Solana Introduces Wrapped XRP wXRP with $100M Total Value Locked

Solana is introducing a wrapped version of [XRP](https://holder.io/coins/xrp/) called wXRP, facilitated by Hex Trust and LayerZero. This will allow XRP to be used on Solana’s chain with a 1:1 backing and full redemption rights via the XRP Ledger.

wXRP will enable participation in lending markets, liquidity pools, and decentralized exchanges on Solana's network from launch.
The announcement was made at the Solana Breakpoint event, with Ripple executives highlighting XRP's features and integration benefits.
Vibhu Norby from the Solana Foundation discussed the collaboration process with Ripple and the XRP community, emphasizing wXRP's unique qualities and the planned liquidity support.
Users can engage in Solana’s DeFi sector, using wXRP without relying on centralized exchanges (CEXs).
wXRP is self-custodied and redeemable for native XRP at any time.
Ripple CTO David Schwartz noted that integrating XRP into more networks enhances its utility, while maintaining XRPL as the main value base.
wXRP will launch with over $100 million in total value locked.

Market analysts suggest that [XRP](https://holder.io/coins/xrp/) is near a "flip area," indicating potential price movement. A breakout could push prices above $2.3, while failure to hold current levels might lead to a retest of the $1.80 range.