Hex Trust has introduced wrapped XRP, a fully collateralized, 1:1-backed representation of native XRP designed to unlock cross-chain and DeFi functionality beyond the XRP Ledger. The new asset will be available on Ethereum, Solana, Optimism and HyperEVM, trading alongside Ripple’s RLUSD.
wXRP will launch with more than $100 million in TVL, offering deep liquidity from day one. The minting and redemption process will be handled by authorized merchants operating in a regulated and automated environment.
All underlying XRP will be stored in segregated institutional custody, reducing counterparty risk and eliminating dependence on unregulated third-party bridges.
RippleX said the initiative reflects growing institutional demand to use XRP and RLUSD across a wider ecosystem.
Despite the strong fundamentals, XRP’s price remains in a consolidation regime. Defensive bids continue to appear around $2.00–$2.02, while supply builds near $2.05. Market structure suggests distribution rather than momentum accumulation, although long-term holders remain active at key support levels.
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