Ripple, the payments-focused blockchain firm closely related to the XRP Ledger (XRP), is taking its U.S. dollar-backed stablecoin Ripple USD (RLUSD) to Ethereum layer-2 (L2) blockchains including Optimism, Coinbase's Base, Kraken's Ink and Uniswap's Unichain in a push to embed the $1.3 billion token deeper into the multichain ecosystem. The company, announcing the move Monday, said it is starting with a test phase ahead of a wider rollout expected next year, pending regulatory approval by the New York De ...

Core Insights - XRP has expanded its multichain capabilities with the launch of wXRP, a regulated wrapped asset that is 1:1 backed by XRP, issued and custodied by Hex Trust [1][2] - The introduction of wXRP allows for safe cross-chain transactions and integration into DeFi, eliminating the need for risky third-party bridges, and it has debuted with over $100 million in total value locked [2][3] - Ripple has received conditional approval from the OCC to charter Ripple National Trust Bank, marking a significant regulatory milestone for stablecoin compliance [4] Group 1 - wXRP will be usable on multiple networks including Solana, Optimism, Ethereum, and HyperEVM, facilitating trading, liquidity provision, rewards, and secure cross-chain transfers [2][3] - The rollout of wXRP enhances the liquidity pairs available for XRP and extends its presence in the DeFi space beyond the XRPL [3] - Ripple's CTO emphasized that the expansion of XRP ecosystems contributes to real utility, with XRPL serving as a secure anchor for the entire ecosystem [5] Group 2 - Industry experts envision a future where crypto ecosystems collaborate rather than compete, focusing on advancing beyond the traditional financial system [6] - Recent market activity included significant whale selling of approximately 280 million XRP, with analysts identifying key resistance and support levels at $2.17, $1.96, and $1.78 [6]

Core Insights - XRP is expanding its utility beyond its native network through the issuance and custody of wrapped XRP (wXRP) by Hex Trust, allowing it to operate across major blockchains like Ethereum and Solana [1][2] Group 1: Wrapped XRP (wXRP) Overview - Each wXRP will be fully backed by native XRP held in segregated custody at Hex Trust, with minting and redemption available to authorized participants in a compliant environment [2] - wXRP will launch with over $100 million in Total Value Locked, providing immediate liquidity and supporting stable market activity from day one [3] - The wrapped asset utilizes LayerZero's Omnichain Fungible Token standard, enabling multi-chain participation [3] Group 2: DeFi and Cross-Chain Utility - wXRP expands XRP liquidity in DeFi and cross-chain networks, enhancing utility between XRP and RLUSD, built on trusted, compliant infrastructure [4] - The wrapped token allows users and institutions to engage in cross-chain activities, including swaps and liquidity provision within a regulated framework [5] - Each wXRP is fully backed and redeemable for native XRP, facilitating movement between blockchains without reliance on unregulated third-party bridges, thus reducing counterparty exposure [6] Group 3: Market Impact and Demand - There is a growing demand for utilizing XRP across the broader cryptocurrency ecosystem and among institutions, which Hex Trust aims to address [6] - Despite the announcement, the price of XRP saw minimal positive impact, rising just over 1% in the past 24 hours, trading at $2.04 at the time of writing [6]