XRP News Today: Ripple’s Strategic Moves Boost XRP Outlook with 564% Potential Gain

Ripple’s recent strategic acquisitions and upgrades to its XRP Ledger (XRPL) blockchain are bolstering the bullish outlook for XRP. The company’s acquisition of Hidden Road, a prime brokerage, for $1.25 billion is a significant move aimed at attracting institutional investors. Ripple plans to use its stablecoin, RLUSD, as collateral across Hidden Road’s suite of brokerage services. This acquisition is part of a broader strategy that includes multiple potential acquisitions in various stages, as revealed by Ripple’s chief technology officer, David Schwartz.

Ripple has also been actively courting traditional finance companies, with notable acquisitions including Metaco and Standard Custody. The company is planning to upgrade its XRPL blockchain to include increased programmability and a new lending protocol. This upgrade, along with the partnership with Wormhole, aims to expand multichain interoperability on the XRPL and its upcoming XRPL EVM Sidechain. These enhancements are expected to improve scalability and interoperability, potentially boosting XRP demand for cross-border payments and decentralized finance (DeFi) applications. As Ripple strengthens its infrastructure and partnerships, increased adoption could drive demand, pushing XRP’s price beyond its current range.

Growing exposure to CME XRP futures could also catalyze a significant breakout in XRP’s price. Since launching on May 19, both the standard and micro XRP futures contracts have amassed more than $542.8 million in notional trading volume, indicating robust institutional and retail appetite. The introduction of XRP futures has rapidly demonstrated significant market interest and widespread participation, with trading volume reaching $19.3 million across 15 firms and four retail trading platforms on the first day. This diverse engagement, from ETF issuers to individual retail traders, highlights the robust demand for XRP futures.

Moreover, the likely approval of a spot XRP ETF would see more capital inflows into XRP investment products, solidifying its position as a mainstream asset and sending its price higher. The betting odds for an XRP ETF approval by Dec. 31 currently stand at 76% on Polymarket.

Technical analysis also suggests that XRP price could be preparing for a major breakout. According to crypto analyst XForceGlobal, the recent pullback to $1.90 “set the stage for a faster bullish route to the upside.” The price had retested the key 0.618 Fibonacci level around $2.00. An accompanying chart showed an Elliott Wave analysis projecting a possible breakout to $5. In an earlier post, XForceGlobal said his target for this cycle was between $20 and $30. This aligns with Egrag Crypto’s analysis that Fibonacci extension levels centered around a symmetrical triangle projected a $8-$27 XRP price target. A positive breakout from the pennant could potentially lead to the next leg up for XRP, measured at $14, or 564% from its current price level.

As Cointelegraph reported, XRP’s next big up-move will likely begin after buyers drive the price above $2.65 (the upper limit of the current consolidation range), clearing the path for a rally to $3 and beyond.