XRP Ledger Surpasses $3 Billion in RWA Value Amid Price Uncertainty
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The XRP Ledger has achieved a notable milestone by surpassing a total of $3 billion in tokenized value. This achievement was highlighted by cryptocurrency commentator X Finance Bull, who acknowledged the importance of this level, although he expressed skepticism about its immediate effect on XRP’s price.
Recent figures from RWA.xyz indicate that the XRP Ledger’s real-world asset (RWA) value has risen by 59% in just a month, marking a significant increase. Currently, the network supports 291 RWA projects, showing robust development in this area. X Finance Bull pointed out that, despite some market participants overlooking the importance of utility, investments are still flowing into blockchains that focus on practical finance.
The analyst emphasized that institutions are making informed decisions and are gravitating towards infrastructures that serve their operational needs. In a follow-up post on X, he referenced Ripple executive Luke Judges, who noted that the total tokenized RWA value on the XRP Ledger is nearly reaching $3.75 billion.
X Finance Bull mentioned that the ultimate aim is for the XRP Ledger to ascend to the top position in total RWA value, despite currently being ranked fifth. Ripple is one of the entities actively tokenizing assets on the XRP Ledger, with its RLUSD stablecoin contributing approximately $382 million to the network’s total value.
Additionally, Ondo Finance has tokenized its short-term treasury assets on the XRP Ledger, accounting for around $323 million. The largest asset in terms of tokenized value is Justtoken’s JMWH, valued at $1.76 billion, which facilitates transactions linked to real-world energy, with plans to tokenize several commodities as well.
Despite these developments, analysts remain cautious about the impact on XRP’s price. Egrag Crypto, another crypto analyst, suggested that XRP’s current downward trend has not yet ended and that the milestone achieved by the XRPL is unlikely to influence its price positively in the short term. He mentioned that the market is still undergoing a phase of elimination for weaker holders, resulting in stalled momentum for XRP.
Currently, XRP is trading within a critical zone, with key support observed at $1.46. Should the price dip below this point, it could lead to further declines toward $1.13 and potentially below the $1 threshold. This trajectory might lead to a deeper correction before the price experiences any upward movement. Conversely, a reclaiming of the $1.80 to $2 range on a weekly closing basis would suggest a bullish trend could emerge, with targets set at $5, $8, and even $13.
As of now, XRP’s price hovers around $1.39, reflecting a decrease of over 2% in the past 24 hours, based on data from CoinMarketCap. Investors and analysts alike will be watching the market closely for potential shifts as these developments unfold.
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