- Wrapped XRP will be added to the Ethereum blockchain in December, increasing the utility of the altcoin.
- The arrival of XRP on DeFi opens new markets and uses in the decentralized application ecosystem.
- Experts predict Ripple's win in SEC vs. Ripple case, implying a bull run in XRP.
Alongside positive developments in the SEC vs. Ripple case, the XRP network has bullish updates in its ecosystem. Wrapped recently announced support for XRP (wXRP) on the Ethereum blockchain, starting December 2021.
XRP arrives on Ethereum blockchain as wXRP
Behind the scenes of the ongoing SEC vs. Ripple case, the altcoin has made significant developments in its ecosystem. Wrapped tokens are pegged to the value of another cryptocurrency.
Wrapped has revealed that wXRP will hit the Ethereum blockchain in December. The wXRP token will be backed 1:1 by XRP in the DeFi ecosystem.
David Schwartz, CTO of Ripple, shared the news with crypto Twitter.
Wrapped XRP is coming to Ethereum! Great news for those that want to access XRP within Ethereum wallets, DeFi, and smart contracts.
It’s a multichain after all. https://t.co/36shyqF0Nj
— (@JoelKatz) November 1, 2021