New Era

bullish

Hedera

Ripple has now announced plans to increase the number of tokenized funds through a partnership with Archax, a UK-based FCA-regulated digital marketplace for real-world assets. 
This comes as <a href="https://www.thecoinrepublic.com/price-prediction/xrp/">XRP</a>, the native cryptocurrency of Ripple has been undergoing an intense bullish trend in the following weeks. 
The token reached $1.09 as of November 20 up by over 50% over one week as a result of the announcement. 
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 <img loading="lazy" decoding="async" width="644" height="918" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-580.png" alt="" class="wp-image-843802" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-580.png 644w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-580-210x300.png 210w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-580-150x214.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-580-300x428.png 300w" sizes="auto, (max-width: 644px) 100vw, 644px">
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 Source: X
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<h2 class="wp-block-heading" id="h-tokenized-funds-a-new-era-of-accessibility">Tokenized Funds: A New Era of Accessibility</h2> 
Archax announced the addition of tokenized money-market funds (MMFs) from three major financial institutions.&nbsp; 
These three major asset managers in the UK are State Street Global Advisors, Fidelity Internation-, and Legal &amp; General Investment Management (LGIM). 
These funds will at first be sold in the form of tokens that are based on the clients’ share of physical assets held by the platform. 
These are State Street USD/GBP/EUR Liquidity Funds, Fidelity’s ILF USD/Sterling/Euro Funds, and LGIM’s Sterling/USD/Euro Liquidity Funds. 
Such tokens are likely to circulate on blockchains including Hedera Hashgraph, XRPL, and Arbitrum. This is expected to unlock yield-bearing MMFs. 
They are generally accessible to a broad base of investors. These include holders of stablecoins, and fintechs as well as institutional players keen on innovative ways of deploying their cash war chests. 
The tokenized funds also hold use cases beyond investment in tokenized securities. They can also be used for paying and financial transactions using tokenized funds as collateral. 
It is noteworthy that Graham Rodford, the CEO of Archax, devoted much of his speech to the subject of tokenization. 
He emphasized how it increases the efficiency of products on behalf of clients and widens the range of accessible financial instruments. 
<h2 class="wp-block-heading" id="h-xrp-rallies-over-50-in-a-week">XRP Rallies Over 50% in a Week</h2> 
Ripple announced this during the time that the price of the XRP token has been shooting up spectacularly. 
In the last seven days, XRP has risen from $0.72 to $1.09. This represents a notable 50.95 % rally.&nbsp; The current 24-hour trading volume for the token stands at $6.54 billion. 
This price trajectory is probably fueled by rising sentiment concerning Ripple’s progression towards tokenized assets. A broader emergence of institutional investors is also a factor. 
Many investors are perceiving the collaboration with Archax, as well as the launching of MMF tokenization, as a positive sign for XRP’s future use and potential worth. 
<h2 class="wp-block-heading" id="h-technical-analysis-xrp-s-price-consolidates-at-1-09">Technical Analysis: XRP’s Price Consolidates at $1.09</h2> 
XRP has had a fairly strong bullish run recently and it hit as high as $1.13 but is now around $1.09. 
Looking at the Candlestick chart, the volumes show support during the price up move suggesting good demand in the market. 
4-hour XRP charts show that is now in a consolidation phase with a price range of $1.08/$1.12. 
In such price-limited oscillation movement, the prices could break up to confirm further continuous price moves in either direction. 
Going above $1.12 may push it even up while a decline below $1.08 a sign may be seen for some correction. 
More to the point, the volume delta a principal measure of the buying pressure against the selling pressure reveals that XRP has received an inflow of 12.15 million in sessions. 
This showed a high level of buying pressure that overwhelmed selling pressure a strong accumulation phase was indicated. 
This is because the volume delta is significantly high. It has also further risen due to the latest announcement of Ripple and consistent demand. 
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 <img loading="lazy" decoding="async" width="1024" height="504" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-1024x504.png" alt="" class="wp-image-843794" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-1024x504.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-300x148.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-768x378.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-1536x756.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-150x74.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-696x343.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579-1068x526.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-579.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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 4-hour XRP/USDT Chart | Source: TradingView
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XRP has more potential for further increase in price given the carrier has been holding solid support levels and strengthening its position due to the positive market sentiment. 
Intensification of trading volumes and focus on partnerships offer hints at further Ripple’s uppers shortly. 
The post <a href="https://www.thecoinrepublic.com/2024/11/22/ripple-announces-new-tokenized-funds-as-xrp-tops-charts/">Ripple Announces New Tokenized Funds As XRP Tops Charts</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Ripple Announces New Tokenized Funds As XRP Tops Charts

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