Ripple Allegedly Launches XRP Rewards For Loyal Supporters as Token Eyes Key Price Breakout

Ripple has allegedly announced a special XRP Rewards Event to show appreciation for its community. This event is a way for Ripple to thank supporters who stood by the company during its long legal battle with the U.S. Securities and Exchange Commission (SEC).

Free XRP Tokens for the Ripple Community

According to the post, the rewards event is open to everyone in the Ripple community. Eligible users can claim free XRP tokens by registering based on their location and account status. After signing up, participants will go through a quick eligibility check. A few XRP holders even confirmed by posting the screenshots of the rewards received by them. However, an official announcement from Ripple is awaited.

XRP Market Update: Price Holds Steady

XRP’s price went up by around 3%, briefly trying to move past the $2.25 mark. The token continues to hold strong support between $2.14 and $2.27, staying steady even as the broader crypto market experiences ups and downs.

While the rewards event has sparked interest, XRP’s price remains in a tight range for now. Market watchers believe a bullish breakout towards $2.41 is possible in the near future, but the market currently appears calm and steady.

Ripple’s Business Moves

Alongside the rewards event, Ripple’s business decisions have caught attention. Reports recently suggested that Ripple considered buying Circle, the company behind the USDC stablecoin. Although the deal didn’t happen, Ripple’s recent purchase of fintech firm Hidden Road for $1.25 billion shows the company’s strong financial position and plans to grow beyond the XRP Ledger.