XRP News Today: Mercado Bitcoin to Tokenize $200M Assets on XRPL Boosting XRP

Mercado Bitcoin, a prominent digital asset platform in Latin America, has unveiled plans to tokenize over $200 million in permissioned real-world assets (RWAs) on the XRP Ledger (XRPL). This initiative includes fixed income and equity income instruments and is considered one of the largest tokenization efforts by a Latin American institution on XRPL. The move is part of Mercado Bitcoin’s strategic international expansion, aimed at enhancing global liquidity and providing access to regulated digital products in South America and Europe.

XRP has been in a consolidation phase following recent market volatility. Traders are now observing whether this significant step in asset tokenization could provide the necessary narrative and momentum for a breakout. If capital continues to flow into real-world asset projects on XRPL, it could increase utility-driven demand, potentially contributing to XRP's long-term price strength.

At the time of writing, XRP was down 0.7% in the last 24 hours, trading at $2.22. Crypto analyst Ali has identified $2.38 as a key price level for XRP. Breaking through this barrier could ignite a significant rally. According to Ali, the $2.38 level is near the daily SMA 200, which has capped XRP's price since late May. A surge beyond this level would target the $2.65 level ahead of the $3 level.

In the short term, traders are closely monitoring XRP's price trends, looking for signs of a breakout. If this occurs, it could signal the start of XRP's next major upward movement. The success of Mercado Bitcoin's tokenization initiative on XRPL could play a crucial role in determining XRP's future price trajectory.