XRP Price Could Surge from New Acquisition, Amid Community Skepticism

Just lately, Ripple announced the acquisition of Normal Custody & Belief Firm, a digital asset custodian. The corporate goals to develop into completely different sectors past its core funds community enterprise.

This growth could grow to be the important thing catalyst in driving the value of XRP to new heights, addressing historic challenges of worth declines and stagnant development. 

Ripple’s Acquisition Units Stage For Potential XRP Worth Surge

On Tuesday, February 13, Ripple disclosed the formal settlement to acquire Standard Custody to repeatedly develop its choices and pursue sensible acquisitions to capitalize on present and future market opportunities. 

The acquisition of Normal Custody indicators Ripple’s dedication to serving its clients and fostering development and safety within the Ripple ecosystem. By implementing a digital asset custodian, Ripple can present safe storage and administration of digital belongings like XRP. 

Moreover, a cryptocurrency custodian can doubtlessly increase confidence in buyers and monetary establishments. This elevated belief could appeal to substantial institutional buyers into the XRP ecosystem, doubtlessly driving up demand and triggering a worth improve for XRP. 

In keeping with CoinMarketCap, XRP is priced at $0.5, reflecting a 0.95% lower within the final 24 hours and an 8.87% drop over the previous month.

Regardless of bullish market developments, the cryptocurrency has lingered across the $0.5 worth for months, resulting in a shift in investor sentiment and confidence. Some members of the XRP group have additionally accused the cryptocurrency of being purposefully suppressed. 

In mild of this, Ripple’s strategic acquisition has the potential to behave as a catalyst, boosting the value of XRP. The digital asset custodian may introduce a component of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem.

Consequently, this will likely positively affect the overall notion of XRP, attracting favorable sentiments and institutional buyers and doubtlessly contributing to an upward price movement.

XRP Group Divided As Doubts Emerge

Regardless of Ripple’s newest announcement and the potential constructive impacts the acquisition could have on the ecosystem, the XRP community has remained unsure, frequently voicing out considerations over the depressed state of the cryptocurrency. 

Responding to Ripple Chief Govt Officer (CEO) Brad Garlinghouse’s assertion concerning the firm’s plans to amass Normal Custody, an XRP supporter and investor, recognized as “MackAttackXRP” on X (previously Twitter), expressed skepticism, stating that Ripple’s current developments had been inadequate to generate a constructive impression on XRP’s worth. 

Mack revealed that the value of XRP has been “structurally too low for the previous 5 years.” He talked about a notable shift in views amongst XRP group members, with some opting to alter their XRP for extra promising cryptocurrencies or exit the market altogether. 

One other XRP group member expressed his frustration concerning the cryptocurrency’s worth, disclosing that many devoted supporters of XRP are beginning to lose hope for the cryptocurrency and will take into account leaving earlier than witnessing any important worth will increase for XRP. 

Chart from Tradingview

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