- Ripple’s XRP tokenization program for institutions goes live on August 1.
- XRP price drops 1.96% despite rising institutional adoption and new tools.
- Ripple acquires Hidden Road to bridge hedge funds and XRP Ledger.
Ripple President Monica Long has confirmed that institutional usage of XRP is increasing, opening the way for a special occasion on August 1 with the official launch of Ripple’s institutional tokenization campaign. The launch, which is expected to bring institutional assets on-chain via the XRP Ledger, will likely serve as a motive for broader adoption of XRP in financial infrastructure.
The XRP Ledger’s Institutional Tokenization Program is scheduled to go live on August 1. The program is planned to allow institutions to tokenize real-world assets securely and efficiently. According to Ripple representatives, this is a major move in bringing traditional finance onto the blockchain platform.
Ahead of the launch, the platform BANXCHANGE.com has emerged as a tool for fast XRPL token creation. It enables users, both institutional and retail, to issue XRP Ledger-based tokens in under five minutes using any internet-connected device.
Adding to this sentiment, Ripple’s recent acquisition of Hidden Road, a prime brokerage service, is also part of its broader institutional strategy. CEO Brad Garlinghouse, in a conversation on the “Crypto In One Minute” series, described such brokers as key to connecting institutions like hedge funds and trading desks to digital asset markets. Traditionally, these roles have been filled by large banks, but Ripple is now expanding its role in this area.
XRP Price Drops as Volume Declines
Despite this positive move, XRP has shown a market decline of 1.96% bringing its price at $3.09 over the past 24 hours, according to CoinMarketCap data. The token experienced a high of $3.176 before falling in a number of pullbacks throughout the day on July 29. A dip occurred around 6:00 PM, followed by a recovery, though resistance remained near $3.15.
Additionally, the daily trading volume has decreased by 17.47%, falling to $5.79 billion. XRP’s market capitalization now stands at $183.43 billion, placing it as the third-largest cryptocurrency by market cap. The fully diluted valuation of the token is $309.64 billion, with a total supply nearing its cap at 99.98 billion XRP and a current circulating supply of 59.23 billion XRP.
