The XRP Ledger (XRPL) has reached a significant milestone, hitting $3 billion in total tokenized real-world asset (RWA) value. This marks a 59% increase over the last 30 days, with 291 RWA projects now on the network. Crypto pundit X Finance Bull highlighted this achievement, noting that institutions are moving toward infrastructure they can actually use. According to Ripple executive Luke Judges, the total tokenized RWA value may already be closer to $3.75 billion. Ripple itself is tokenizing its RLUSD stablecoin on the XRPL, with a total value of nearly $382 million, while Ondo Finance has tokenized short-term government treasuries worth $323 million. Justtoken's JMWH, representing real-world energy-backed transactions, is the largest tokenized asset on the network at $1.76 billion.
Despite this fundamental growth, XRP's price remains under pressure. The token is trading around $1.39, down over 2% in the last 24 hours, and has fallen below its 50-day exponential moving average at $1.41. Crypto analyst Egrag Crypto stated that XRP's wave 2 downside move is not yet complete, with the market still shaking out weak hands. Key support levels to watch are $1.46 (immediate), $1.13 (breakdown confirmation), and between $0.90 and $0.73 (likely wave 2 completion). A bullish invalidation would require reclaiming the $1.80-$2 range, potentially triggering a Wave 3 expansion toward $5, $8, or $13.
Compounding the uncertainty, crypto analyst Ali Martinez reported that whales moved 1.10 billion XRP over the past week, sparking debate over whether this represents distribution or redistribution. While one CryptoQuant report suggested whales were 'waiting for a rally to sell,' Santiment data shows 34.94 million XRP left exchanges in a single 24-hour period on April 24—one of the largest daily outflows of 2026—which some interpret as a bullish sign of shrinking sell-side supply. Institutional interest continues, with spot XRP ETFs seeing steady inflows and Ripple-backed Evernorth planning to raise over $1 billion for an XRP treasury. Immediate support is near $1.30, while resistance sits at $1.41, $1.52, and $1.60.
