XRP (XRP) fell 1.62% in the last 24 hours.

Gate News Bot news, on October 23, according to CoinMarketCap data, as of the time of publication, XRP (XRP) is currently priced at $2.38, with a fall of 1.62% in the last 24 hours, reaching a high of $2.54 and a low of $2.20. The 24-hour volume has reached $4.382 billion. The current market capitalization is approximately $142.664 billion, a decrease of about $2.354 billion compared to yesterday.

XRP Ledger (XRPL) is a decentralized public blockchain led by a global community of businesses and developers committed to solving problems and creating value. XRPL has proven its reliability over more than a decade of error-free operation, offering simplified development, low transaction costs, high performance, and sustainability. Therefore, developers can confidently build on it and advance the most critical projects.

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 affect the supply and demand dynamics of XRP, potentially driving its price up.

2️⃣ CME launches XRP options trading

The Chicago Mercantile Exchange (CME) has officially launched XRP options trading, marking further integration of XRP into the traditional financial market. 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, CME's introduction of XRP options is of significant importance for the market recognition of XRP.

3️⃣ Ripple launches $200,000 “Attackathon” security test

Ripple has partnered with Immunefi to launch a security testing event called “Attackathon,” with a total prize pool of up to $200,000. The event aims to test the security of the native lending protocol that will soon be launched on the XRP Ledger. This initiative not only highlights Ripple's emphasis on the security of the protocol but also signals that the XRPL ecosystem is about to welcome significant functional expansions, which are expected to further enhance the application scenarios and value of XRP.

From a technical perspective, XRP is currently fluctuating around a price of $2.38, with a key support level near $2.30. If this level can be held, it may provide a basis for a subsequent rebound. On the fundamental side, Ripple Labs' large-scale XRP accumulation plan, the launch of CME options trading, and the upcoming launch of the XRPL lending protocol 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 fluctuations that may occur in the short term.

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