However, investor sentiment towards DATs has become increasingly cautious, as evidenced by the sharp declines in shares of major crypto firms, including Michael Saylor’s Strategy (previously MicroStrategy) and Japan’s Metaplanet.
In a related strategic move, Ripple announced on Thursday the acquisition of treasury management software provider GTreasury for $1 billion. This acquisition is seen as a way to strengthen its connections with corporate finance leaders and treasurers seeking access to tokenized deposits, stablecoins, and other digital assets.
This potential catalyst could signal a recovery phase for XRP. Market expert Dark Defender noted on social media platform X (formerly Twitter) that the correction had completed at the $2.22 level, which was established in August, suggesting that the “Journey Towards $10 Resumes.”
According to the expert’s analysis, this scenario could lead to a significant rally of 340% in the coming months, on top of the already impressive 320% gains recorded year-to-date.
As of this writing, XRP is trading at around $2.26, resting on a critical support level as October draws to a close. Should this level falter, and if the $2.4 support fails to prevent further declines, XRP could retrace back toward the $1.2 level, the price reached during the market crash on October 10.
Featured image from DALL-E, chart from TradingView.com
