XRP (XRP) fell 0.34% in the last 24 hours.

Gate News Bot news, on October 28, according to CoinMarketCap, as of the time of publication, XRP (XRP) is currently priced at $2.65, down 0.34% in the last 24 hours, with a high of $2.69 and a low of $2.34. The 24-hour volume reached $496 million. The current market capitalization is approximately $15.875 billion, a decrease of about $53.7 million compared to yesterday.

Important news about XRP recently:

1️⃣ Evernorth Holdings is accumulating XRP on a large scale Evernorth Holdings has accumulated 388,710,606.03 XRP, worth approximately $994 million, making it one of the major institutional investors in XRP. The company plans to go public through a merger with Armada Acquisition Corp II's SPAC, aiming to raise over $1 billion to expand its XRP reserves. Currently, Evernorth has invested $947 million to establish the reserves, with an average purchase price of about $2.44 for its XRP.

2️⃣ Indian court rules cryptocurrency as property The Madras High Court in India ruled that cryptocurrencies constitute property protected by the constitution, preventing WazirX from reallocating users' XRP assets. The court stated that although cryptocurrencies “are neither tangible property nor currency,” they “are a form of property that can be enjoyed and owned beneficially.” This ruling establishes the legal status of crypto assets as property, providing important support for the legitimacy of cryptocurrencies like XRP.

3️⃣ CME Group XRP futures volume surges Data disclosed by the CME shows that since the launch of XRP and micro XRP futures in May, over 567,000 futures contracts have been traded, with a notional trading volume reaching $26.9 billion. This data reflects the rapid growth of XRP in the derivatives market, further enhancing its status and liquidity in the traditional financial sector.

From a technical perspective, XRP's current price is fluctuating around $2.65. If it can break through the resistance level of $2.69, it may open up further upside potential. On the fundamental side, large-scale accumulation by institutional investors, the establishment of legal status, and the prosperity of derivative trading provide strong development momentum for XRP. However, investors still need to closely monitor the overall cryptocurrency market trends and potential regulatory changes.

This message is not intended as investment advice; investors should be aware of market volatility risks.