Ripple: the price of XRP and the latest news from the crypto project

Ripple (XRP) has been experiencing a bear market over the past month, in contrast to the bull run of Bitcoin and the other major crypto assets. 

Among the latest project news, it appears that the company is targeting tokenization, according to Markus Infranger. 

Ripple and the countercurrent price of the XRP crypto

The sixth largest crypto by market capitalization, Ripple (XRP), has been experiencing a bear market over the past month, bucking the bull run of Bitcoin and other major crypto assets. 

And indeed, looking at the chart, in the past 30 days, the price of XRP has dropped by 6%, from $0.5058 to the current $0.4767. In contrast, Bitcoin (BTC) has seen the price rise 17%. 

Yet despite this monthly trend, if one looks at the yearly chart, XRP still remains up from July 2022, precisely in the middle of the “crypto winter.” Indeed, Ripple’s price growth over the past year is an impressive +48%. 

Nevertheless, the trading volume of XRP in the last 24 hours, has increased by 80%. The price is also in a 2% pump compared to yesterday. 

In general, the price of Ripple (XRP) has also been somewhat affected by the very long lawsuit with the US Securities and Exchange Commission (or SEC), which began back in 2020 and has not yet been resolved.

Ripple (XRP): crypto focuses on tokenization 

Recently, Markus Infanger, VP RippleX Growth, gave an interview of his own talking about how the crypto company is focusing on value tokenization. 

According to Infanger, tokenization represents a multi-trillion dollar opportunity in the coming years. That is why Ripple is aiming precisely at engaging institutions in the process. 

Not coincidentally, Ripple already offers a number of crypto solutions for corporations and businesses that involve, in a big way, transacting, managing, and tokenizing value on blockchain. 

Specifically, the crypto company has always distinguished itself for cross-border payments, as well as for its recent support for the issuance of Central Bank Digital Currencies (CBDCs). 

In this regard, this very 2023, the Central Bank of Montenegro (CBCG) appears to have chosen Ripple and its blockchain and crypto solutions to develop its first CBDC in the country. 

Escaping the US with the acquisition of Metaco in Switzerland

Another strategy put in place by Ripple (XRP) for this 2023 is precisely to also target the market outside the US. 

Indeed, the expansion and activity of the crypto company suffers due to the US SEC, which, in recent times, has reinforced its control over the entire industry and their participants. 

Not surprisingly, last May, Ripple announced the acquisition of Metaco, the Swiss-based provider of digital asset custody and tokenization technology. The value of that acquisition was $250 million. 

A way to thus expand Ripple’s business in countries where regulation is supportive of the crypto and blockchain industry. 

With Metaco, Ripple can in fact provide customers with the technology to custody, issue and liquidate any type of tokenized asset.