Why Is Ripple’s Price Up Today if Whales Are Selling XRP En Masse?

Ripple's native token, XRP, has demonstrated resilience against the prevailing market sluggishness, marking an impressive 5% increase to reach an 11-day high of over $2.56.

This surge occurred at a particularly unexpected moment, as data from Ali Martinez indicates that whales have continued to offload substantial portions of their XRP holdings, disposing of an additional 70 million tokens within a two-day span.

Strategic Acquisition of Hidden Road Finalized

A primary driver for today's price uptick appears to be the official confirmation by Ripple of its largest acquisition to date: Hidden Road, a prime broker that was acquired earlier this year for $1.25 billion.

The company and its CEO announced yesterday that the extensive acquisition process has been successfully concluded, and Hidden Road's platform will now operate under the name Ripple Price.

Following the initial announcement in April, analysts were quick to share their perspectives, with many believing the acquisition would be a "game-changer" for XRP due to its integration into Ripple Prime.

Ripple has stated that it has now become the first crypto entity to "own and operate a global, multi-asset prime broker – bringing the promise of digital assets to institutional customers at scale."

Impact of US CPI Data on XRP

Another potential contributing factor to XRP's notable increase could be linked to the US CPI data released yesterday. As previously reported, the September figures came in lower than anticipated. This development is theoretically beneficial for risk-on assets, including certain altcoins, as it could lead the US Federal Reserve to consider lowering interest rates.