Ripple XRP Price: XRP Ledger Reaches $3 Billion RWA Token Value with Support for Price Tests


Set as Google's preferred sourceFollow on Google News

TLDR

  • XRP Ledger reaches $3 billion in total token real asset value (RWA), up 59% in 30 days
  • Ripple CEO Luke Judges puts the number closer to $3.75 billion
  • XRP is currently trading at $1.39, down over 2% in 24 hours
  • XRP could fall to $1.13 or even $0.73 to $0.90 before recovering, analyst Egrag Crypto warns
  • XRP trading volume on Bitrue increased by 7 times in 24 hours, driven by a surge in buy orders

The value of the XRP Ledger (XRPL) has surpassed $3 billion in total tokenized real assets (RWA) value, according to data from RWA.xyz. This achievement reflects a 59% increase over the past 30 days. The network currently hosts 291 RWA projects.

XPR price
Ripple price

Ripple CEO Luke Judges put the number even higher. In comments cited by cryptocurrency analyst X Finance Bull, the judges suggested that the total RWA token value on XRPL is already close to $3.75 billion.

Cryptocurrency expert X Finance Bull noted that institutions are “not guessing” but moving towards infrastructure they can actually use. The analyst added that XRPL’s goal is to rank first in total RWA value globally. It currently ranks fifth.

The largest token asset on the network is Justtoken’s JMWH, worth $1.76 billion. It represents real-world energy-backed transactions and also covers several tokenized commodities.

Ripple’s stablecoin RLUSD has approximately $382 million in token value on its ledger. Ondo Finance also tokenized short-term government treasury securities on XRPL, with a total value of $323 million.

XRP price faces downside risks despite significant achievement

Despite the RWA news, price analysts are not calling for a rally just yet. Egrag Crypto reported that wave 2 of XRP’s move to the downside is far from over. The analyst described the market as still “shaking weak hands.”


I was


Egrag Crypto placed XRP inside what it called a “red flag zone” between $1.46 and $1.80. Immediate support is at $1.46, with $1.13 as the next level if that is broken.

A deeper decline to the $0.90-$0.73 range is possible, which the analyst called a potential wave 2 completion zone. A downward path is the preferred scenario at the moment.

A bullish reversal would require XRP to recover and close weekly above the $1.80-$2.00 range. This will open wave 3 targets at $5, $8 and $13 according to the analyst.

XRP was trading at around $1.39 at the time of writing, down more than 2% in 24 hours, according to CoinMarketCap.

Increase trading volume on accumulating binary signals

Cryptocurrency exchange Bitrue reported a 7x increase XRP trading volume Within one 24 hour period. The rise was driven by higher buying orders and lower selling pressure.

The XRP holder base has grown to an estimated 7.8 million. The asset also attracted nearly $25 million in weekly flows, according to available data.

ETF clients bought $2.2 million worth of XRP, according to a Whale Insider post on X, bringing the total net assets owned by the ETF to $1.38 billion.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *