XRP (XRP) fell 3.28% in the last 24 hours.

Gate News Bot news, on October 30, according to CoinMarketCap data, as of the time of writing, XRP (XRP) is currently priced at $2.54, falling 3.28% in the last 24 hours, with a high of $2.69 and a low of $2.39, and a 24-hour volume of $5.803 billion. The current market capitalization is approximately $152.211 billion, a decrease of $5.155 billion compared to yesterday.

The XRP Ledger (XRPL) is a decentralized, public blockchain, led by a global community of businesses and developers, aimed at solving problems and creating value. After over 10 years of error-free operation, the XRPL offers simplified development, low transaction costs, high performance, and sustainability. It has advantages such as being public and decentralized, simplified development, high performance, low costs, an active community, and verified reliability. The XRPL supports features such as decentralized exchanges, cross-currency payments, payment channels, multi-signature, and tokens, providing developers with a robust infrastructure.

Important news about XRP recently:

1️⃣ Evernorth Holdings is accumulating XRP on a large scale Evernorth Holdings has accumulated nearly 389 million XRP, worth over $1 billion, becoming one of the major institutional investors in XRP. The company plans to go public through a SPAC merger, aiming to raise over $1 billion to expand its XRP reserves. Currently, Evernorth has invested $947 million to establish reserves, with an average purchase price of approximately $2.44 for its XRP. This large-scale accumulation reflects strong confidence from institutional investors in XRP and may form long-term support for the XRP price.

2️⃣ Indian Court Establishes Status of Cryptocurrency as Property The Madras High Court in India ruled that cryptocurrencies constitute property protected by the constitution, blocking exchanges from reallocating users' XRP assets. The court stated that cryptocurrency is a form of property that can be enjoyed and owned. This ruling provides significant support for the legal status of cryptocurrencies like XRP in India, facilitating their development in the country's market.

3️⃣ CME Group XRP futures volume surges Since the launch of XRP and micro XRP futures in May, the CME Group has traded over 567,000 futures contracts, with a notional value of $26.9 billion. This data reflects the rapid growth of XRP in the derivatives market, further enhancing its position and liquidity in the traditional financial sector, and helping to attract more institutional investors to participate.

From a technical perspective, XRP is currently fluctuating around a price of $2.54, with a key support level near $2.39. On the fundamental side, the large-scale accumulation by institutional investors, the establishment of its legal status, and the prosperity of derivative trading provide strong growth momentum for XRP. However, investors should closely monitor the overall trends in the cryptocurrency market and potential regulatory changes.

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