Ethereum and Ripple have climbed the charts, claiming new heights! Ethereum hit an ATH of $ 4,638 with gains of 11.64% in 24-hour trade volume. In addition, XRP Price battled rivals Solana and Cardano to hold on to the 3rd position.
On the other hand, Polkadot did his best to turn Ripple over. However, with the launch of Wrapped XRP slated for December, altcoin is hoping for bullish momentum. Additionally, the first altcoin was confident of winning the SEC lawsuit.
Welcome packed XRP!
Wrapped.com on October 29 announced that the platform was scheduled to launch Wrapped XRP (wXRP) on the Ethereum blockchain in December. The main goal of the collaboration is to improve interoperability between DeFi tokens and enable merchants to trade with a wide range of decentralized applications.
Additionally, Wrapped revealed that they will now make it easier to support Wrapped XRP (wXRP) on the Ethereum blockchain. The protocol that will be supported 1: 1 by XRP could be leveraged across Ethereum’s DeFi ecosystem. This signaled the green light for altcoin price action, where the asset has reached $ 1.21 with 18.07% in the last 7 days.
In addition, the Ethereum market is too elated with huge gains followed by the wXRP calendar. The latest wrap support announcement would help drive the adoption and expansion of Ethereum by enabling support for multiple DeFi tokens. Interestingly, the price of ETH hit an ATH and continued to manage the uptrend with tiny corrections.
Collectively, the final step of Wrapped.com has shown the strong potential to further catalyze the price action of Ethereum and XRP. Initially, the launch of wBTC (wrapped BTC) in January 2019 pushed up the price of Ethereum as well as Bitcoin. Therefore, the community hopes for a repeat of the same trend.