XRP On Course For Meteoric Rally As Ripple Explores Potential Acquisitions

Ripple, the blockchain firm behind the XRP cryptocurrency, is ready to expand through a series of mergers and acquisitions.

According to a CNBC report, the company is seeking out world-class acquisition opportunities as it hopes to bolster growth by buying other startups.

Ripple Is Looking For Lucrative Acquisitions

Ripple has been rather active in the merger and acquisition (M&A) space during most of its history, purchasing companies like Trianglo, Algrim, and Logos, among others. Despite being mired in a publicized battle with the U.S. Securities and Exchange Commission (SEC), the company has not slowed down on its expansion plans.

As you are no doubt aware, the SEC dropped the bomb on Ripple in December 2020 by suing the company and two of its top execs for allegedly issuing and selling unlicensed securities in the form of the XRP cryptocurrency.

In a chat with CNBC, Ripple CEO Brad Garlinghouse revealed that the firm’s balance sheet is very strong. He speculated there will be many mergers and acquisitions in the crypto industry in the near future, noting that Ripple would highly consider such things.

Garlinghouse emphasized that Ripple is at a juncture where it’s “more likely to be the buyer versus the … seller.”

Is The Breakthrough XRP Needs Near?

With its capital and resources, Ripple has been striving to build a more manageable ecosystem for developers to create projects around XRP, subsequently incentivizing companies to use the cross-border payments token.

Despite positive developments in the SEC lawsuit and notable deals especially in the Asia cryptocurrency market, the performance of XRP has been underwhelming to some prominent crypto analysts.

It’s worth noting that XRP is the only veteran cryptocurrency in the top ten that has been unable to top its 2017-2018 bull market all-time highs. It was also recently overtaken by Cardano’s ADA. With a market cap of around $20.1 billion, XRP is now the seventh-largest cryptocurrency after ADA. 

However, some enthusiasts believe more large-scale deals designed to bring more real use cases for XRP as well as a win in the SEC war could dramatically improve the coin’s upside prospects.