Important Ripple News and XRP Price Update: August 11

XRP is under a lot of selling pressure at the moment, even though BTC has remained relatively stable at around $64,000. The cross-border altcoin is inches away from dipping below $1.00 for the first time in nearly two years, and we will take a look at what analysts expect from it next.

At the same time, the spot XRP ETFs had a green week, but with a major elephant in the room, while the XRP Ledger issued a worrisome scam update.

XRPL Growth and Scam Alert

The official X account of the XRP Ledger reposted Token Relations’ chart showing how Ripple’s network has grown since the start of the year in terms of tokenized real-world assets. More precisely, the total value of RWAs on XRPL has skyrocketed by nearly 400% to $4.4 billion.

Interestingly, a large portion of that came from a tokenized electricity asset from Argentina’s Justoken called JMWH. It launched on XRPL in mid-January, and its market share on the network has grown to 51%.

Separately, the account issued a warning to the entire XRP community last week about new phishing attempts and fake giveaway posts. The team emphasized that there are no “XRP airdrops or rewards given out by us, Ripple, or wallets in the community.”

… Continue reading the full article at the original source below.