XRP token price is up 4% today and the market cap stands above $83 billion.
Ripple announced strategic partnerships with Atua AI and ArchaX.
XRP token’s price is on the rise with a 24-hour increase of around 4% today. The token is going on an upward movement from the low price level of $0.5 to above the $1.4 price level.
While the friendly stance of Trump on crypto has been a positive influence on XRP, its strategic partnerships are also raising its market sentiment. But, will XRP continue its price rally?
Source: CoinMarketCap
The US SEC and XRP had a long history of legal dispute, which influenced XRP’s market price to a large extent, so much so that its price was moving on a downtrend even in bull markets like 2021.
Now, with the pro-crypto candidate Donald Trump as the President of the US, Ripple breathes fresh air. The crypto-friendly government under Donald Trump is one of the reasons behind XRP’s ongoing upward price movement.
Ripple On a Spree of Strategic Partnerships
Archax, in collaboration with @Ripple, has launched the first tokenised money market fund on #XRPL.This groundbreaking initiative brings tokenised access to @abrdn_plc $3.8 billion US dollar Liquidity Fund, paving the way for enhanced operational efficiencies and institutional… pic.twitter.com/9TpXhqBOtz
— Archax (@ArchaxEx) November 25, 2024
Ripple announced the launch of a tokenized money market fund on XRP Ledger in collaboration with ArchaX, UK’s RWA exchange. This initiative brings tokenized access to a $3.8 billion US dollar Liquidity Fund, opening doors to large-scale institutional adoption of RWA tokenization.
Following the announcement of the ArchaX partnership, XRP witnessed over 17% price surge. Apart from this, the on-chain enterprise Atua AI is integrating Ripple XRP to pave the way for Blockchain AI innovation.
Ripple is also focused on achieving its net-zero carbon by 2030 goal and taking steps towards it. As part of this commitment, Ripple purchased sustainable aviation fuel certificates through its partner Watershed, an enterprise sustainability platform. This investment is going to add sustainable aviation fuel to Alaska Airlines.
Ripple is taking its partnership with Mercy Corps Ventures to a next step and is advancing equitable access to finance. The digital currency platform is focusing on building innovative financial resilience and humanitarian solutions on XRP Ledger.
Will XRP Continue its Price Rally?
Ripple recently announced its interest in investing in the rebranded XRP ETP by Bitwise. While the rebranding aims to strengthen the ETP’s presence in the European market, Ripple’s investment points to growing institutional interest in XRP.
Even though XRP has recorded a weekly growth of 30% and a monthly growth of 180%, it is currently trading at around the $1.4 price level. This is around 13% less than its recent high value of $1.63. The long-term XRP holders taking profits could be the major reason behind this price drop.
Crypto-friendly US government and increased investor sentiment could further increase the price action of XRP. Its strategic partnerships and efforts for new development will maintain its current positive market sentiment and could continue its price rally for the next few months. However, if the profit-taking activity continues it could trigger a selling pressure, causing a downfall of XRP.
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