Ripple’s $1.25B Hidden Road Acquisition Boosts Infrastructure Amid SEC Lawsuit Uncertainty
Ripple has made a landmark $1.25 billion acquisition of Hidden Road, marking its entry as the first crypto firm to operate a global multi-asset prime brokerage. However, XRP’s price momentum remains stifled by the unresolved SEC lawsuit, with conflicting claims adding legal ambiguity. Meanwhile, XRP futures volume surges to a monthly high, reflecting mixed market sentiment.
Ripple Acquires Hidden Road for $1.25 Billion, But XRP Faces SEC Lawsuit Hurdle
Ripple announced the acquisition of Hidden Road for $1.25 billion, positioning it as the first crypto company to own and operate a global, multi-asset prime broker. Despite this milestone, XRP struggles to gain upward momentum due to the ongoing Ripple vs. SEC lawsuit, with recent filings adding confusion to the case. Ripple claims the appeal is settled, but the SEC disagrees.
XRP Futures Volume Hits Monthly High Amid Price Volatility
XRP futures volume across exchanges has reached a monthly high of $21.62 billion, as traders position themselves for a significant move. The price of XRP has dropped 7.87% to $1.79, with $1.81 being a critical level. Analysts suggest that this could be a potential final correction before a breakout to new highs. The increased volatility and trading activity indicate that market participants are closely watching XRP’s price action.
XRP Bullish Setup: Breakout Potential Above $2.00 Resistance
XRP is currently testing key support and forming a bullish pattern, with a potential breakout above the $2.00–$2.20 resistance range. A rounded bottom pattern suggests possible accumulation, targeting up to $3.30 on a breakout. Traders can consider entering long positions between $1.70–$1.85, with potential targets at $2.33, $2.81, and $3.31. An analyst has highlighted that XRP is in a descending channel, close to a significant support trend line, implying it might be in an accumulation phase before breaking out.
XRP News: Network Breaks Milestone, Price Rebound To Follow?
Amid the global digital asset market selloff and bearish sentiments, XRP is still making news for hitting milestones. Notably, the number of addresses on the XRP ecosystem has soared significantly despite the ongoing market volatility. According to Ali Martinez, a well-known on-chain analyst, the XRP network is growing stronger, having recently reached 6.26 million addresses. These addresses own at least 1 XRP, indicating a growing adoption by market participants and users worldwide. However, XRP is not immune to the bearish sentiments in the broader cryptocurrency space.
