Latest news with #Zeconomy
Yahoo
3 days ago
- Business
- Yahoo
XRP Consolidates Near $2.28 Amid Slew of Wins for Ripple, XRPL
XRP XRP traded in a narrow range over the past 24 hours, consolidating between $2.27 and $2.32 as global trade tensions and diverging central bank policies weighed on investor sentiment. The digital asset demonstrated resilience amid broader market volatility, with strong buying interest emerging at key support levels. News Background Ripple's regulatory wins in Dubai and progress on stablecoin initiatives, such as RLUSD, provide a fundamental tailwind, though traders remain wary amid volatile global conditions. Ondo Finance's Ondo Short-Term U.S. Government Treasuries (OUSG) is now live on the XRP Ledger (XRPL), expanding institutional access to the institutional-grade RWA product onchain. Digital Commercial Paper (DCP), secured by U.S. Treasuries, is now live on the XRP Ledger, enhancing efficiency and accessibility. Administered by Guggenheim Treasury Services, DCP is tokenized and managed through the Zeconomy platform, offering custom maturities up to 397 days. Price Action XRP's price fluctuated between $2.264 and $2.319, representing a 2.37% range that highlights ongoing uncertainty. The token established a high-volume support zone at $2.273-$2.280, where buyers consistently emerged, stabilizing price action despite repeated tests of lower levels. Resistance formed at $2.315, where price rejections occurred during the 11th and 22nd hours, accompanied by above-average volume. In the final hour of trading, XRP experienced a sharp 2.17% decline at 01:55, dropping from $2.285 to $2.280. However, substantial buying volume of 3.9 million units emerged, reinforcing the $2.280 floor. The 01:32 candle showed the highest volume of the session at 1.8 million, confirming buyer interest at lower levels. An ascending support trendline suggests short-term stabilization, with traders eyeing potential breakout scenarios if resistance at $2.315 can be breached. Technical Analysis Recap XRP traded between $2.264 and $2.319, a 2.37% range. High-volume support zone established at $2.273-$2.280, with consistent buyer interest. Resistance formed at $2.315, with multiple price rejections and above-average volume. XRP closed at $2.284, signaling consolidation near the middle of the range. Sharp 2.17% decline at 01:55 (from $2.285 to $2.280) on increased volume. Highest volume observed at 01:32 (1.8M), confirming buyer support at lower levels. Ascending support trendline suggests short-term stabilization and potential breakout if resistance is breached.
Yahoo
4 days ago
- Business
- Yahoo
Guggenheim Treasury Services to Issue Digital Commercial Paper on the XRP Ledger
Digital Commercial Paper (DCP), a fixed income asset secured by U.S. Treasuries and rated Prime-1 by Moody's, is now live on the XRP Ledger (XRPL), a public blockchain built for the efficient tokenization of real-world assets. Administered by Guggenheim Treasury Services, one of the largest independent commercial paper platform managers in the world, and a wholly owned subsidiary of Guggenheim Capital, DCP is tokenized, issued, and managed through the Zeconomy platform. On the XRPL, DCP will leverage the network's fast settlement, low transaction costs, and round-the-clock accessibility, modernizing the issuance, transaction, and integration of commercial paper into global treasury and liquidity systems. This expansion to the XRPL builds on DCP's initial launch in September 2024, which has already processed over $280 million in issuance. DCP is fully backed by maturity-matched U.S. Treasury securities and is offered daily at custom maturities of up to 397 days. The asset has received a Prime-1 rating by Moody's, the highest rating available for a short-term debt instrument. DCP is issued through a bankruptcy-remote special purpose vehicle (SPV), Great Bridge Capital Company, established by Guggenheim Treasury Services to ensure investor protections. On the XRPL, DCP can offer institutional clients a highly efficient treasury management solution that can be seamlessly integrated into existing cross-border payment flows. 'We're at a tipping point where tokenization is evolving from experimentation to production in global financial markets,' said Markus Infanger, Senior Vice President of RippleX, said in a prepared statement. 'Institutions are no longer asking if blockchain technology can support regulated financial products, they're asking how they can deploy them at scale. The inception of DCP is a prime example of this shift, and it expands the offering of institutional financial assets coming to the XRPL," Infanger added. DCP offers an ideal solution for digital traders seeking a yield-bearing, on-chain asset to use as collateral in their strategies. 'Zeconomy's platform delivers institutional-grade modules and a powerful toolkit that brings corporations and traditional finance participants together to solve real-world problems on-chain,' said Giacinto Cosenza, CEO at Zeconomy, in a statement. 'The expansion of DCP to the XRPL is a key marker for the future of tokenized finance, combining institutional strength with the enterprise focus of Ripple." Ripple will invest in DCP as part of its broader effort to bring institutional real-world assets to the XRPL. This builds on Ripple's investment in tokenized U.S. Treasuries through projects such as Ondo's OUSG and Archax and abrdn's money market fund. DCP is available exclusively to Qualified Institutional Buyers (QIBs) and Qualified Purchasers (QPs) as defined under applicable securities laws Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
