The Tokyo company Gumi has officially announced the acquisition of 17 million XRP, making it a central part of its expansion strategy in Blockchain. This deal came after the completion of a five-year lawsuit between Ripple and the US SEC, which led to increased institutional demand due to clarified regulations. Technical Analysis shows that XRP is forming a bullish flag, and if it overcomes the key resistance level of $2.825, it could pave the way for a rise of 75% to a target level of $5. The Derivatives Market indicates that long positions total $77 million, but the increase in reserves on the exchange by 61 million XRP also signals a risk of selling.
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The Tokyo company Gumi has officially announced the acquisition of 17 million XRP, making it a central part of its expansion strategy in Blockchain. This deal came after the completion of a five-year lawsuit between Ripple and the US SEC, which led to increased institutional demand due to clarified regulations. Technical Analysis shows that XRP is forming a bullish flag, and if it overcomes the key resistance level of $2.825, it could pave the way for a rise of 75% to a target level of $5. The Derivatives Market indicates that long positions total $77 million, but the increase in reserves on the exchange by 61 million XRP also signals a risk of selling.