Ripple CEO Advocates for RWA Tokenization, XRP Price Fluctuates 15%

Ripple CEO Brad Garlinghouse has been vocal about his support for real-world asset (RWA) tokenization, a trend that is gaining traction in the financial industry. Garlinghouse, along with other prominent figures in the crypto space, believes that tokenization will make traditional assets more accessible and efficient. This sentiment is echoed by XRP lawyer John Deaton, who praised Garlinghouse for his advocacy and highlighted the potential of crypto to eliminate intermediaries and democratize access to wealth.

Garlinghouse emphasized that RWA tokenization is reshaping finance, making it more efficient and accessible. Ripple, the company behind XRP, has been at the forefront of this movement, with its XRP Ledger (XRPL) playing a central role in the institutional adoption of tokenized assets. The platform supports a variety of assets, including treasuries, commodities, and stablecoins, through initiatives like RWA.xyz.

Deaton, in his support for Garlinghouse, also highlighted the benefits of crypto, stating that it helps eliminate intermediaries like banks and other financial institutions. This shift, he believes, could help more people achieve financial independence and the "American Dream." The alignment of vision between legal and corporate voices in the crypto market underscores a growing consensus on the future of asset tokenization.

As the push for RWA tokenization gains momentum, the price of XRP has seen fluctuations. On April 6th, the price of XRP started the day with overbought pressure, reaching a high near $2.1594. However, resistance at this level halted the rally, and a death cross on the MACD line signaled a bearish reversal. This was followed by several oversold signals on the RSI, indicating persistent selling pressure throughout the day. The price briefly stabilized at $2.0457 but failed to hold that support, confirming the bearish momentum and dragging the XRP price into a lower range.

The downtrend continued into April 7th, with a second death cross on the MACD accelerating the decline. By 4:45 UTC, XRP found temporary support at $1.7791. Further oversold conditions pushed the price even lower, and by 6:50 UTC, it tested a new support level at $1.6133. However, a golden cross at 7:10 UTC hinted at a potential bullish reversal. As bullish momentum grew, it bounced back into its previous range, with support at $1.7791 and resistance at $2.0457. If this momentum continues, it could break $2.0457 and test higher levels around $2.22-$2.25.

Despite the price fluctuations, the overall sentiment around XRP remains bullish, supported by the growing adoption of tokenized assets and the optimism surrounding Ripple's ecosystem. The push for RWA tokenization, championed by Garlinghouse and others, is expected to continue driving innovation and efficiency in the financial industry. As the market evolves, XRP is positioned to play a significant role in this transformation, reflecting its relevance within the broader crypto market shift toward tokenized economies.