Ripple recently announced a collaboration with Archax, the first digital asset exchange regulated by the UK’s Financial Conduct Authority (FCA).
Now, RippleX, the company’s development arm, is coming up with a critical prediction concerning the XRP Ledger.
Ripple Devs Seeing a “New Era” for the XRP Ledger
In a recent update, RippleXDev, the development arm behind the XRP Ledger (XRPL) detailed the importance of the collaboration between Ripple and Archax.
This Collaboration is not just a milestone for Ripple and Archax but a monumental development for builders, developers, and users within the XRPL community.”
The team further outlined that it unlocks a lot of new opportunities for those who want to build on the XRPL, “with financial institutions now able to tokenized their RWAs on the XRPL.”
Indeed, RWA crypto projects have been making a stride in the industry, booming in popularity throughout late 2023 and the entirety of 2024.
Some of the new features and possibilities in front of XRP developers include:
- Creation of New Financial Instruments
- Enhanced DeFi
- Bridging RWAs with crypto
The post also outlined some of the key features of XRPL when it comes to tokenization:
With over 2.8B transactions processed representing over $1T in value moved, and over 5M active XRP wallet holders supported by a network of over 100 validators, XRPL remains as proven as ever before.
XRP Price Unable to Capitalize
Despite the above, XRP’s price has been stuck in a limbo throughout the past few weeks, unable to make definitive progress to the upside.
That said, the cryptocurrency has increased by 4.6% in the past 30 days and by 12.6% in the last year, according to CoinGecko.
This comes as US Judge Analisa Torres ruled partially in favor and partially against the company in August, discounting the SEC’s fines to $125 million from around $2 billion.
However, some experts are now anticipating an appeal on behalf of the Commission, which might be part of the reasons behind XRP’s suppressed PA.
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