Hex Trust Launches Wrapped XRP to Expand DeFi and Cross-Chain Utility

Hex Trust has announced plans to issue and custody wrapped XRP (wXRP), a 1:1-backed representation of native XRP designed to significantly expand XRP’s DeFi and cross-chain use cases beyond the XRP Ledger. The launch marks an important step in bringing XRP into a broader multi-chain ecosystem while addressing long-standing concerns around security, regulation, and liquidity.

The wrapped XRP asset will be tradable alongside Ripple’s RLUSD stablecoin on Ethereum, with future support planned for Solana, Optimism, and HyperEVM. By making wXRP available across major blockchain networks, Hex Trust aims to unlock new opportunities for XRP holders to participate in decentralized finance activities such as token swaps, liquidity provision, and collateralized lending without relying on unregulated third-party bridges.

wXRP is expected to launch with more than $100 million in total value locked, providing immediate liquidity and reducing early adoption friction. Authorized merchants will be able to mint and redeem wXRP in a fully regulated and automated framework, while the underlying XRP will be held in segregated, institutional-grade custody. This structure is designed to appeal to institutional investors seeking compliant exposure to XRP across multiple chains.

RippleX confirmed that the initiative aligns with growing institutional demand to use XRP and RLUSD throughout the wider crypto ecosystem. From a fundamentals perspective, the move strengthens XRP’s long-term narrative by enhancing interoperability and expanding its DeFi footprint.

Despite the positive news, XRP price action remained muted. XRP continues to trade in a consolidation range, with strong buying interest near the $2.00 psychological level and consistent selling pressure above $2.05. Recent sessions showed elevated trading volume without meaningful upside follow-through, suggesting active repositioning rather than fresh bullish conviction. As long as XRP trades below the $2.06–$2.08 resistance zone, the short-term outlook remains neutral to slightly bearish.

Overall, the Hex Trust wXRP launch materially improves XRP’s long-term utility and cross-chain relevance. However, near-term price performance is still dictated by technical levels and broader market rotation, keeping XRP in range-trading mode rather than breakout territory.