XRP News: Whale Investment and DTX Exchange Stake Offer Highlight XRP’s Market Dynamics

Recent developments in the XRP market have highlighted the ongoing shifts in investor sentiment and strategies. A major whale has made a significant investment in the DTX Exchange, while the exchange itself offers attractive staking rewards, potentially impacting XRP’s future price trajectory.

XRP Whale Adds $1.65 Million to DTX Exchange for 33.5% Passive Income

The XRP price has slowed down after an intense rally in November. Many whales have been periodically liquidating positions in Ripple (XRP) to invest in emerging projects. On-chain data shows that Ripple whales recently transferred an additional $1.65 million to DTX Exchange, the most successful presale of the year. DTX provides stable returns with an impressive 33.5% APY on staking its native tokens, attracting seasoned investors despite the slow market. DTX raised over $16 million in bearish market conditions, highlighting its potential to lead the next bull cycle.

XRP Rising but Potential Crash Looms

XRP has rebounded in recent days, climbing from $1.8890 to over $2.30. The rebound is largely attributed to the crypto and stock market gains, with top U.S. indices gaining more than 1.5% on Friday. Optimism regarding the approval of a spot ETF by the Securities and Exchange Commission (SEC) has also fueled the price rise, with approval odds now at 76%. A spot XRP ETF could attract more inflows from Wall Street investors. Additionally, speculation that the SEC will drop its lawsuit against Ripple Labs has benefited the company, potentially allowing it to secure more deals with banks and financial institutions in the money transfer industry.

XRP Poised for $5.85 as Downtrend Ends, Technical Indicators Confirm Uptrend

Ripple (XRP) is holding strong above its crucial support level and seems to be on the verge of a huge upward move. The bounce at $1.91 confirms the downmove is complete and upward momentum is building. Technical indicators point to the stock going up to $5.85, according to analysts. Key support at $2.30 and resistance at $3.39 will determine the course ahead. Currently, XRP is trading at $2.35 and slightly up by 1% in the last 24 hours, with a trading volume slightly down by 5%.

Ripple Files Trademark for ‘Ripple Custody’

Ripple is expanding into the digital asset custody sector by filing a trademark for “Ripple Custody” at the USPTO. The application was submitted on Feb. 25. This filing aligns with Ripple’s broader strategy to enter the rapidly growing custody sector, which is projected to exceed $20 trillion. Ripple has already acquired Metaco and Standard Trust to bolster its custody offerings, which will include downloadable and cloud-based software to safeguard cryptocurrencies.