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After a multi-week winning streak in the wake of Donald Trump's re-election and the announcement Chair Gary Gensler will be stepping down from the Securities and Exchange Commission (SEC), the cryptocurrency market entered a zone of uncertainty and high volatility over the weekend.
As became known thanks to the latest weekly research by CoinShares, investment products linked to the popular cryptocurrency saw a staggering result with inflows of $15.2 million. In fact, this is 353% higher than the week before and brings the year-to-date total for XRP-focused ETFs to $46 million.
XRP's open interest, which refers to the total number of open futures or options contracts, has hit a new record high of $2.6 billion, according to CoinGlass data.
The XRP price has staged a strong recovery this month, making it one of the best-performing top ten cryptocurrencies. Ripple (XRP) peaked at $1.
Ripple has launched the first tokenized money market fund on the XRP Ledger (XRPL) through a partnership with UK-based firms Archax and Abrdn, according to a Nov. 25 statement. This initiative involves Abrdn managing the fund as part of its £3.8 billion US Dollar Liquidity Fund (Lux).
XRP Ledger (XRPL) has launched the first tokenized money market fund. According to an announcement on the Ripple X handle, XRPL achieved it in collaboration with two other entities.
Despite recent highs, XRP might be on shaky ground. Technical analysis reveals declining trading volumes and an overbought RSIclassic precursors to a market downturn.
The tokenization of real-world assets has significantly grown on the XRPL network as Ripple onboards more institutional investors through regulated channels.
XRP has had a fantastic run lately, hitting remarkable highs and boosting market confidence. Technical analysis and current on-chain metrics, however, indicate that the rally may be coming to an end.
Most of the coins have come back to the green zone after a slight correction, according to CoinMarketCap.
Ripple's payments-friendly $XRP coin has surged 31% on last week and 11.8% overnight to outperform the market leaders Bitcoin ($BTC) and Ethereum ($ETH). Bitcoin is up 8% from last week to trade at $97,542, while Ethereum rose 13% to $3,467.
The next few days will reveal XRP's direction. But the bulls' resolve to protect XRP from further drops gives them a strong psychological advantage.
Ripple's XRP has had a turbulent few days, with the cryptocurrency facing strong resistance levels while still managing to hold steady above crucial support zones. As of November 25, XRP is trading near the $1.40 mark, down more than five percent, in line with the broader downturn seen across the cryptocurrency market.
Ripple whales bought more than 50 million XRP over the weekend, reports crypto analyst Ali Martinez. Citing data from Santiment, Martinez shows in a chart attached to a post how the total balance of holders holding no less than 1 million to 10 million XRP has increased to 4.29 billion tokens, with an apparent increase in the last two days.
Three reasons are mentioned behind the OI surge.
Archax has introduced a tokenized version of a money market fund offered by abrdn on the XRP Ledger (XRPL). The development came through a collaboration with Ripple.
XRP price has struggled to find stability above the 1.50 mark, making it the immediate target price to build on last week's 40 percent gain.
Crypto payments firm Ripple on Monday announced its first tokenized money market fund in partnership with FCA-regulated crypto exchange Archax and UK asset manager abrdn. The tokenized money market fund will be available on the XRP Ledger (XRPL) blockchain.
After the news of Gary Gensler stepping down in January, XRP is witnessing explosive activity, with Ripple whales adding over 250 million tokens to their holdings in just a short period. Amid this buying spree, XRP's price has surged, and the futures market is breaking records—topping $2.50 billion in open interest.
The partnership could accelerate the adoption of digital securities, transforming financial market infrastructure and enhancing efficiency. The post Ripple partners with Archax to debut first tokenized money market fund on XRPL appeared first on Crypto Briefing.
Amid revolutionary announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic disputes. Here is a summary of the most notable news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.
XRP price has already retested the peak of the 2021 bull run and on-chain data shows that whale investors are relentlessly buying more.
XRP has emerged as a standout performer, recording a 90% surge in 90 days compared to Bitcoin's 51% and Ethereum's 20% gains. This meteoric rise highlights the token's growing strength and resilience in a competitive market.
Stuart Alderoty, Ripple's Chief Legal Officer, credits the company's legal team for its pivotal role in shaping the cryptocurrency industry's fight against SEC overreach.
