XRP, the cryptocurrency of digital payment company Ripple, plunged over 3.3% during Thursday’s U.S. market session. This downtick forms a new lower high formation in the daily chart, signalling the continuation of the prevailing correction. While the broader market sentiment supports this downturn, the increasing appeal of XRP in the corporate landscape offers a contrasting narrative. $3 or $ 1.80, what’s awaiting this altcoin in June?
Trident Digital Tech Unveils $500M XRP Treasury Initiative
Trident Digital Tech Holdings Ltd., a Singapore-based technology optimization services company, has announced its initiative to raise $500 million to create one of the world’s first large-scale corporate XRP Treasuries. According to the press release, the company has appointed Chaince Securities LLC as the strategic advisor.
The treasury’s initiative will focus on acquiring XRP tokens and deploying a staking mechanism for yield generation. Trident plans to collaborate on infrastructure and application projects to further its commitment to advancing decentralized finance (DeFi).
The company plans to raise this capital by a combination of equity issuance, strategic placements, and structured financing instruments. Trident is currently in discussion with major crypto foundations and institutional partners to determine favorable terms for token acquisition and sustainable on-chain infrastructure.
The initial rollout of the XRP treasury is slated for the second half of 2025, awaiting regular approval. Such increasing corporate appeal and accumulation of XRP will boost significant demand for this asset.
XRP Price Head and Shoulder Pattern Hints Major Breakdown
Over the last three days, the Ripple cryptocurrency has declined from $2.33 to $2.19, representing a 6% decrease in its current trading value. This downtrend followed the broader market correction as Bitcoin failed to sustain above the $110,000 mark.
Historically, the chart setup has acted as a major pivot point for sellers to initiate sustained correction. If this theory holds, the XRP price is likely to slip another 5.75% to challenge the neckline support of $2.07.
A potential breakdown with a daily candle closing below will accelerate the bearish momentum and drive a 22% fall to hit 1.61 support.
However, the 200-day exponential moving average currently defends the $2.07 neckline, accentuating that the broader market is bullish. If the support holds, the coin price could shift sideways and recuperate the bullish momentum for the next leap.
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