Wormhole’s Partnership with Ripple Labs Fuels 45% Price Surge
Wormhole, a top cross-chain communication protocol, is on the rise. It has seen a 45% increase from its yearly low.This growth came after a partnership with Ripple Labs. The token price hit $0.076 on Saturday,its highest since June 11. The partnership will allow multi-chain interoperability with XRP Ledger and XRPL EVM Sidechain.
This collaboration will enable cross-chain messaging and asset transfers. It aims to make XRP Ledger a key player in decentralized finance and real-world asset tokenization. The token’s value has climbed as user activity and total value locked have risen. Users have jumped to 47,600 this month, up from 38,000 last month. The total value locked reached $2.8 billion, up from $2.5 billion in March. Open interest also rose to $30 million, its highest since March 24.Though, there are risks. The weighted funding rate has turned negative, and bridge volume has dropped. The price may continue to rise, with the next target being $0.1180. A drop below $0.0511 could invalidate the bullish view.
Wormhole’s price surged after the partnership.It has formed a double-bottom pattern. The price may continue to rise, but risks remain.The bridge volume has fallen, and funding rates are bearish. The daily chart shows a bullish crossover. The price may reach $0.1180. A drop below $0.0511 could change this trend.
- Wormhole’s price rose after the partnership.
- Users and total value locked have increased.
- Bridge volume has plunged, and funding rates are bearish.
For more details, visit CoinGecko.
