Ripple Joins Dubai’s Tokenized Real Estate Revolution 🏙️🔗🏡
XRP approaches its all-time high of $3.40 as altcoins become bullish.
Ripple and Ctrl Alt facilitate Dubai Land Department real estate tokenization.
With 1,300 smart contracts and 160 coins, Ripple's XRPL EVM Sidechain gaining pace.
Ripple (XRP) recovered from $2.80 support on Tuesday to trade around $3.24 on Thursday, maintaining the uptrend. XRP's short-term technical structure supports the surge, which almost reached a new high but halted around $3.29.
Technical indications are positive, suggesting XRP will start a new price discovery period.
Dubai's tokenized real estate scheme gets Ripple backing
Ripple and Ctrl Alt, a leading tokenization infrastructure platform, will develop the Dubai Land Department's (DLD) first real estate tokenization initiative. The release states that Ripple would deliver a scalable and secure blockchain platform for Dubai's real estate title deed tokenization.
Ripple is extending the XRP Ledger (XRPL) custody utility throughout Europe, the Middle East and Africa, Asia-Pacific, and Latin America.
“The DLD choosing the XRPL for this is exciting and reinforces its status as the blockchain of choice for serious financial use cases. We're thrilled that Ctrl Alt picked our institutional-grade digital asset custody solution to assist this initiative, said Reece Merrick, Ripple's Middle East and Africa Managing Director.
Ripple's XRPL EVM Sidechain is gaining popularity as it enters the Middle East real estate market. RippleX said that over 1,300 smart contracts, 17,000 new addresses, and 160 coins had been released for the sidechain protocol.
Technical outlook: XRP bulls seek record highs
XRP is displaying optimistic indicators that might bridge the gap to January's record $3.40 high.
To confirm the rally, traders will watch XRP breach above the record high. Rejection may escalate the slide by 13% to Tuesday's $2.80 support.
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