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What happened?
XRP’s price increased by 1.5% recently, reaching $2.34, even as the broader cryptocurrency market remained flat. This upward trend is part of a larger pattern, with XRP rising 6% over the past 30 days and showing a substantial 335% increase over the last year. The recent boost is partly due to a new partnership between the Dubai Land Department and Ctrl Alt to tokenize real estate using the XRP Ledger.
Who does this affect?
This development is particularly impactful for investors and stakeholders in the XRP cryptocurrency, as well as those involved in the real estate sector looking to explore tokenization. It provides an opportunity for fractional investment in Dubai’s real estate market, which could appeal to smaller investors with minimum entry points as low as $544. Additionally, it affects potential institutional investors and other financial entities who may consider participating in or facilitating XRP-based transactions.
Why does this matter?
The partnership to tokenize real estate on the XRP Ledger signifies a promising growth avenue for XRP, potentially boosting its market value significantly. As the platform aims to handle $16 billion in tokenized real estate by 2033, this initiative could strengthen XRP’s use case and encourage more investors, thereby influencing its market liquidity and price stability. Furthermore, the upcoming prediction of XRP ETFs could further accelerate its adoption and push its value higher in the long term.
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