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Recently, Ripple announced the acquisition of Standard Custody & Trust Company, a digital asset custodian. The firm goals to develop into totally different sectors past its core funds community enterprise.

This growth might change into the important thing catalyst in driving the price of XRP to new heights, addressing historic challenges of value declines and stagnant progress. 

Ripple’s Acquisition Sets Stage For Potential XRP Price Surge

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

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

Additionally, a cryptocurrency custodian can probably enhance confidence in buyers and monetary establishments. This elevated belief might entice substantial institutional buyers into the XRP ecosystem, probably driving up demand and triggering a price increase for XRP. 

According to 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.

Despite bullish market developments, the cryptocurrency has lingered across the $0.5 value 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 might introduce a component of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem.

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

XRP Community Divided As Doubts Emerge

Despite Ripple’s newest announcement and the potential constructive impacts the acquisition might have on the ecosystem, the XRP community has remained doubtful, frequently voicing out issues over the depressed state of the cryptocurrency. 

Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse’s assertion in regards to the firm’s plans to accumulate Standard Custody, an XRP supporter and investor, recognized as “MackAttackXRP” on X (previously Twitter), expressed skepticism, stating that Ripple’s latest developments have been inadequate to generate a constructive influence on XRP’s value. 

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

Another XRP group member expressed his frustration in regards to the cryptocurrency’s value, disclosing that many devoted supporters of XRP are beginning to lose hope for the cryptocurrency and should think about leaving earlier than witnessing any vital value will increase for XRP. 

Chart from Tradingview

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