After years of distress caused by the ongoing lawsuit with the SEC, XRP Coin investors are finally experiencing relief.
Ripple’s new announcements signal the beginning of a new chapter as the ecosystem strives to expand, following necessary steps tardily. ONDO has provided a promising update regarding the XRPL, which holds significant implications for investors.
Ripple Developments
The XRP Ledger network showed its potential with the launch of RLUSD earlier this year. RLUSD has since reached a market value in the hundreds of millions, yet the pursuit of betterment continues. Ondo Finance, one of the leading players in the RWA field, has revealed its plans to extend tokenized money market funds to the XRP Ledger.
Ondo Short-Term U.S. Government Treasuries, or OUSG, is an on-chain product that can be traded with RLUSD, Ripple’s stablecoin. Since its inception in January 2023, OUSG has reached a market value of nearly $700 million and is one of the largest RWA tokens, following the funds of BlackRock and Franklin. This fund is among the pioneers of the trillion-dollar RWA narrative.
Previously launched on Ethereum
$2,813, Polygon, and Solana
167, the product’s introduction to the XRPL network marks a strengthening position for Ripple
$2 in the RWA battle. Tokenized versions of real-world assets (RWA), which have already reached $23 billion, are anticipated to grow to trillions of dollars in the coming years, according to experts.
XRP Coin Price
At the time this article was prepared, XRP Coin was trading at $2.33, rebounding from $2.08. The cryptocurrency market has found some respite due to an agreement with China and imminent trade deals. However, the latest news has yet to significantly impact the price.
Should BTC maintain stability above $110,000, XRP’s price could revert to targets of $2.5 and $2.7. News has surfaced of Solana ETF applicants being asked to update their S-1 forms. If this leak is confirmed, it could serve as a highly motivating factor not only for Solana but also for the XRP Coin ETF, potentially aiding in a price increase.
