XRP (XRP) is breaking out of its native ecosystem in a big way. Hex Trust just launched wXRP, a regulated wrapped version of the token that brings XRP's liquidity and utility to Solana (SOL), Ethereum, Optimism, HyperEVM, and other networks.
A Wrapped Token With Real Backing
Here's what makes this interesting: wXRP is fully backed 1:1 by actual XRP held in custody by Hex Trust, a regulated institution. That matters because it means users don't have to rely on sketchy third-party bridges that have historically been security nightmares in crypto.
The token launches with over $100 million in total value locked right out of the gate, which translates to meaningful liquidity from day one. Users can trade it, provide liquidity, earn rewards, and move it across chains with institutional-grade custody backing the whole operation.
This also strengthens the relationship between XRP and RLUSD, Ripple's stablecoin, by creating new liquidity pairs and extending XRP's DeFi footprint beyond the XRP Ledger.
Ripple Gets Banking License
In separate news, Ripple CEO Brad Garlinghouse announced that the company received conditional approval from the Office of the Comptroller of the Currency to charter Ripple National Trust Bank. This gives RLUSD dual oversight from both federal regulators and the New York Department of Financial Services, a significant regulatory win for stablecoin compliance.
Ripple CTO David Schwartz noted that expanding XRP ecosystems means more real utility, with the XRP Ledger serving as the secure foundation that keeps everything connected. Hunter Horsley praised the development as a step toward crypto ecosystems collaborating rather than competing, framing the real challenge as crypto collectively moving beyond legacy finance rather than fighting among themselves.
Technicals and Whale Activity
Analyst Ali Martinez flagged recent whale selling of approximately 280 million XRP and identified three key price levels to watch: resistance at $2.17, with support levels at $1.96 and $1.78.
