XRP Seeing Growing Demand from RWA Tokenization, ETF and Institutions at Once: Evernorth

XRP is witnessing massive demand from across multiple fronts at once, recording capital inflows from real-world asset (RWA) tokenization on the XRPL, ETF inflows, and new wallets. Evernorth, a Ripple-backed digital asset treasury firm, revealed the development amid significant recovery in XRP price.

Huge RWA Tokenization Growth on XRPL: Evernorth Holdings

Tokenized RWAs on the XRPL network have grown significantly from almost $150 million a year ago to more than $4 billion, Evernoth Holdings revealed on July 7. This marks a notable growth despite the bear market.

XRP treasury Evernorth highlighted that more than 500 products now live on XRPL. Notably, JMWH and Ondo Short-Term Government Bond Fund are leading tokenized assets representing nearly $2.5 billion in value.

As CoinGape earlier reported, JPMorgan, Ripple, Mastercard, and Ondo Finance completed first cross-border tokenized treasury settlement on XRPL. The transaction was settled in about 4 seconds.

in about four seconds,” Evernoth noted. It added that XRP is recording massive capital inflows from RWA tokenization.

XRP ETFs Record Consistent Inflows

Evernorth revealed that spot XRP ETFs follow tokenized RWA in capital inflows. XRP ETFs have recorded consistent inflows as compared to Bitcoin and Ethereum ETFs.

Spot XRP ETF inflows reached an 8th week streak, totaling $1.49 billion in cumulative net inflows. Notably, the spot ETFs recorded $17.19 million in total inflows last week. However, it is 4x smaller than the tokenized RWA market.

Evernorth has noted that these inflows signal a shift toward massive institutional participation. It bridges tradFi with the crypto market, as total net assets under management reach $1.05 billion.

Rise in XRP Wallets

XRP price recovered more than 14% recently before paring gains. The price is currently trading at $1.13, with a 24-hour low and high of $1.11 and $1.16, respectively. Furthermore, trading volume has increased by almost 50% over the last 24 hours.

Evernorth claimed the recent recovery came amid a massive rise in new wallets last week. New wallets have increased from 18.1K to 26K within a few weeks. This marks the highest weekly count since March.

Meanwhile, CoinGlass data showed massive buying in the derivatives market in the past few hours. At the time of writing, the total XRP futures open interest jumped 1% to $2.38 billion in the last 4 hours. Futures OI on CME jumped 3.21% and almost 0.75% on Binance.