Source: CoinMarketCap
Differently, Ripple’s buyback announcement of January 2024 caused a subsequent surge in XRP price by 12%.
On X (formerly Twitter), users expressed dissatisfaction with the buyback offering, saying it only benefits shareholders and not XRP holders. Others suggested misappropriation of money raised from XRP token sales to conduct the tender offer.
Nevertheless, some analysts believe Ripple’s higher valuation could push XRP towards the range of $2.80-$5.00 before year’s end. These persons also cite XRP ETF inflows as another catalyst for their bullish call. Currently, Goldman Sachs is the largest holder of XRP ETF shares at $154 million.
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