XRP (XRP) has risen 1.21% in the last 24 hours.

Gate News Bot news, on October 20, according to CoinMarketCap data, XRP (XRP) is currently priced at $2.37, with a 1.21% rise in the last 24 hours, reaching a high of $2.65 and a low of $2.24. The 24-hour volume is $3.553 billion. The current market capitalization is approximately $142.376 billion, with an increase of $1.705 billion compared to yesterday.

Important news about XRP recently:

1️⃣ Ripple Labs leads a $1 billion plan to establish an XRP treasury Ripple Labs is leading a major financing initiative, aiming to raise at least $1 billion through a special purpose acquisition company to accumulate XRP. The funds will be held 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 rise.

2️⃣ CME launches XRP options trading The Chicago Mercantile Exchange (CME) has officially launched XRP options trading, marking further integration of XRP into traditional financial markets. This move is expected to attract more institutional investors to participate in XRP trading, enhancing its market liquidity and price discovery efficiency. As a leading global derivatives exchange, CME's introduction of XRP options is significant 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 protocol security but also indicates 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 the price of $2.37, with key support at around $2.30. If it can hold this level, 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's development. However, investors still need to closely monitor the overall cryptocurrency market trends and potential regulatory changes, as well as possible price fluctuations in the short term.

This message is not an investment advice, and investors should be aware of market volatility risks.