$XRP has welcomed an additional $900 million worth of tokenized real-world assets within a day, bringing total assets to the $3.5 billion milestone.
The sudden spike in $XRP’s RWA value comes specifically from Justoken’s JMWH product, which recently grew from $861 million in value to $1.76 billion on the $XRP Ledger within a day. However, it remains to be seen if the latest dramatic surge reflected actual data or a technical glitch.
Key Points
- $XRP recently added nearly $900 million in tokenized RWA within a day.
- This dramatic increase came from Justoken’s JMWH product, which grew from $861 million to $1.76 billion on the XRPL.
- Following the recent surge, the total hosted RWA value on $XRP has crossed the $3.5 billion milestone.
- JMWH remains the largest tokenized product on the XRPL, representing tokenized energy backed by energy firms.
- For now, it is unclear if the latest spike reflects actual data or a system glitch.
$XRP Adds $900M in RWA Within a Day
Data from industry-standard RWA analytics platform RWA.xyz confirmed this sudden spike.
Specifically, as of April 22, the tokenized real-world assets on the $XRP Ledger had a total value of $2.616 billion, including $491 million worth of stablecoins, representing a consistent but gradual growth since the start of the year.
However, at press time, this figure has since increased to a whopping $3.53 billion, representing an increase of $895.6 million within a single day. This marks one of the largest single-day surges in the $XRP RWA ecosystem, marking a 35% increase in less than 24 hours.
Justoken’s JMWH Responsible for the Surge
Interestingly, this sudden jump reflects a rise in the value of an existing product, not the addition of a new tokenized product.
Notably, the JMWH product on Justoken was solely responsible for this surge, with its on-chain value rising from $861 million to $1.763 billion at press time.
For the uninitiated, JMWH is a digital energy token developed by Justoken, a tokenization company based in Buenos Aires.
Each token represents one real megawatt-hour of electricity, backed by energy providers. It seeks to make energy trading more open and to help track green energy from the point of production all the way to the final user.
Justoken deployed the product solely on the XRPL, with the network hosting its entire value. It appears this value has since increased with what may be a possible second round of deployment, reaching the recent $1.763 billion figure.
Now, JMWH makes up about 49.9% of the entire RWA value on the XRPL, and 70% of the represented value, being the single-largest product on the network.
$XRP Boosts Its Ranking on Global RWA Table
With the recent spike, $XRP’s ranking has drastically improved on the global RWA table.
Specifically, the XRPL has now moved to third place among the largest networks by represented real-world assets, jumping 65% over the past 30 days to $2.5 billion at press time. $XRP’s market share has also increased 71.78% within the same period to 0.71%.
Meanwhile, regarding overall real-world assets value, including represented and distributed assets, $XRP has now pushed further to the fifth position, towering over ZKSync Era, Solana, Stellar, and Polygon. $XRP now hosts $3 billion in total RWA, excluding stablecoins, representing a 60.33% increase within 30 days.
However, it is important to stress that Justoken’s official platform has still not confirmed the recent spike in JMWH’s value indexed by RWA.xyz.
At press time, Justoken still records $860 million in JMWH value. It remains to be seen if the surge reflects actual data or a glitch from RWA.xyz. As a result, investors should contain their excitement for now.
