XRP Falls 16.7% as Ripple Announces $1B GTreasury Acquisition

The cryptocurrency trades at $2.38 amid news of Ripple’s major acquisition and upcoming ETF filing deadline on October 18.

XRP

Summary

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Terms & Concepts
  • XRP: The native cryptocurrency of the XRP Ledger, used for cross-border payments and associated with Ripple.
  • Exchange-Traded Fund (ETF) Filing: A formal application to a regulatory body to launch an investment fund traded on exchanges, in this case focused on XRP.
  • GTreasury Acquisition: Ripple's purchase of GTreasury, a treasury management software provider, reportedly valued at $1 billion.