By acquiring Circle, Ripple increases the use of XRP.
Kate Young Ju, a pseudonymous alternate X account associated with Ki Young Ju, the founder of the on-chain analytics platform CryptoQuant, recently addressed several trending topics in a new post.
The analyst commented on XRP, “XRP resembles a group of capital market professionals. While it has its flaws, its market movements are undeniably sharp and calculated.”
Addressing the circulating rumors involving Ripple and Circle, the post suggested that if Ripple were to acquire the stablecoin issuer, it would represent a highly strategic move. Circle has reportedly initiated informal discussions with both Coinbase and Ripple about a possible acquisition deal.
Circle is seeking a valuation of at least $5 billion, which aligns with its goals for an initial public offering (IPO).
The analyst pointed out that major market players anticipating Circle’s IPO could potentially support XRP in the future, given the growing demand for stablecoins in both the crypto and traditional financial sectors.
“If the rumors about Ripple increases acquiring Circle are true, it could be a game-changing strategy,” the post noted. “Investors who are waiting for Circle’s IPO might instead turn to XRP, driven by their confidence in the future of the stablecoin market.
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