XRP Ledger (XRPL) is gaining serious traction as one of Latin America’s largest tokenization initiatives takes flight, with the market now looking if it could be the spark XRP bulls have been waiting for.
Mercado Bitcoin, a leading digital asset platform in Latin America, has announced plans to tokenize more than $200 million in permissioned real-world assets (RWAs), including fixed income and equity income instruments, on XRP Ledger (XRPL).
The initiative is billed as one of the largest tokenization efforts by a Latin American institution on XRP Ledger and a strategic move in Mercado Bitcoin’s international expansion to boost global liquidity and access to regulated digital products in South America and Europe.
XRP has been in consolidation following recent market volatility, with traders now watching to see if this bold step in asset tokenization may offer the narrative and momentum required for a breakout. If capital continues to flow into real-world asset projects on XRPL, an increase in utility-driven demand would be expected, which might contribute to XRP’s long-term price strength.
Key level to watch
At the time of writing, XRP was down 0.7% in the last 24 hours to $2.22. Amid the recent consolidation, crypto analyst Ali has identified a key XRP price level that could determine the token’s next big move. According to Ali, $2.38 is the key price barrier XRP must break through to ignite a significant rally.
“The key resistance level for XRP is $2.38. Breaking above it could trigger a major move,” Ali wrote in a recent tweet.
The $2.38 level remains significant, as it is near the daily SMA 200, which has capped XRP price since late May. A surge beyond here would target the $2.65 level ahead of the $3 level.
In the short term, eyes are on where the XRP price trends next, with traders watching closely for a breakout. If this happens, it might signal the start of XRP’s next major leg up.