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 forward with a critical prediction about the XRP Ledger.
Ripple developers see a “new era” for XRP Ledger
In a recent updateRippleXDev, the development arm behind the XRP Ledger (XRPL), detailed the importance of the collaboration between Ripple and Archax.
This collaboration is not only a milestone for Ripple and Archax, but a monumental development for the builders, developers and users within the XRPL community.”
The team further highlighted that it opens up many new opportunities for those looking to build on the XRPL, “as financial institutions can now tokenize their RWAs on the XRPL.”
Indeed, RWA Crypto Projects have been making giant strides in the industry and their popularity has increased in late 2023 and throughout 2024.
Some of the new features and possibilities facing XRP developers include:
- Creation of new financial instruments
- DeFi Enhanced
- A bridge between RWAs and cryptocurrencies
The post also outlined some of the key features of XRPL when it comes to tokenization:
With over 2.8 billion transactions processed representing over $1 trillion in value moved, and over 5 million active XRP wallet holders backed by a network of over 100 validators, XRPL remains as proven as ever.
XRP price cannot be capitalized
Despite the above, the price of XRP has been stuck in limbo for the past few weeks, unable to make any definitive progress upwards.
That said, the cryptocurrency is up 4.6% over the past 30 days and 12.6% over the past year, according to CoinGecko.
This occurs while the American judge Analisa Torres ruled partly for and partly against the company in August, discounting the SEC fines to $125 million from about $2 billion.
However, some experts are now anticipating an appeal by the Commission, which could be part of the reasons behind XRP’s suppressed PA.
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