonical Bridge, allowing users to lock their BTC and receive equivalent tokens on the Hyper network.
This structure provides enhanced speed and flexibility while maintaining strong security standards.
Presale Details of Bitcoin Hyper
- Token: HYPER
- Current Presale Price: $0.013125
- Staking Yield: 49% APY
- Funds Raised: $23.9 million
Bitcoin Hyper is emerging as one of the most promising crypto presales currently active. The HYPER token price is set to increase within the next few hours, making this a good entry point for early investors.
Interested in becoming a part of the presale? Check out our guide on how to buy Bitcoin Hyper.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/ripple-wants-1b-to-buy-xrp-amid-market-wipeout/
