Solana Adds wXRP via Hex Trust — 1:1 Wrapped XRP with $100M+ Liquidity
Solana will list XRP on its network as wXRP, a 1:1 wrapped token custodied by Hex Trust and minted/redeemed through authorized merchants. Hex Trust will hold native XRP in segregated, regulated custody with auditability and insurance to back wXRP. The launch is supported by over $100 million in Total Value Locked (TVL) to provide initial liquidity and help stabilize pricing. Bringing XRP onto Solana aims to expand XRP’s DeFi utility — enabling cross-chain swaps, liquidity provision, lending, staking and decentralized trading — and may reduce circulating XRP supply while native XRP is locked in custody. The integration leverages Solana’s high throughput and low fees to unlock deeper XRP liquidity and broaden on-chain use cases. Traders should monitor wXRP liquidity, bridge flows, TVL and early DeFi adoption metrics after launch, since these will drive short-term price action and longer-term utility. While increased utility and tighter circulating supply can be bullish, they do not guarantee price appreciation; countervailing risks include custody and bridge centralization, redemption friction, and shifts in demand.
Bullish
The news is likely bullish for XRP because it increases on-chain utility and could tighten effective circulating supply while introducing new liquidity on Solana. Key bullish drivers: 1) Native XRP locked in custody to back wXRP can temporarily reduce circulating supply during high demand, creating upward price pressure. 2) Over $100M in TVL committed for liquidity reduces initial slippage and supports trading depth. 3) Listing on Solana opens DeFi pathways (AMMs, lending, staking, cross-chain swaps) that can attract retail and institutional flow, raising on-chain volumes and demand. Short-term price reaction will depend on initial bridge flows, wXRP liquidity provisioning, and whether market participants use wXRP for yield or trading. Risks and limiting factors include centralization/custody concerns, redemption friction, regulatory or operational issues at custodians or bridges, and broader market sentiment; any of these could mute the positive effect. Overall, the integration materially improves XRP’s utility and liquidity prospects, which is constructive for price over the medium term, while near-term gains will hinge on adoption and liquidity metrics.