The XRP Ledger (XRPL) reached a novel milestone, reaching $3 billion in total tokenized value on the network. Cryptocurrency expert X Finance Bull stressed the importance of this milestone, although for now it seems unlikely it will have any impact on the price.
The XRP ledger reaches a total RWA of $3 billion
According to data from RWA.xyzXRP Ledger’s total RWA reached $3 billion, up 59% over the past 30 days. There are currently 291 online RWA projects online. Crypto expert – noted Bulla X Finance that in a market where people behave as if utility doesn’t matter, money still flows into networks built with real finance in mind.
The cryptocurrency expert reiterated that institutions are not guessing but moving towards infrastructure they can actually apply. In another Post Xquoted bull X Finance Ripple CEO Luke Judgeswho said that the total tokenized RWA value in XRP Ledger is already closer to $3.75 billion.
The expert noted that the goal is for XRP Ledger to take first place in terms of total RWA value, while the network currently ranks 5th. Ripple is currently one of the tokenization projects on the XRP Ledger RLUSD coinwhose total value on the network is almost $382 million.
Ondo Finance also tokenized its short-term government bonds on XRP Ledger with a total value of $323 million. JMWH Justtoken is the largest tokenized asset on the XRP ledger with a total value of $1.76 billion. The token represents energy-based transactions in the real world. Justtoken also focuses on tokenizing several commodities.
For now, the milestone is unlikely to impact the price of XRP
Cryptocurrency analyst Egrag Crypto stated that XRP wave 2 has not ended yet, which signals that it will happen XRPL milestone This is unlikely to have an impact on price for now. The analyst also mentioned that the market is not done shaking feeble hands, and XRP’s momentum is still stagnant and the structure is weakening.
Commenting on the current price action, Egrag Crypto stated that XRP is in the red flag zone between $1.46 and $1.80. The key levels to watch are $1.46 (immediate support), $1.13 (breakdown confirmed), and $0.90-$0.73 (possibly end of wave 2). The analyst noted that the bear path is preferred for now.
Therefore, XRP’s loss at $1.46 will likely result in continued declines towards $1.13 and then a drop below $1. This is expected to trigger a deep Wave 2 reset before expansion. Meanwhile, there will be a bullish invalidation if XRP regains the $1.80-$2 range and closes above it on a weekly basis. This will then lead to a Wave 3 expansion, with targets at $5, $8, and $13.
At the time of writing, XRP is trading around $1.39, down more than 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
