{"id":575061,"date":"2024-02-14T13:00:23","date_gmt":"2024-02-14T13:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=575061"},"modified":"2024-06-11T07:54:28","modified_gmt":"2024-06-11T07:54:28","slug":"xrp-price-could-surge-from-new-acquisition-amid-community-skepticism","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-could-surge-from-new-acquisition-amid-community-skepticism\/","title":{"rendered":"XRP Price Could Surge from New Acquisition, Amid Community Skepticism"},"content":{"rendered":"

Recently, Ripple <\/span>announced<\/a> the acquisition of Standard Custody & Trust Company, a digital asset custodian. The company aims to expand into different <\/span>sectors beyond\u00a0its core payments network business.<\/span><\/p>\n

Related Reading: Are We Headed For Another $69K? Bitcoin Price Surges As Greed Dominates Crypto Market<\/a><\/div>\n

This development may become the key catalyst in <\/span>driving the price of XRP to new heights<\/span><\/a>, addressing historical challenges of price declines and stagnant growth.\u00a0<\/span><\/p>\n

Ripple\u2019s Acquisition Sets Stage For Potential XRP Price Surge<\/h2>\n

On Tuesday, February 13, Ripple disclosed the formal agreement to <\/span>acquire Standard Custody<\/span><\/a> to continually expand its offerings and pursue smart acquisitions to <\/span>capitalize on present and future market opportunities<\/span><\/a>.\u00a0<\/span><\/p>\n

The acquisition of Standard Custody signals Ripple\u2019s commitment to serving its customers and fostering growth and security in the Ripple ecosystem. By implementing a digital asset custodian, Ripple can provide secure storage and management of digital assets like <\/span>XRP<\/span><\/a>.\u00a0<\/span><\/p>\n

Additionally, a cryptocurrency custodian can potentially boost confidence in investors and financial institutions. This increased trust may attract substantial institutional investors into the XRP ecosystem, potentially driving up demand and triggering a <\/span>price increase for XRP.\u00a0<\/span><\/a><\/p>\n

According to CoinMarketCap, XRP is priced at $0.5, reflecting a 0.95% decrease in the last 24 hours and an 8.87% drop over the past month. <\/span><\/p>\n

\"Ripple
XRP’s trends sideways on the daily chart. Source: XRPUSDT on Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

Despite bullish market trends, the cryptocurrency has lingered around the $0.5 price for months, leading to a shift in investor sentiment and confidence. Some members of the XRP community have also accused the cryptocurrency of being <\/span>purposefully suppressed.\u00a0<\/span><\/a><\/p>\n

In light of this, Ripple\u2019s strategic acquisition has the potential to act as a catalyst, boosting the price of XRP. The digital asset custodian could introduce an element of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem. <\/span><\/p>\n

Consequently, this may positively influence the general perception of XRP, attracting favorable sentiments and institutional investors and potentially contributing to an <\/span>upward price movement<\/span><\/a>.<\/span><\/p>\n

XRP Community Divided As Doubts Emerge<\/h2>\n

Despite Ripple\u2019s latest announcement and the potential positive impacts the acquisition may have on the ecosystem, the <\/span>XRP community<\/span><\/a> has remained in doubt, continually voicing out concerns over the <\/span>depressed state of the cryptocurrency.\u00a0<\/span><\/a><\/p>\n

Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse\u2019s statement about the company\u2019s plans to acquire Standard Custody, an XRP supporter and investor, identified as \u201cMackAttackXRP\u201d on X (formerly Twitter), <\/span>expressed skepticism, stating<\/span><\/a> that Ripple\u2019s recent developments were insufficient to generate a positive impact on XRP\u2019s price.\u00a0<\/span><\/p>\n

Mack revealed that the price of XRP has been \u201cstructurally too low for the past five years.” <\/span>He mentioned a notable shift in perspectives among XRP community members, with some opting to change their XRP for more <\/span>promising cryptocurrencies<\/span><\/a> or exit the market altogether.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Prediction: A Fresh Rally Is Around The Corner?<\/a><\/div>\n

Another XRP community member expressed his frustration about the cryptocurrency\u2019s price, <\/span>disclosing<\/span><\/a> that many dedicated supporters of XRP are starting to <\/span>lose hope for the cryptocurrency<\/span><\/a> and may consider leaving before witnessing any significant price increases for XRP.\u00a0<\/span><\/p>\n

Chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, Ripple announced the acquisition of Standard Custody & Trust Company, a digital asset custodian. The company aims to expand into different sectors beyond\u00a0its core payments network business. Related Reading: Are We Headed For Another $69K? Bitcoin Price Surges As Greed Dominates Crypto Market This development may become the key catalyst in driving the price of XRP to new heights, addressing historical challenges of price declines and stagnant growth.\u00a0 Ripple\u2019s Acquisition Sets Stage For Potential XRP Price Surge On Tuesday, February 13, Ripple disclosed the formal agreement to acquire Standard Custody to continually expand its offerings and pursue smart acquisitions to capitalize on present and future market opportunities.\u00a0 The acquisition of Standard Custody signals Ripple\u2019s commitment to serving its customers and fostering growth and security in the Ripple ecosystem. By implementing a digital asset custodian, Ripple can provide secure storage and management of digital assets like XRP.\u00a0 Additionally, a cryptocurrency custodian can potentially boost confidence in investors and financial institutions. This increased trust may attract substantial institutional investors into the XRP ecosystem, potentially driving up demand and triggering a price increase for XRP.\u00a0 According to CoinMarketCap, XRP is priced at $0.5, reflecting a 0.95% decrease in the last 24 hours and an 8.87% drop over the past month. Despite bullish market trends, the cryptocurrency has lingered around the $0.5 price for months, leading to a shift in investor sentiment and confidence. Some members of the XRP community have also accused the cryptocurrency of being purposefully suppressed.\u00a0 In light of this, Ripple\u2019s strategic acquisition has the potential to act as a catalyst, boosting the price of XRP. The digital asset custodian could introduce an element of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem. Consequently, this may positively influence the general perception of XRP, attracting favorable sentiments and institutional investors and potentially contributing to an upward price movement. XRP Community Divided As Doubts Emerge Despite Ripple\u2019s latest announcement and the potential positive impacts the acquisition may have on the ecosystem, the XRP community has remained in doubt, continually voicing out concerns over the depressed state of the cryptocurrency.\u00a0 Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse\u2019s statement about the company\u2019s plans to acquire Standard Custody, an XRP supporter and investor, identified as \u201cMackAttackXRP\u201d on X (formerly Twitter), expressed skepticism, stating that Ripple\u2019s recent developments were insufficient to generate a positive impact on XRP\u2019s price.\u00a0 Mack revealed that the price of XRP has been \u201cstructurally too low for the past five years.” He mentioned a notable shift in perspectives among XRP community members, with some opting to change their XRP for more promising cryptocurrencies or exit the market altogether.\u00a0 Related Reading: XRP Price Prediction: A Fresh Rally Is Around The Corner? Another XRP community member expressed his frustration about the cryptocurrency\u2019s price, disclosing that many dedicated supporters of XRP are starting to lose hope for the cryptocurrency and may consider leaving before witnessing any significant price increases for XRP.\u00a0 Chart from Tradingview<\/p>\n","protected":false},"author":594,"featured_media":573681,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,4531,13172,15883,15621,15622,78763],"class_list":["post-575061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-xrp","tag-xrp-price","tag-xrp-price-analysis","tag-xrp-price-chart","tag-xrp-price-forecast","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Could Surge from New Acquisition, Amid Community Skepticism<\/title>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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