According to CryptoPotato, Ripple has announced a collaboration with Archax, the first digital asset exchange regulated by the UK’s Financial Conduct Authority (FCA). RippleX, the development arm of Ripple, has highlighted the significance of this partnership for the XRP Ledger (XRPL). The collaboration is seen as a major development for builders, developers, and users within the XRPL community, unlocking numerous opportunities for those looking to build on the XRPL. Financial institutions can now tokenize their real-world assets (RWAs) on the XRPL, a trend that has gained popularity in the crypto industry throughout late 2023 and 2024.
RippleXDev outlined several new features and possibilities for XRP developers, including the creation of new financial instruments, enhanced decentralized finance (DeFi), and bridging RWAs with crypto. The XRPL has processed over 2.8 billion transactions, representing over $1 trillion in value moved, and supports over 5 million active XRP wallet holders through a network of over 100 validators, demonstrating its robustness and reliability.
Despite these advancements, XRP’s price has remained stagnant in recent weeks, showing limited upward movement. However, the cryptocurrency has seen a 4.6% increase in the past 30 days and a 12.6% increase over the last year, according to CoinGecko. This price stagnation follows a ruling by US Judge Analisa Torres in August, which partially favored Ripple by reducing the SEC’s fines from around $2 billion to $125 million. Some experts anticipate an appeal from the SEC, which may be contributing to the suppressed price action of XRP.
