XRP (XRP) up 3.83% in the last 24 hours

Gate News Update: As of November 6th, according to CoinMarketCap data, XRP (XRP) is currently trading at $2.33, up 3.83% over the past 24 hours. The price reached a high of $2.59 and a low of $2.08 during this period, with a 24-hour trading volume of $5.983 billion. Its current market capitalization is approximately $139.75 billion, an increase of $5.15 billion from yesterday.

XRP Ledger (XRPL) is a decentralized public blockchain led by a community of global businesses and developers, aimed at solving problems and creating value. With over 10 years of error-free operation, XRPL demonstrates reliability, offering simplified development, low transaction costs, high performance, and sustainability. It enables developers to confidently build projects and advance key initiatives.

Recent Important XRP News:

1️⃣ Ripple Completes $500 Million Funding Round, Valuation Reaches $40 Billion

Ripple has secured $500 million in funding, boosting its valuation to $40 billion. The round was led by funds managed by Fortress Investment Group, Citadel Securities, Pantera Capital, among others. This significant investment reflects strong investor confidence in Ripple and its associated cryptocurrency XRP, potentially bringing more resources and growth opportunities to the XRP ecosystem.

2️⃣ Indian Court Establishes XRP’s Legal Status

The Madras High Court in India ruled that XRP is property protected under criminal law. This decision provides important legal support for XRP’s status in the Indian market, facilitating its lawful use and trading within the country, and potentially promoting wider adoption and application of XRP in India.

3️⃣ Franklin Templeton Accelerates XRP ETF Application Process

Franklin Templeton has submitted an updated S-1 filing for an XRP ETF, shortening certain clause content, with plans to launch within this month. This indicates that the approval process for a spot XRP ETF is moving faster, and if approved, could attract more institutional investors, positively impacting XRP’s price and market liquidity.

From a technical perspective, XRP is currently oscillating around $2.33, with a key support level at $2.25 in the short term. Fundamentally, successful fundraising, legal recognition, and ETF development provide multiple positive catalysts for XRP. However, investors should remain vigilant to overall crypto market trends and potential regulatory changes.

Please note: This information is not investment advice. Market volatility and risks should be carefully considered.