XRP price remained in a tight range this week, even as the network made some major milestones in the real-world asset (RWA) tokenization industry. The Ripple token was trading at $1.4285 after slumping by double digits from its all-time high.
Ripple Made Major Milestones in the RWA Industry
XRP price wavered even as the Ripple network achieved major milestones this week. As data compiled by RWA shows, the total represented asset value jumped by 18% to over $1.49 billion. The distributed asset value soared by nearly 50% in the last 30 days to $460 million.
The biggest players in the XRP Ledger network include companies such as Justoken, Ctrl Alt, VERT Capital, and Mercado Bitcoin. Companies leveraging the technology include major names such as Ondo, Guggenheim, OpenEdge, and Montis Group.
More data reveals that the 30-day transfer volume in RWA jumped by 95% to $150 million, making it one of the fastest-growing players in the industry.
Another major milestone is that Société Générale, a top French bank with over $1.83 trillion in assets, launched a new euro stablecoin on the XRP Ledger. This happened as the stablecoin market cap on the XRP Ledger network rose by 5.6% to $430 million, while monthly transfers rose by 21% to over $1.01 billion.
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The other major milestone was the launch of the Permissioned DEX feature in the network. This is a major product aimed at corporates that are now unable to participate in existing projects. The launch happened after the recent launch of permissioned domains.
XRP price remained under pressure, even as the ETF inflows continued. Its ETFs added over $1.8 million, the third consecutive week of inflows. Ethereum and Bitcoin ETFs continued shedding assets this week.
XRP Price Prediction: Technical Analysis
The daily chart shows that the XRP price has pulled back recently, moving from this week’s high of $1.6617 to the current $1.4280. It has slumped by over 60% from its all-time high.
The coin remains below the 50-day and 100-day Exponential Moving Averages. And most notably, the Supertrend has remained in the red section in the past few months.
Therefore, the most likely Ripple price prediction is bearish, with the next key target being the year-to-date low of $1.1215.
However, there are signs that the coin has formed a small double bottom, with the neckline at $1.661. This pattern often leads to a bullish breakout.
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