2024

Resistance

Chainlink

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 <li><strong>Ripple partners with Archax and ABRDN to launch a tokenized money market fund on XRP Ledger.</strong></li>
 <li><strong>XRP saw a 17.56% surge in price, reaching $1.54 following the announcement.</strong></li>
</ul>
<p>Today, <a href="https://thenewscrypto.com/ripple-xrp-vs-sec-whats-positive-for-other-altcoins-in-2025/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>, the leading digital asset infrastructure provider, has teamed up with Archax, the first UK-based FCA-regulated digital marketplace, and asset manager ABRDN PLC to launch the first-ever tokenized money market fund on the XRP Ledger.</p>
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  <p lang="en" dir="ltr">Today, in partnership with <a href="https://twitter.com/ArchaxEx?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ArchaxEx</a> and <a href="https://twitter.com/abrdn_plc?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@abrdn_plc</a>, we’re excited to announce the first tokenized money market fund on the XRP Ledger.<br><br>With $16T in tokenized assets projected by 2030, this milestone unlocks cost savings and settlement efficiencies by deploying capital markets…</p>— Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1860995969375990069?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 25, 2024</a>
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<p>According to the official announcement, the fund is part of ABRDN’s broader £3.8 billion US dollar liquidity portfolio. Ripple has also pledged $5 million to tokens within the fund, aiming to enhance settlement efficiency and cost-effectiveness in capital markets.</p>
<p>Tokenized money market funds have already surpassed $1 billion in managed assets, with experts predicting the broader tokenized asset market could soar to $16 trillion by 2030.</p>
<p>However, while Ripple is making significant developments, its native cryptocurrency, <a href="https://thenewscrypto.com/will-xrps-whale-purchases-drive-its-price-to-new-heights/" target="_blank" rel="noopener noreferrer nofollow">XRP,</a> is also performing well in the market. The announcement sparked excitement in the XRP market as it witnessed a notable surge.&nbsp;</p>
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 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="819" height="379" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-210.png" alt="" class="wp-image-115583" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-210.png 819w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-210-300x139.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-210-768x355.png 768w" sizes="auto, (max-width: 819px) 100vw, 819px">
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   XRP Price Chart (Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">CMC</a>)
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<p>The token’s price hit $1.54, marking a rise of 17.56% in 24 hours. At the time of writing, XRP priced at $1.48, with a market cap of $84.58 billion. At the same time, its daily trading volume climbed by over 15.31% to $12.58 billion.</p>
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XRP Surges After Ripple Unveils First-Ever Tokenized Money Market Fund

TheNewsCrypto

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