- XRP has been tipped for a significant upsurge as crypto maximalist outlines eight institutional giants that have declared their treasury plans.
- The rising interest, coupled with other factors, has been predicted to fuel an explosive run to $17.
Crypto maximalist, Bull Diep, has pointed out that the significant increase in XRP adoption and the rising Institutional interest could have a massive impact on the price once each company decides to stake on the Flare Network.
The Details
According to the information shared in an X post, Diep outlined the recent decision of Singapore-based Web3 company, Trident Digital Tech Holdings, to start an XRP treasury of up to $500 million. In relation to this, the company’s founder, Soon Huat Lim, recently disclosed that this initiative underscores its belief in blockchain technology to potentially transform capital allocation and cross-border payments.
Through this initiative, Trident aims to demonstrate how public companies can thoughtfully and responsibly participate in the ongoing development of decentralised finance.
In the post, Diep also mentioned the decision of Chinese AI firm Webus to invest $300 million in XRP. As featured in our recent coverage, this amount is expected to go into its XRP reserves as part of the plans to redefine and transform its cross-border value transfer. In that report, CEO Nan Zheng explained that its investment in XRP could create a powerful “synergy between domestic and international operations”.
Meanwhile, Diep also believes that VivoPower’s $121 million investment in XRP could impact the price in the long run. As indicated in our earlier discussion, this move was motivated by the decision to invest in XRP Ledger (XRPL) Decentralised Finance (DeFi) ecosystem to reduce debt and for generating corporate purposes.
Further highlighting the rising XRP interest among institutional investors, Florida-based pharmaceutical distribution company Wellgistics was cited to have secured a $50 million credit line to support payment and Treasury management using XRP.
As we covered in our latest report, XRP could largely be used as a real-time payment tool. Apart from these, other companies listed to have adopted XRP are Hyperscale ($10 million), Worksport ($5 million), BC Bud ($250k), Digital Comm. ($225k).
Commenting on this, Chief Analyst at Bitget Research Ryan Lee predicted that XRP is on the verge of breaking out to $5 in the near term.
The surge in corporate XRP treasuries signals a growing institutional embrace of XRP for its low-cost, high-speed payment capabilities.
XRP Price Analysis
Amidst the backdrop of this rising interest, the price of XRP has been trading sideways as market momentum flips from bullish to neutral. At the time of writing, the asset was down by 4.7% in the last 24 hours, 0.09% in the last seven days, 17% in the last 30 days, 11% in the last 90 days, and 7.9% from year to date.
According to our recent analysis, XRP could stage a rebound to hit at least $10 from the current level. Meanwhile, analyst Egrag Crypto believes that XRP could hit $17 this cycle. As explained in our last analysis, the renowned crypto trader pointed out that the journey to this unprecedented height could be validated by a decisive move above the $3.5 level.
