CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 4054.25, down 2.3% (-94.67) since 4 p.m. ET on Tuesday.

One of 20 assets are trading higher.

Leaders: BCH (+0.3%) and ETH (-0.8%).

Laggards: XRP (-5.2%) and ADA (-5.1%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

VERT, a Brazilian securitization and fund manager, said on Wednesday it debuted a blockchain-based platform to handle private credit transactions on the XRP Ledger (XRP) and its Ethereum-compatible sidechain, bringing more tokenized real-world assets to the ecosystem.

The platform’s first transaction was the issuance of a BRL 700 million, or $130 million, Agribusiness Receivables Certificate (CRA), a regulated instrument used to finance agricultural production, according to a press release.

The CRA pools future cash flows owed by agribusinesses such as loan repayments into securities for investors. Agriculture accounts for over 20% of Brazil’s GDP, making the sector a key testbed for digital financial tools.

The issuance underscores the accelerating trend of real-world asset (RWA) tokenization, using blockchain rails to handle transactions with traditional financial instruments like bonds, credit and funds. The process promises faster and more efficient settlements and broader investor access compared to traditional banking channels, especially in emerging economies with less developed capital markets.

XRP Ledger’s role as a tokenized RWA hub has been growing, with Dubai selecting the network for its ambitious real estate tokenization plan to put $16 billion of property deeds on-chain by 2033.

By recording the asset’s issuance and lifecycle events directly on-chain, VERT said its system improves transparency and traceability for structured credit operations. The platform integrates with Brazil’s regulated financial infrastructure and uses off-chain redundancy to meet compliance standards, the firm said.

«It is a concrete step towards the evolution of tokenization as a structural pillar of the modern capital market,» Gabriel Braga, digital assets director at VERT, said in a statement. «Tokenization also addresses the demand for greater transparency of operations, coming mainly from foreign investors.»

Ripple, a key contributor to the XRP Ledger, also contributed in the project.

«Agribusiness plays an essential role in Brazil’s economy, and improving how credit is structured and tracked in this sector is a meaningful advancement,» said Silvio Pegado, Ripple’s managing director of the Latin America region.

«This milestone demonstrates how blockchain technology, through the XRP Ledger, can serve as reliable infrastructure for modernizing financial markets that are foundational to national growth.»

VERT said future plans include to expand the platform to additional asset classes and structured credit deals worth over $500 million.

Read more: Backed Finance’s Tokenized Stocks Product Volume Jumps to $300M

XRP traded in a wide $0.11 range between $3.46 and $3.57 during the 24-hour period ending July 23 at 08:00 GMT. The asset posted a 3% swing as bulls drove price to a session high of $3.57 on 106.4 million volume, before profit-taking triggered a reversal back to $3.46.

The late decline broke key support at $3.50, which had been retested multiple times overnight.

Volume surged as institutional flows reacted to a confluence of catalysts: advancing U.S. crypto legislation, fresh ETF approvals, and long-awaited technical pattern completion. Analysts still point to $6–$15 price targets long term, but warn of short-term consolidation risk.

News Background

• XRP broke above $3.65 last week, completing a six-year symmetrical triangle.
• ProShares launched the first XRP futures ETF, marking a milestone in regulated institutional access.
• U.S. Congress advanced the GENIUS and CLARITY Acts, pushing forward crypto regulation clarity, fueling fund flows into large-cap digital assets.

Price Action Summary

The most aggressive move came at 17:00 GMT on July 22, when XRP jumped from $3.52 to $3.56 in under an hour on 106.4 million volume—over 50% above the daily average of 70.1 million. Resistance formed at the $3.56–$3.57 zone, capping upside and triggering a steady retreat through the overnight session.

The final hour (07:10–08:09 GMT) saw a breakdown from $3.47 to $3.46, as volume spiked to 2.5 million between 07:37 and 07:49. That move cracked the previously firm $3.49–$3.51 support band, confirming a short-term trend shift as selling overwhelmed buyers.

Technical Analysis

• 24-hour trading range: $3.46–$3.57 (3.18%)
• Bullish breakout at 17:00 July 22: $3.52 → $3.56 on 106.4M volume
• Support zone: $3.49–$3.51 tested multiple times overnight, failed by session close
• Resistance zone: $3.56–$3.57 capped rally, now defining next breakout point
• Breakdown confirmation: $3.47 → $3.46 on 2.5M volume spike
• RSI neutral; MACD turning lower — signals likely consolidation before next directional move

What Traders Are Watching

Institutional participation remains elevated amid ETF inflows and improving regulatory optics. Despite the near-term rejection at $3.57, analysts continue to flag bullish setups targeting $6.00 and even $15.00 over multi-month timeframes. The $3.50 level now acts as psychological pivot for bulls to defend in upcoming sessions.