Ripple, an important player in the payment industry, caused a stir with impressive announcements. First of all, the strategic sale of over one billion XRP tokens attracted attention. Additionally, the acquisition of Standard Custody & Trust Company was on the agenda. While these moves point to adaptability and growth for Ripple, the XRP community is divided on their impact on the price and future of the token. Here are the details…
Important changes in Ripple company
American payment giant Ripple has made significant changes to its XRP holdings. According to the Q4 2023 report, there was a decrease of 780 million tokens in Ripple’s XRP balance. The main reason for this decline is the strategic sale of more than 1 billion XRP tokens. This sale brought $526 million in revenue to Ripple. He also demonstrated the ability to adapt to changing market conditions.
One of the most notable revelations of the report was the sale of more than one billion XRP tokens in Q4 2023. Compare this to the beginning of the quarter, when Ripple held 46.55 billion XRP, and the report shows strategic maneuvering. Because it is a huge number like 1,006,417,233 (1.006 billion) XRP. So, according to some, this is a chess game and Ripple made a strategic move.
Last month, data obtained through Ripple’s API reveals a permanent decline in Ripple’s XRP holdings. As of January 28, the spendable balance stands at 5.05 billion XRP with an additional 40.5 billion XRP secured in escrow. The combination of both accessible and inaccessible wallets paints a picture of the total XRP portfolio currently standing at 45.5 billion. The plot thickens.
Acquisition of Standard Custody takes place
Ripple also demonstrated its commitment to complying with regulations by purchasing Standard Custody & Trust Company. This acquisition is considered part of Ripple’s efforts to encourage institutional adoption. Standard Custody & Trust Company expands Ripple’s product offering by offering a regulated platform for crypto assets.
Ripple’s moves led to different reactions in the XRP community. Some XRP advocates see Ripple’s strategy as a positive development for the future of XRP. In this view, Ripple’s sales of XRP will help it control the supply of the token and stabilize its price. Other XRP investors are concerned about XRP’s price performance. He demands that Ripple take further action to further support the token.
XRP price: Volatility continues
The latest US Consumer Price Index (CPI) data caused volatility in the crypto market. This situation also affected the XRP price and the XRP price dropped from $ 0.53 to $ 0.52. Experts say that XRP has a chance to recover if it stays above the $0.5 level. Investors are carefully following the future price movements of XRP.
As a result, Ripple is making significant changes to XRP and is focused on complying with regulations. Time will tell what impact these moves will have on the future of XRP. The XRP community is divided on Ripple’s strategy, and XRP’s price performance remains unclear.
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