XRP (XRP) fell 0.54% in the last 24 hours.

Gate News Bot message, on October 22, according to CoinMarketCap data, XRP (XRP) is currently priced at $2.39, having fallen by 0.54% in the last 24 hours, with a high of $2.54 and a low of $2.20. The 24-hour volume reached $4.889 billion. The current market capitalization is approximately $143.595 billion, a decrease of $78.4746 million compared to yesterday. Currently, XRP ranks 5th in the market capitalization of Crypto Assets.

The XRP Ledger (XRPL) is a decentralized public blockchain led by a global community of enterprises and developers, aimed at solving problems and creating value. The XRPL has over 10 years of error-free operation, providing streamlined development, low transaction costs, high performance, and sustainability. It is open-source, allowing anyone to build applications on it, maintained by the community. The XRPL can process thousands of transactions per second, with transaction costs being just a fraction of a cent, enabling it to support a wide range of blockchain use cases.

Important news about XRP recently:

1️⃣ Ripple Labs leads a $1 billion XRP accumulation plan

Ripple Labs is leading a significant financing initiative, aiming to raise at least $1 billion through a special purpose acquisition company to accumulate XRP. These funds will be stored in a new digital asset vault, and Ripple will also contribute some of its own XRP tokens. This move could significantly impact the supply and demand dynamics of XRP, potentially driving its price up.

2️⃣ CME launches XRP options trading

The Chicago Mercantile Exchange (CME) officially launched XRP options trading, marking further integration of XRP into traditional financial markets. This initiative is expected to attract more institutional investors to participate in XRP trading, enhancing its market liquidity and price discovery efficiency. As a global leader in derivatives exchanges, the launch of XRP options by CME is of significant importance to the market recognition of XRP.

3️⃣ XRP market performance fluctuates

The price of XRP has experienced significant fluctuations over the past few days. On October 21, XRP rose by 2.82%, reaching a high of $2.45. However, there was a subsequent pullback, with the latest data showing a 24-hour fall of 0.54%. This price volatility reflects the market's ongoing interest in XRP while also reminding investors to be cautious in responding to short-term market fluctuations.

From a technical perspective, XRP is currently fluctuating around the price of $2.39. If it can hold the support level of $2.30, it may provide a foundation for a subsequent rebound. On the fundamental side, Ripple Labs' large-scale XRP accumulation plan and the launch of CME options trading provide long-term momentum for XRP. However, investors still need to closely monitor the overall Crypto Assets market trends and potential regulatory changes, as well as possible price fluctuations in the short term.

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