Ripple Labs' (XRP) Acquisition of Hidden Road Promises New Horizons for the Token

The previous week in the crypto industry saw major reports surrounding XRP and bullish developments related to the coin.

The previous week in the crypto industry saw major reports surrounding XRP and bullish developments related to the coin.

Although the price of XRP has been slow to react to these developments, proponents remain hopeful that the token’s future is bright and that higher prices will eventually emerge.

Major XRP Development from Ripple’s Lawsuit

One of the most pivotal XRP-related events from last week was the agreement between Ripple and the SEC to pause their appeal processes. Both parties are now pursuing agreeable settlement terms.

Notably, Ripple has negotiated reduced fines from the SEC as well as the lifting of its ban on future XRP sales to institutions. While the agency has temporarily agreed to this request, the agreement is still subject to a vote from the SEC commissioners.

Final approval would end the nearly five-year-long lawsuit, an outcome many see as highly bullish for XRP.

Ripple’s Biggest Deal Ever and What It Means for XRP

Beyond legal developments, XRP also experienced a major milestone on the partnership front last week. The most significant of these was Ripple’s announcement of its largest acquisition to date: the purchase of Hidden Road for $1.25 billion.

Ripple’s Chief Technology Officer, David Schwartz, confirmed that the acquisition would significantly benefit XRP’s blockchain, the XRP Ledger (XRPL), and, by extension, its native token, XRP.

Some analysts have speculated that this development could allow the XRP Ledger to handle $1.5 trillion in annual transaction volume. Such a high level of capital flow through XRPL is viewed as highly bullish for the XRP coin.

Interestingly, XRP enthusiasts have highlighted Ripple CEO Brad Garlinghouse’s comment that the deal could help financial institutions like BlackRock enter the crypto space more easily. His mention of BlackRock sparked speculation about a potential partnership.

XRP ETF Debut

Additionally, an XRP ETF debuted in the U.S. market last week with significant momentum. Notably, this was the XXRP, a 2x leveraged ETF by Teucrium. On its first day of trading, it recorded a massive $5.4 million turnover, even in a largely bearish market. This figure was four times higher than that of a Solana ETF on its debut day.

This impressive ETF launch attracted industry-wide attention, with many interpreting it as further confirmation that demand for XRP products in the U.S. is underestimated. Commentators like John Deaton used the moment to suggest that XRP could rise in value to become the second-largest cryptocurrency after Bitcoin.

Bold Price Prediction from a Multinational Bank

Also last week, the XRP community welcomed bold price predictions from Standard Chartered, a multinational bank. Notably, the bank projected that XRP could reach $5.50 in 2025, which would mark a new all-time high.

Looking further ahead, the bank forecasted that XRP could surpass $12 by 2028.