Ripple continues to drive the adoption of tokenization on the XRP Ledger, with a focus on transforming industries such as real estate and carbon credits.
Points
- Ripple is advancing tokenization on the XRP Ledger.
- The market for tokenized assets is expected to reach $16 trillion by 2030.
- Tokenization improves efficiencies and interoperability, potentially cutting global GDP losses.
- XRP’s market cap surged to $34.1 billion, overtaking USDC.
- Tokenization is poised to reshape the financial landscape.
Ripple continues to push the boundaries of tokenization on the XRP Ledger, emphasizing its potential to revolutionize various industries. At the London Tokenization Policy Summit, the $16 trillion opportunity presented by tokenization was a central focus. Tokenization involves converting real-world assets into digital tokens, facilitating easier and more efficient trading and ownership.
Experts predict that the market for tokenized assets could reach $16 trillion by 2030, driven by the widespread adoption of blockchain technology. Tokenization can significantly enhance efficiencies and interoperability between countries, potentially cutting into the 5-6% of global GDP lost annually to friction in the system. This improvement could boost long-term revenue for all market participants.
One of the key sectors poised for transformation through tokenization is real estate. By tokenizing real estate assets, owners can sell fractional ownership, increasing liquidity and accessibility. Similarly, carbon credits can be tokenized, allowing for more transparent and efficient trading in efforts to combat climate change.
XRP has recently achieved significant market milestones, with its price surging by 4.5% to a market cap of $34.1 billion, overtaking USDC to become the sixth-largest cryptocurrency. This surge is part of a broader trend as XRP has gained 14% in the past seven days and 52% since hitting a monthly low of $0.4.
The current bullish pattern for XRP suggests that this is only the beginning of its upward trajectory. Historical patterns indicate that similar multi-year falling wedge formations have preceded significant rallies, such as the one in 2017 that led XRP to its all-time high of $3.84 in January 2018.
