Ripple’s Strategic $1.25B Acquisition of Hidden Road Boosts XRP Ecosystem
In a landmark move for the cryptocurrency sector, Ripple has acquired prime brokerage firm Hidden Road for $1.25 billion, significantly bolstering its enterprise blockchain capabilities. This acquisition, part of a broader funding push exceeding $1.5 billion for the week, underscores Ripple’s commitment to expanding its XRP Ledger infrastructure. The deal, structured as a cash-and-XRP transaction, highlights the growing integration of digital assets in high-value corporate acquisitions.
Ripple Acquires Hidden Road for $1.25 Billion, Pushing Total Funding to Over $1.5 Billion
The second week of April saw a significant acquisition in the crypto world: Ripple, which offers enterprise blockchain products on the XRP Ledger, purchased Hidden Road, a prime brokerage firm, for $1.25 billion. According to data from Crypto Fundraising, the deal helped push the week’s total funding to exceed $1.5 billion. The deal will be primarily cash-based, along with a portion paid in XRP and Ripple stock. Marc Asch, the founder of Hidden Road, will continue to lead the brokerage under Ripple. Brad Garlinghouse, CEO of Ripple, stated that the acquisition is part of their strategy to expand and appeal to a larger segment of the biggest bulge bracket institutions.
Ripple Settles with Regulators, XRP Price Rallies
Ripple has settled with the U.S. Securities and Exchange Commission (SEC) by agreeing to pay $50 million. This settlement has coincided with a significant price rally for XRP, making it the top-performing major cryptocurrency over the past 90 days according to Ripple CEO Brad Garlinghouse. The SEC originally sued Ripple in December 2020, claiming it sold XRP as an unregistered security. In a key 2023 ruling, the court gave Ripple a partial win, stating that institutional sales were legal but XRP sales on public exchanges did violate securities laws. Ripple had originally set aside $125 million in escrow for potential penalties, but will now be reclaiming most of that, including accumulated interest.
XRP Price Next Targets, Elliot Wave Analysis and More
XRP is currently up by more than 3% and trading at $2.06. Analysts observe short-term strength after the cryptocurrency held a key Fibonacci support zone between $1.89 and $1.99. The price is moving towards a resistance area between $2.15 and $2.17, which is part of a corrective ABC structure. If the five-wave pattern completes, XRP could reach the 100% Fibonacci extension level, aligning with historical swing highs and the 61.8% retracement level from previous moves.
Ripple SEC Lawsuit Nears Resolution, End in Sight for XRP’s Legal Woes
Ripple Labs and its XRP token have been at the center of a high-profile legal battle with the U.S. Securities and Exchange Commission (SEC) since December 2020. The SEC alleges that Ripple sold XRP as an unregistered security, while Ripple argues that XRP is a currency. As both parties file for a joint motion to pause their appeals, April 16 could mark the end of Ripple’s litigation woes. The case has become a litmus test for crypto regulation in the U.S.
XRP Price Prediction: Accumulation Phase Signals Potential Rally to $2.40
XRP is currently trading at $2.04 with a 1.84% daily gain, showing early signs of bullish momentum despite broader market weakness. Technical analysis suggests a potential breakout towards $2.40. Recent liquidity sweeps indicate accumulation, though the long-term trend remains bearish. A confirmed breakout above the downtrend line is crucial for a full trend reversal. Over the last week, XRP is down by 4.55%, and over the last month, it is down by 8.52%.