A trader exploited thin weekend liquidity and automated market-making bots on Polymarket to lock in a $233,000 profit, sparking debate over whether the strategy crossed the line into market manipulation.
The joint venture aims to source $300 million in Ripple Labs equity for institutional and qualified retail investors in South Korea.
Crypto analyst CryptosRus has drawn attention to the open interest reset for XRP. The analyst also explained why this development could spark a major price surge for the altcoin. XRP’s Open Interest Drops To New Lows In an X post, CryptosRus revealed that XRP’s open interest on Binance has dropped back to the same lows that were seen in May 2025. The analyst noted that back then, the liquidation flush sparked a massive rally for the altcoin, which pushed it to $3.50. He added that this time around, the open interest is at the floor again, but the price is holding around $2.6. Related Reading: Crypto Analyst Maps Out The XRP Price Roadmap From $3 To $27 CryptosRus stated that this means that leverage is gone while the strong hands are still holding XRP. The analyst predicted that if new liquidity enters, this setup could signal the next leg up for the altcoin. He added that rallies usually start when leverage is low, spot demand is strong, and shorts are trapped. Notably, XRP has witnessed new demand with the launch of the largest XRP treasury company, Evernorth. The company has already accumulated up to $1 billion in XRP with Ripple’s backing and has revealed plans to continue accumulating more, using gains from its DeFi activities. Notably, the company stated that it will purchase XRP on the open market, which is expected to impact the altcoin’s price. Meanwhile, the SEC is expected to approve the spot XRP ETFs once the U.S. government shutdown ends. This could drive new liquidity into the altcoin, boosting its price. Moreover, experts such as Canary Capital’s CEO Steven McClurg have predicted that the XRP ETFs could see more inflows in their first month than the Ethereum ETFs did. XRP Is Gearing Up For A ‘Face Melting’ Rally Crypto analyst Ether stated that XRP is quietly gearing up to melt faces and that most aren’t even aware or ready for what is coming. This came as the analyst alluded to an earlier analysis, in which he revealed that a similar scenario from a previous cycle was playing out for the altcoin. Related Reading: Why This Crypto Analyst Now Believes XRP Price At $21 Is No Longer A Dream Ethere stated that XRP’s cyclical structure is showing a striking similarity again. After the altcoin’s rally in 2017, its price was rejected from the 2013 all-time high (ATH) level and then retested the 2014 ATH level, which had previously acted as resistance. XRP then began its parabolic run after it accumulated strength in that range. Now, this same XRP price action is playing out again, according to Ether. He noted that after the strong surge in 2024, the altcoin’s price was rejected at the 2017 ATH level and retested the 2021 ATH level, which had previously acted as resistance. The analyst added that the power accumulation phase is now underway in this region and that once it is complete, the next parabolic run will be inevitable. At the time of writing, the XRP price is trading at around $2.63, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
Amid a challenging period for the XRP price, which has seen a decline of 24% over the last two weeks, Ripple Labs, the blockchain payment company, has announced plans to raise at least $1 billion for a major XRP purchase, intended for the establishment of a new digital asset treasury (DAT). Ripple Plans Largest Fundraising Effort According to sources cited by Bloomberg, the capital will be managed within this new treasury, and Ripple plans to utilize a special purpose acquisition company (SPAC) to facilitate the fundraising. Additionally, the company will contribute some of its own XRP holdings to bolster the effort. However, investor sentiment towards DATs has become increasingly cautious, as evidenced by the sharp declines in shares of major crypto firms, including Michael Saylor’s Strategy (previously MicroStrategy) and Japan’s Metaplanet. Related Reading: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds Despite this skepticism, Ripple Labs is pressing forward with its ambitious fundraising plans, which, if successful, would mark the largest effort focused specifically on XRP. Currently, XRP stands as the fifth-largest cryptocurrency, boasting a market capitalization of $138 billion. In a related strategic move, Ripple announced on Thursday the acquisition of treasury management software provider GTreasury for $1 billion. This acquisition is seen as a way to strengthen its connections with corporate finance leaders and treasurers seeking access to tokenized deposits, stablecoins, and other digital assets. As of July 31, Ripple held 4.74 billion XRP tokens in its wallets, valued at approximately $11 billion at current market prices. Additionally, another 35.9 billion XRP coins are under escrow lockups, scheduled for monthly releases. Potential 350% Rally Ahead For XRP This potential catalyst could signal a recovery phase for XRP. Market expert Dark Defender noted on social media platform X (formerly Twitter) that the correction had completed at the $2.22 level, which was established in August, suggesting that the “Journey Towards $10 Resumes.” Despite the current market panic, the expert reassures investors that the altcoin is entering a new recovery phase, with the $2.22 mark representing a crucial threshold for the short-term price action. Related Reading: October 10th Crypto Crash: Expert Foresees New Wave Of Lawsuits Against ‘Manipulators’ According to the expert’s analysis, this scenario could lead to a significant rally of 340% in the coming months, on top of the already impressive 320% gains recorded year-to-date. As of this writing, XRP is trading at around $2.26, resting on a critical support level as October draws to a close. Should this level falter, and if the $2.4 support fails to prevent further declines, XRP could retrace back toward the $1.2 level, the price reached during the market crash on October 10. Featured image from DALL-E, chart from TradingView.com
The distributor is rolling out an XRPL-powered system for 6,500 pharmacies to speed up payments, cut costs, and expand blockchain use in healthcare finance.