XRP, endlessly stuck at $1...Why did RWA increase by $4 billion?

▲ XRP

While XRP cannot escape its downward trend around $1, network indicators are sending the opposite signal. Tokenized real-world assets (RWAs) on the XRP Ledger have swelled to approximately $4 billion, and new wallets have surged by 40% compared to the previous week.

According to cryptocurrency specialized media Benzinga on July 7 (local time), the size of tokenized real-world assets on the XRP Ledger amounts to approximately $4 billion. This is about four times the size of the XRP spot ETF market. Institutional use cases have also begun to emerge.

This year, a tokenized US Treasury redemption transaction involving JPMorgan, Ondo, and Mastercard was reportedly processed on the XRP Ledger in approximately 4 seconds. The XRP spot ETF recorded net inflows for 8 consecutive weeks. Approximately $23 million flowed in during the last week of June, with cumulative net inflows reaching approximately $1.47 billion.

The number of new XRP wallets also increased to 26,000 in the last week of June. This is the highest weekly figure since March and a 40% increase from the previous week. Cryptocurrency researcher BankXRP questioned whether XRP is in an accumulation phase or if bigger changes are emerging, stating, "On-chain adoption doesn't lie."

Changes also appeared in supply indicators. According to CryptoQuant data, the Binance XRP scarcity index recently rose to approximately 0.77 over the past 3 days. This is the highest level since mid-2024. At that time, the XRP price was around $1.1.

An increase in the scarcity index means that the amount of XRP available on Binance has decreased compared to before. However, CryptoQuant pointed out that a decrease in supply alone cannot guarantee a sustained increase. The key variable was presented as whether demand strengthens in a situation where exchange supply is limited.

[Article Key Summary]

-The size of tokenized real-world assets on the XRP Ledger is approximately $4 billion, which is about four times the size of the XRP spot ETF market.

-The cumulative net inflow into the XRP spot ETF is approximately $1.47 billion, and new wallets increased by 26,000 in one week.

-The Binance XRP scarcity index recorded its highest level since mid-2024, at approximately 0.77.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*