XRP Goes Live on Injective After XRPL’s EVM Launch; INJ Price Dips

Injective has integrated XRP into its platform via the XRP Ledger EVM Sidechain, marking a significant milestone in on-chain finance. With this move, Injective has become a pioneering blockchain to tap into XRP’s potential. Despite this major development, the INJ price has plummeted by nearly 5% today.

Injective Integrates XRP via XRPL EVM

In a recent X post, Injective announced the strategic collaboration with Ripple and XRP Ledger, adopting the XRP token. This development follows XRPL’s recent integration of EVM, which introduced Ethereum compatibility and smart contract functionality to the network, further enriching its ecosystem.

Significantly, this integration marks a major milestone in expanding the utility and accessibility of XRP. Injective noted in the post that it has become “the first major chain to integrate Peersyst’s XRPL’s EVM mainnet, enabling a seamless gateway into one of the largest assets in all of crypto.”

Following this development, the XRP price has seen a notable gain of 6.8%, hitting a weekly high of $2.319. Though the token soon plummeted to $2.19, it is still trading in the green zone, with a 1.13% surge over the past 24 hours. The trading volume has also surged by a massive 114%, reaching $4.14 billion.

On the other hand, the INJ price has seen a sharp decline of 4.9% in a day, though it surged to a daily high of $11.15 earlier today. At present, the INJ token is trading at $10.42, with a weekly loss of 10% and a monthly decline of 11%. The trading volume, currently at $82.36 million, saw a decrease of 4.5%.

Companies Turn to XRP for Treasury Assets

While Injective has become the latest to join the XRP fray, many companies are already adopting the token, with others planning to follow suit. As lawyer John Deaton revealed in his recent X post, public companies are increasingly embracing XRP as a strategic treasury asset, signaling a major shift in institutional crypto adoption.

“There are already at least 5 companies implementing an XRP Treasury Strategy,” said Deaton. He highlighted the list of companies that have heavily invested in the token. For instance, Vivopower International raised $121 million to fund a $100 million XRP treasury, aiming to become the first publicly traded company centered on XRP. This move is backed by Saudi investors and advised by Adam Traidman, former executive at SBI Ripple Asia.

Other XRP investors include Worksport Ltd, Hypperscale Data Inc., Webus International Ltd., and Wellgistics Health Inc. While Hyperscale plans to launch an XRP lending platform by late 2025, it intends to see the token as a balance sheet asset.

As earlier reported by CoinGape, the China-based Webus International partnered with Samara Alpha Management to manage a $300 million XRP treasury for cross-border settlements and Web3 applications. At the same time, Wellgistics Health Inc. is utilizing the token for real-time payments to reduce traditional banking delays.

The integration of Ripple’s token into Injective’s platform and the growing adoption of the token as a treasury asset by major companies signal a significant shift in the crypto space. Institutional interest continues to surge, driven by the nearing Ripple lawsuit and the XRPL EVM Sidechain launch.