👀 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickSee Undervalued Stocks

XRP Ledger: A New Frontier for Precious Metals Tokenization?

Published 07/01/2024, 10:10 PM
Updated 07/01/2024, 10:45 PM
XRP Ledger: A New Frontier for Precious Metals Tokenization?
XRP/USD
-

  • XRP’s downtrend may be weakening, but technicals suggest further downside is possible.
  • Meld Gold’s planned launch of gold and silver stablecoins on the XRP Ledger could boost XRP.
  • Ripple is exploring tokenization opportunities on XRPL, potentially integrating precious metals.

A significant development on the XRP Ledger could potentially change the narrative for XRP investors. Australian firm Meld Gold is set to launch two new stablecoins, bringing fungible gold and silver assets to the XRP ledger in Q3 2024.

Ripple’s president announced that the firm is actively exploring various opportunities for tokenization on XRPL. This integration of precious metals with blockchain technology could provide a bullish catalyst for XRP, even as technical indicators suggest a weakening bearish trend.

XRP has declined for the past week, but there are signs that the downtrend may be losing momentum. The chart below shows a one-week candlestick chart for XRP with a Heikin Ashi overlay. Heikin Ashi candlesticks reduce choppiness and market volatility, making trends easier to see.

Source: Brett Hill

XRP’s recent downtrend is indicated by the series of lower lows and …

The post XRP Ledger: A New Frontier for Precious Metals Tokenization? appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.