Despite Yet to See a Major Price Rally Following Ripple's Acquisition of Hidden Road

Although XRP has yet to see a major price rally following Ripple's acquisition of Hidden Road, market sentiment remains optimistic about its potential to climb higher.

Cryptocurrency market sentiment remains optimistic about XRP's potential to climb further, even though the currency has yet to see a major price rally following Ripple's massive acquisition of prime brokerage firm Hidden Road.

On Tuesday, Trump's administration placed tariffs on goods from China, triggering a sell-off in the stock market and denting market sentiment.

The latest development saw Teucrium launch its 2x Long Daily Harvest ETF (NYSE: XXRP) on Monday, offering a leveraged opportunity to bet on the cryptocurrency's price movements.

This marks a significant step for XRP investors, as the Teucrium 2x Long Daily Harvest ETF is the first-ever ETF focused on XRP in the U.S.

The 2x XRP ETF will track double the daily price performance of the fourth-largest digital asset, making it an intriguing choice for traders with strong views on XRP's short-term future.

Its arrival also comes amid reports of several spot Bitcoin ETF applications pending approval by the U.S. Securities and Exchange Commission.

However, this latest move by Teucrium takes a different approach by launching a leveraged ETF on a new asset while its spot product is still pending.

"We’re applying for a spot bitcoin ETF. Our odds are pretty high. Stay tuned!" the firm stated on X (formerly Twitter) earlier this month.

The short-term impact of the acquisition plan is yet to be felt in the price of XRP. At the time of publication, XRP traded at $1.88, down 12% in the weekly chart, according to CoinMarketCap.

This integration will allow institutional clients to seamlessly manage positions across both crypto and traditional instruments.

"We believe that Hidden Road's capabilities in structuring and executing capital market solutions, combined with Ripple's real-world use cases and technology, will unlock tremendous value for both institutions and society at large," said Greg Knower, Head of Capital Markets at Ripple.

"This move by Ripple is a natural progression in the evolution of global finance, and we're excited to see what the future holds."

Standard Chartered sees Ripple well-positioned in this shift. The bank's latest report forecasts XRP could hit $12.50 by 2028, citing its central role in cross-border payments and expected demand for regulated digital asset solutions.

XRP is currently trading near $1.93, up over 7% following the announcement.

"We are still early in the adoption of tokenization and digital assets. But the U.S. administration appears to be aiming to create an environment where such trends can flourish," a Standard Chartered official noted.

The integration of Hidden Road's client base and infrastructure could also broaden XRPL's role in tokenizing everything from bonds to commodities.

Last year, Ripple partnered with UK-based Archax to launch a tokenized money market fund on XRPL.

Now, with Hidden Road's vast client base and sophisticated capital markets capabilities, Ripple could massively expand the adoption of XRPL and its ecosystem.

"Together, Hidden Road and Ripple are bringing the promise of digital assets to institutional customers at scale, bridging the gap between the traditional and new worlds of finance."

If successful, the Hidden Road acquisition could cement XRPL as a backbone for a tokenized, blockchain-compatible financial system. It will be interesting to observe how this unfolds in the coming months.

The above is the detailed content of Despite Yet to See a Major Price Rally Following Ripple's Acquisition of Hidden Road. For more information, please follow other related articles on the PHP Chinese website!