- A cryptoanalyst has examined how to affect the tokenized gold on the XRP course on the XRP Ledger.
- According to him, gold on the XRPL would increase the demand for XRP, which would subsequently lead to a significant increase in price.
XRP has proven to be resistant, since it successfully kept about an important support brand at $ 2.0 and recorded a rebound of 2.2 % on the 24-hour chart, which brought the course to $ 2.1 when writing this article. According to our market data, the asset tries to overcome the downward pressure that its market capitalization had pressed to $ 128 billion.
A crypto expert who describes himself as “All Things XRP” has commented on the general behavior of the course and ongoing development predictedthat the asset could experience a massive increase. He believes that the increasing activities of tokenized RWA (Real World Assets) could be the Game Changer.
“All Things XRP” explains that the digital operations have clearly shifted to the tokenization of RWAs such as gold, real estate and raw materials on the chain.
In the meantime, Ripple has taken the first step towards partnership with the leading US fintech company Meld Gold to introduce two new stable coins covered by gold and silver on the XRP Ledger. As CNF reported, the gold and silver-assets can be completely redeemed in gold and silver bars.
Gold on the blockchain would significantly increase the demand for XRP, since institutions and banks would need it for liquidity. In the long run, this would reduce the circumferential amount of the token compared to increasing demand and let XRP increase. RWA tokenization would also benefit from XRPL. As CNF reported, the decentralized stock exchange enables trade in tokenized assets without a special contract being necessary.
Consequences of tokenized gold to XRP
With regard to the effects of the tokenization of gold on XRP, “All Things XRP” pointed out that token -like gold would bring large actors – banks, institutions and asset managers – into the network with appropriate liquidity.
According to him, more liquidity would strengthen XRPL, while a stronger network would increase the XRP course. At the same time, every gold trade on the XRP-L would require a transaction fee. The burning of these fees would constantly reduce the circulating offer and keep the cure high:
“Institutional acceptance is on the rise. Banks and investment companies will use XRPL to act with tokenized gold … You will integrate XRP for accounting. This is not just a speculation-the Odl (on-demand liquidity) from Ripple is already changing the cross-border payment transactions. ”
Apart from that, the expert believes that decentralized financing on XRPL has developed so far that XRP could be used as security. In his opinion, the dramatic market entry of tokenized gold, which is supported by financial institutions, could make it easier to use XRP as security for loans, yield farming etc.
Against this background, an analyst identified as an EGRAG Crypto has predicted that XRP could achieve $ 27 in this cycle. As CNF reported, the analyst comes to this value by starting an increase in 718% to the all -time high of $ 3.4.
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