Fintech Giant Ripple Exits Key Crypto Investments

Ripple, a significant player in crypto payments, has sold its stakes in Bitstamp and Tranglo. This move has been noted on Crunchbase, marking Ripple's departure from these major investments.

Ripple’s decision to withdraw from Bitstamp comes amid speculation that Robinhood’s recent $200 million purchase of the exchange influenced the decision.

Ripple had acquired Bitstamp from Pantera Capital last year to expand its international footprint beyond traditional payments.

The exit from Tranglo has also surprised many. Ripple still lists Tranglo as a partner and holds a 40% stake in the cross-border payment platform, which uses XRP for liquidity. This has led to confusion, with experts like Crypto Eri seeking further confirmation.

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Despite these significant changes, XRP’s market reaction was subdued. The cryptocurrency saw a 2% price increase, trading around $0.532.

However, trading volume fell by 45% following a profit-taking spree after a recent rally. Total XRP futures open interest rose slightly, suggesting a cautious but optimistic outlook among investors.

Ripple’s strategic divestments indicate a potential realignment of its business priorities, reflecting broader market dynamics and investor sentiment.

Alexander Stefanov