XRP price predictions after rumors of a deal between Ripple and Circle regarding stablecoins, will the price of XRP reach $1,000?
Cryptonews - Ripple may expand its presence in the stablecoin market with an ambitious project amid reports of its intention to acquire Circle, the second-largest issuer of stablecoins.
Rumors of a potential acquisition of Circle Internet Financial - the company responsible for issuing the USDC stablecoin - have injected new momentum into XRP, leading to a 5% increase in its value and enhancing the positive outlook on XRP price predictions.
Nevertheless, this news seems not to have resonated as it should. On the contrary, the price of XRP has since fallen to $2.35, alongside a 25% decrease in trading volume during the 24 hours following the report.
With continued cautious sentiment among many investors and the existence of other competing projects, XRP has not yet provided indications that it has become the best cryptocurrency to buy at this time.
On the other hand, the inflation data for April - which came in better than expected - improved the overall market sentiment, but Federal Reserve Chairman Jerome Powell's refusal to lower interest rates dampened risk appetite, keeping the market in a state of cautious optimism.
Ripple wants to acquire Circle, but it faces fierce competition.
While Circle is committed to its plan for an IPO, reports from Fortune magazine about informal talks with Coinbase (NASDAQ:COIN) and Ripple indicate that it is exploring several offers.
Sources from the banking and private investment sectors reported that Circle is seeking to raise at least $5 billion, the same valuation it is targeting in its IPO. Notably, Ripple previously made an offer ranging from $4 to $5 billion, which was rejected as being too low according to Bloomberg.
