MoreMarkets Expands Offerings for XRP Investors
MoreMarkets, a Decentralized Finance (DeFi) protocol focused on yield-generating strategies, has expanded its offerings to XRP investors. The DeFi protocol has launched an XRP Earn Account, enabling retail investors to access yield strategies typically reserved for institutional investors.
XRP Investors Could Earn Up to 20% Yield
The XRP Earn Account from MoreMarkets routes XRP deposits into smart contract vaults. Once this is done, it automatically deploys capital across curated DeFi strategies. Notably, the platform allows users to maintain self-custody while earning yield. This is a massive milestone for XRP, a coin that lacks native staking or yield infrastructure.
MoreMarkets CEO Altan Tutar commented that high-yield strategies generate annual returns of 20% or more for institutions. Thus, XRP holders could benefit from this high yield by leveraging the new Earn platform. Additionally, the product is designed for simple onboarding via email or wallet connection, with security audits completed by Halborn, Sherlock, and Sigma Prime.
MoreMarkets utilizes cross-chain infrastructure and wrapping mechanisms for its new product. This approach is similar to how WBTC or sETH enable participation in DeFi outside of native ecosystems. The DeFi protocol disclosed plans to expand the Earn Account model to other digital assets and real-world yield strategies in the future. This is part of its broader vision of creating a global liquidity marketplace accessible to both retail and institutional investors.
Meanwhile, the Earn Account model is one among the recent XRP moves in the DeFi space. In a recent study we reported on, Injective integrated XRPL EVM, allowing XRP to interact seamlessly with EVM and Cosmos-based DeFi. Furthermore, Ripple announced the mainnet launch of the XRP Ledger (XRPL) EVM Sidechain. Through this deployment, developers could build, port, and deploy cross-chain and EVM-only Decentralized Applications (DApps), as we covered in our latest report.
Implications on XRP Price
The latest Ripple pivot to DeFi could attract more users, developers, and institutional players, increasing transaction volume on the network. A thriving DeFi ecosystem could position XRP as a foundational asset, invariably leading to higher prices as demand increases. As reviewed in our recent publication, crypto analyst Egrag noted that XRP has broken out of a falling wedge, signalling a bullish trend. His prediction follows the XRP rally to its all-time high of $3.85.
If technical breakouts and institutional momentum hold, XRP may be setting up for a strong finish to July. Currently, XRP investor sentiment is relatively low. As of this writing, the XRP price was trading at $3.10, down 0.74% over the past 24 hours. The daily trading volume also decreased by 39.9% to $10.2 billion.
However, the price decline comes amid a broader market downturn. Bitcoin (BTC), the leading coin, has decreased by 2.5% within the same period to the $115,000 level. Top altcoins, such as Solana (SOL) and Dogecoin (DOGE), plummeted by 3.2% and 3%, respectively.