Ripple raises $1 billion as Solana collapses

Ripple accelerates when the market slows down. The company is reportedly preparing to raise around $1 billion to accumulate XRP via a SPAC backed by a digital asset treasury (DAT) structure. The timing is delicate: liquidations follow one another, Bitcoin is falling and Solana is losing ground. However, the strategy is clear: stabilize the supply, talk to the world about corporate finance and expand the use of the crypto token in payments. Let’s review the issues.

DAT, SPAC and Treasury: the Ripple method to smooth the supply of XRP

The XRP-oriented DAT draws inspiration from listed accumulators, such as MicroStrategy, known for its bold monetary strategy, or Metaplanet. Even though these players have experienced risk aversion, the idea remains the same: accumulate in a disciplined and predictable manner. The structure aims to purchase XRP in tiers, according to explicit treasury rules.

The raising would take place through a SPAC, with funds ring-fenced in the DAT. Ripple would contribute a portion of its own tokens, according to ongoing discussions. The operation, if finalized, would be among the largest linked to XRP, whose capitalization was worth around $138 billion on Friday.

Above all, the company plays the institutional card. Ripple already holds ~4.7 billion in XRP directly (≈ $11 billion) and manages an additional 35.9 billion in escrow, released monthly. The objective: to make the offer more readable for payment and custody players, while reducing the volatility linked to flows. At the same time, the acquisition of GTreasury for $1 billion opens the doors to financial departments which are testing tokenized deposits and stablecoins.

Feverish crypto market: risky timing, decisive execution

The context forgives nothing. The US/China trade shock triggered nearly $19 billion in liquidations. Bitcoin lost ~3% on Thursday, altcoins more. The mood is fragile, liquidity selective, and strong hands favor defensiveness.

In this context, an accumulation vehicle reassures if it imposes a credible pace and governance. Investors will read the roadmap: purchasing rules, caps, transparency, risk metrics. The clearer the mechanics, the greater the stabilizing effect on the perceived supply of XRP gains credibility.

Ripple's bet is twofold: build in a bear market and speak the language of CFOs. The DAT + GTreasury duo creates a bridge between crypto-treasury and corporate finance. If adoption increases on the payments and custody side, the utility premium can offset the cyclical risk premium.

According to Ryan Lee, Chief Analyst at Bitget:

XRP is under short-term pressure (“whale” sales, stock market inflows) with support around $2.10–2.30, but potential towards $3.00–3.25 exists if ETFs are approved. The buyout of GTreasury ($1 billion) strengthens the “corporate cash” use of XRP, beyond speculation. Conversely, Solana is showing more robust momentum, targeting $210–250 thanks to strength in DeFi and optimism around possible ETFs. More broadly, market rotation favors tokens with real utility; you must follow ETF files and remain strict in risk management in a volatile context.

Solana: critical supports, technical signals on alert

Meanwhile, Solana falls. The price is trading around $176, down more than 6% over 24 hours and 17% over the week. After peaking past $220, momentum reversed with a series of red candles and a market unable to absorb high volume selling.

Technically, the $176 area is key. A breakout would open $168 (recent pullback low), then potentially $150 if market weakness persists. The RSI ≈ 39 borders on oversold. The 20MA and 100MA converge, and the price gravitates just above the 200MA, a threshold often scrutinized by quantitative managers.

For a credible reversal, one would need to defend $176, then re-enter the 100MA and regain $210. Possible catalysts: return of institutional accumulation, positive flows on index products linked to Solana, or macroeconomic appeasement. Without this, caution dominates: tested supports, high volatility and unfavorable flows.