The global financial world continues to move towards one of its biggest transformations – tokenization of RWAs. This has been further revealed by the U.S. Department of Energy ’s decision to utilize the XRP protocol to build digital settlements for energy trades. In a statement on its platform, the agency said it is building an energy settlement infrastructure on the XRPL. U.S. Energy Department adopts XRP for energy trading The U.S. Department of Energy (DOE) is a government agency responsible for advancing America’s energy security through reliable, clean, and cost-effective energy. In an official communication, the federal department disclosed that it is using the XRP protocol to develop blockchain applications tailored to energy market needs. As stated in the report, the entity is developing infrastructure to enable digital trade and settlement of electricity and energy transactions based on the XRPL. By using the protocol, the agency wants to improve the efficiency of energy transactions and charge settlements. It is utilizing the ledger to build on-chain utility for energy assets, linking electricity usage to RWA trades. Ripple gains major corporate boosts The development shows that XRPL is rapidly becoming the top blockchain choice for powering RWAs. This shows that rising interest in tokenization is no longer a fad. Big corporations are already developing systems that bridge TradFi with the on-chain world. The DOE has joined several prominent corporations, believing in the capability of on-chain-based offerings. This demonstrates how TradFi offerings are being innovatively operated, traded, and managed on on-chain networks. It’s clear evidence that Ripple’s ledger is becoming a vital settlement architecture for RWAs due to its seamless payment network, swift settlement, and affordable fees. RWAs require strong ecosystems for swift, affordable transfers of utilities. Ripple’s architecture makes it convenient for such digital utilities and institutional capital transfers. Its robust liquidity bridge also makes it a top candidate, allowing utilities to transit effortlessly across various markets.

Bitcoin has seen another slump amid a broader market sell-off, temporarily sinking to $68,000 before rebounding to the $69k level. The asset currently trades at $68,870, down 9.2% over the past week, as massive crypto liquidations hit long positions amid renewed market volatility. Bitcoin falls below $70,000 Dropping below the $73k support triggered a second leg down following recent waves of liquidations driven by recent U.S. midterm elections and the Binance hack, which altered market sentiment. Statistics indicate that this is the first time BTC has plummeted below $70k since August. With the market embracing this downward trajectory, it’s apparent that short sellers have gained control of the bearish momentum. The asset is currently testing the $68k region, and a drop below that support could pave the way toward $65,000. According to data reported by CryptoQuant , the decline is largely driven by increased selling pressure amid rising anxiety over possible December interest-rate hikes, surging U.S. Treasury yields, U.S. Dollar appreciation, and weakness in AI-related stocks, pushing investor sentiment toward risk aversion. The Bitcoin Bull Cycle Drawdowns indicator (shared by CryptoQuant) showed that the token is down about 19% from its ATH, surpassing the historical average drop-offs seen in previous bull markets. However, the data showed that as long as the wider bull market structure remains stable, historical drop-off patterns suggest the current price range could be a key area for a possible market bottom. Peter Schiff says BTC’s downtrend is not over Meanwhile, American stockbroker Peter Schiff has warned that BTC is in a long-term bear market and its downtrend is far from over. In his post, the renowned economist said the token is retreating below its 2021 ATH of $69k, describing the fall as a key indicator of weakness. In a crypto podcast aired on Thursday, Schiff cautioned that BTC could crash below $10k, claiming the market could have already hit the ceiling despite the rising political and corporate backing. He said the asset has failed to gain traction despite favorable developments, including President Trump’s support and institutional adoption. He is convinced that the asset’s failure to surge on positive developments indicates declining demand and could trigger further selling.