As crypto adoption grows rapidly, latest XRP news from Trident Digital Tech Holdings Ltd (NASDAQ: TDTH) is yet another development in the direction.
On Thursday, the company revealed plans to raise $500 million to establish an XRP treasury reserve.
The Singapore-based digital transformation enable firm added that the proceeds will be used to buy XRP tokens as long-term strategic reserves and engage with the Ripple ecosystem.
Trident Digital Joins Other Firms to Buy XRP for Its Treasury
In a press release on June 12, Trident Digital Tech Holdings Ltd disclosed a $500 million capital raising initiative in a recent XRP news update. The firm further revealed the equity issuance, strategic placements, and structured financing instruments as some ways it has decided to raise capital.
As part of the initiative, the acquisition of XRP tokens as long-term strategic reserves, the deployment of staking mechanisms to generate yield, and deep engagement within the Ripple ecosystem were the primary focus of the firm.
Moreover, Trident seeks collaboration with select infrastructure and application projects to strengthen its commitment to boosting decentralized finance (DeFi) adoption.
Soon Huat Lim, founder of Trident, said,
“We see digital assets as key enablers in the evolution of the global financial landscape. This initiative reflects our belief in the transformative potential of blockchain technology for capital allocation and cross-border value transfer.”
The company aims to set a good example for other public companies to participate in the ongoing development of decentralized finance.
Underlying Goal of Trident Digital
Trident seeks to establish one of the world’s first large-scale corporate treasuries with XRP. In order to do so, the company revealed the appointment of Chaince Securities LLC as the strategic advisor.
The company strategizes to integrate decentralized financial assets into treasury and capital management practices. This would help in building a revolutionized blockchain-native financial infrastructure. As per the statement,
“The company is currently in discussions with leading crypto foundations and institutional partners to secure favorable token acquisition terms and robust on-chain infrastructure.”
XRP News: Trident Joins Other Corporate Holders
Many companies have expressed interest in adding XRP as a treasury reserve asset. These include VivoPower International, Wellgistics Health, and Webus International, among others. The companies revealed plans to buy XRP for purposes including payments, diversifying treasury reserves, and hedging against inflation.
Notably, VivoPower deploying $100 million in XRP on Flare Network has grabbed attention from the XRP community. The company vowed to contribute and invest in the XRPL DeFi ecosystem.
President Donald Trump’s crypto-friendly approach and the US Bitcoin treasury reserve plan prompted corporations to acquire cryptocurrencies. Institutional interest in investing in such crypto assets has also increased lately.
XRP Price to Rally Amid Massive Interest
XRP price jumped slightly after the announcement, with the price changing hands at $2.25 at the time of writing. The 24-hour low and high were $2.22 and $2.33, respectively.
Analyst Dark Defender said XRP price is near a breakout on the daily timeframe. Should the candle close above $2.33, a major rally may likely follow. He noted several indicators, such as RSI, EMA, and Ichimoku Clouds, signal a bullish move for XRP.
Recently, analyst EGRAG CRYPTO predicted a bullish breakout in XRP price by mid-June 2025, resulting in a final rally phase by September. According to him, XRP price has established support at $2.22, with a potential rise to $2.40, $3, and even $3.40 if this resistance is breached.
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