XRP (XRP) 24-hour pump 1.91%, 24-hour volume 3.276 billion USD

Gate News Bot news, on October 24, according to CoinMarketCap, as of the time of writing, XRP (XRP) is currently priced at $2.43, rising by 1.91% in the last 24 hours, reaching a high of $2.54 and a low of $2.20, with a 24-hour volume of $3.276 billion. The current market capitalization is approximately $145.985 billion, an increase of $2.736 billion compared to yesterday.

The XRP Ledger (XRPL) is a decentralized public blockchain led by a global community of businesses and developers, dedicated to solving problems and creating value. After more than a decade of error-free operation, the XRPL offers simplified development, low transaction costs, high performance, and sustainability. The main advantages of the XRPL include public transparency and decentralization, simplified development, high performance, low costs, active community support, and proven reliability. It supports powerful features such as decentralized exchanges, cross-currency payments, payment channels, multi-signatures, and tokens, providing developers with a rich array of application scenarios.

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 a portion 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 a 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 leading derivatives exchange globally, CME's introduction of XRP options is of significant importance to the market recognition of XRP.

3️⃣ XRP market performance fluctuates but overall is positive The price of XRP has shown significant volatility over the past few days. Despite a drop of 1.62% on October 23, it quickly rebounded, with the latest data showing a 24-hour rise of 1.91%. This price resilience reflects the market's ongoing confidence in XRP, which may be related to its positive developments in legal and technical aspects.

From a technical perspective, XRP is currently fluctuating around the price of $2.43. If it can hold the support level at $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 development momentum for XRP. However, investors still need to closely monitor the overall cryptocurrency market trends and potential regulatory changes, as well as the price volatility that may occur in the short term.

This message does not constitute investment advice; investors should be aware of market volatility risks.