Ripple’s XRP Ledger has announced a partnership with Axelar, driving a 6% surge in AXL’s price to $0.81. This collaboration, unveiled at XRPL Apex 2024, will use Axelar as the exclusive bridge for Ripple’s XRPL EVM sidechain.
This move aims to boost interoperability and open new doors in decentralized finance (DeFi) and real-world assets (RWAs). The XRPL EVM sidechain will leverage Axelar to convert XRP into wrapped XRP (eXRP), which will serve as the native asset and be used for gas fees.
Ripple’s recent initiatives also include plans for a dollar-pegged stablecoin and a collaboration with Georgia’s central bank. Despite these developments, XRP’s price remains at $0.49, though analysts are optimistic about future regulatory clarity.
This strategic partnership underscores Ripple’s commitment to innovation and expanding its ecosystem, potentially marking a significant shift in the blockchain landscape.
