Key facts: XRP Price Volatility Follows $19B Liquidation; Ripple Seeks $1B
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- XRP's price fluctuated after a significant liquidation in crypto markets, wiping out $19 billion in positions. It fell below $1.6 but later rebounded above $2.2.1
- Ripple Labs aims to raise about $1 billion to create a new XRP treasury, using a special vehicle for outside investment and its own XRP assets, following its GTreasury acquisition.2
- On-chain data shows a rise in transactions over $1 million, hinting at institutional buying of XRP. Additionally, XRP exchange reserves dropped nearly 5%, signaling bullish investor behavior.3