SAN FRANCISCO / LONDON (IT BOLTWISE) – Ripple Labs plans a multi-billion dollar investment in XRP to create a new digital treasure. Despite a recent 24% price decline, the company has ambitious capital raising plans. This initiative could initiate a recovery in the price of XRP and potentially trigger a rise to $10.
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Ripple Labs, the well-known blockchain payments company, recently announced plans to raise at least $1 billion to purchase XRP. This investment will be used to create a new digital treasure, the so-called Digital Asset Treasury (DAT). Despite a challenging market environment that has seen the XRP price fall 24% in the last two weeks, Ripple Labs is showing determination to strengthen its position.
To achieve this ambitious goal, Ripple plans to use a Special Purpose Acquisition Company (SPAC) to facilitate capital raising. Additionally, the company will contribute some of its own XRP holdings to the initiative. These plans come at a time when investor sentiment has become increasingly cautious towards digital treasuries, reflected in the sharp price declines of major crypto companies.
Another strategic move by Ripple is the acquisition of treasury management software provider GTreasury for $1 billion. This acquisition is intended to strengthen relationships with financial executives and treasurers seeking access to tokenized deposits, stablecoins and other digital assets. With these measures, Ripple Labs could initiate a recovery in the XRP price, which, according to experts, could lead to a rise of 340%.
Market analyst Dark Defender noted on the social media platform Despite the current market panic, the expert assures investors that the altcoin is entering a new recovery phase. However, if the current support level of $2.26 fails to hold, the XRP price could fall back to the $1.20 level reached during the market crash on October 10th.
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