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XRP Dumps 10% Despite Ripple’s $1.25B Prime Brokerage Acquisition
Ripple has made a significant move in the cryptocurrency market by acquiring prime brokerage, clearing and financing platform Hidden Road for $1.25 billion. However, despite this massive deal, XRP has experienced a significant downturn, losing around 10% over the past 12 hours.
The acquisition of Hidden Road is expected to have a profound impact on the crypto space, as it will allow Ripple to tap into the traditional financial markets and bring about increased liquidity for its native token. Furthermore, this partnership will enable the company to offer a range of new services to its clients, including clearing and financing options.
Despite these promising developments, the XRP market has experienced a downturn, falling from an intraday high of nearly $2 to $1.73 during the Wednesday morning Asian trading session.
Source: https://cryptopotato.com/xrp-dumps-10-despite-ripples-1-25b-prime-brokerage-acquisition/
