tl;dr
Ripple, a prominent crypto technology company, has reportedly withdrawn its investments in Bitstamp and Tranglo, according to Crunchbase. The reasons for the exit from Bitstamp are unclear, but it may be linked to Robinhood's recent acquisition of Bitstamp. Ripple's acquisition of Bitstamp last year...
Ripple has reportedly withdrawn its investments in Bitstamp and Tranglo, according to data from Crunchbase. The reasons behind the exit from Bitstamp are unclear, but it may be linked to Robinhood's recent acquisition of Bitstamp. Ripple's stake acquisition in Bitstamp last year aimed to expand its global presence. Tranglo, in which Ripple held a 40% stake, is still mentioned as a partner on Ripple's website. Despite the news, XRP's price increased by 2% in the past 24 hours, currently trading at $0.532. However, trading volume has decreased by 45% due to profit booking after a 26% rally in a week. Total XRP futures open interest has increased by 1% to 1.27 billion, but investors are expected to book profits as futures open interest drops more than 1% on Binance.
Ripple, a leading crypto technology company, has apparently exited its investments in crypto exchange Bitstamp and cross-border payment hub Tranglo. The exact reasons behind the exit from Bitstamp remain unclear, but Robinhood’s recent $200 million acquisition of Bitstamp could be a factor. Ripple acquired crypto exchange Bitstamp last year from Pantera Capital. Ripple president Monica Long described the stake acquisition in Bitstamp as a major move to grow its global presence and go beyond payments. Tranglo's inclusion among the companies Ripple has exited has raised doubts and concerns in the community. Notable XRP community experts have said that further confirmation of the data is needed as the details are not available elsewhere.
Ripple still mentions Tranglo as a partner on its website and holds a 40% stake in the company. Tranglo utilizes XRP for on-demand liquidity. Traders did not immediately respond to the news. XRP's price jumped 2% in the past 24 hours and is currently trading at $0.532. The 24-hour low and high are $0.521 and $0.539, respectively. However, trading volume has decreased by 45% due to profit booking after a more than 26% rally in a week. Total XRP futures open interest has increased by 1% to 1.27 billion after a 19% rise last week. Investors are booking profits as expected as futures open interest drops more than 1% on Binance.
More about BlackRock Inc
BlackRock Inc Stock Analysis
BlackRock, Inc. is currently trading in the range of $20.10 to $39.33.
The stock's 52-week high is at $123.09, with a 52-week low of $21.05.
The trading volume is at 18,343,999, with a market capitalization of $123,036,336,000.
The Relative Strength Index (RSI) is at 37.2, indicating a neutral position.
The stock has a 0.323 beta, suggesting a moderate correlation with the market.
BlackRock, Inc. has a support level at $20.10 and a resistance level at $39.33.
Based on the data, the stock is currently in a neutral position with potential for a breakout in either direction.