Axelar's AXL Surges 11% Following mXRP Launch, But Can It Break Its Downtrend?

The cryptocurrency market saw a notable surge in Axelar's (AXL) price, jumping 11% following the launch of mXRP, a new DeFi-compatible XRP yield product. This development, a collaboration between Midas, Axelar, and Hyperithm, aims to provide a novel way for XRP holders to earn yield. However, the question remains whether this positive momentum can help AXL reverse its months-long downtrend.