Ripple CTO David Schwartz clarifies that while XRP Ledger began as a copy of Bitcoin in 2011, it has since evolved and relinquished some of its similarities, addressing flaws and establishing a more sustainable digital asset for payments.
Despite a recent crash, Ripple's largest token holders are accumulating massive amounts of XRP in anticipation of a potential bull market and the outcome of the SEC case.
Dig Perspectives, a prominent figure in the XRP community, is more excited about XRP becoming a world reserve currency than achieving a potential $25 price surge. This challenges the conventional discourse surrounding cryptocurrencies, and while some experts are skeptical, Ripple CTO David Schwartz is more optimistic about digital assets challenging the dominance of the US Dollar as the world reserve currency.
The global digital assets market, including cryptocurrencies like XRP, is projected to account for up to 10% of all assets by 2030, potentially reaching a valuation of over $14.5 trillion, driven by factors such as the growing adoption of cryptocurrencies, stablecoins, and central bank digital currencies, as well as regulatory certainty and institutional investor interest. Pro-XRP analysts suggest that XRP could become the next big thing in the financial market, with the potential for significant returns, especially considering Ripple's efforts to expand its use cases and accommodate tokenized assets.
The State Bank of Pakistan mentioned XRP in its annual financial stability report, acknowledging its role in facilitating cross-border payments and highlighting its potential benefits in enhancing financial inclusion, although it also acknowledged the risks associated with cryptocurrencies such as money laundering and terrorism financing.
South Korean investors in their 20s show a preference for investing in XRP over Bitcoin and Ethereum, with 20.7% of their investment portfolios allocated to XRP.
XRP has the potential to revolutionize cross-border payments and has gained partnerships with over 100 financial institutions, while also being utilized for various other projects such as tokenization and decentralized finance.
XRP Ledger has closed its 82 millionth ledger, reaching a significant milestone, with the current ledger index at 82,035,421, according to XRPL Services, an XRPL explorer. Additionally, Evernode has made updates to resolve issues related to the nomad contract.
XRP, one of the largest tokens by market cap, has lost a significant amount of value due to bearish sentiment in the market and the impact of Ripple Labs' court ruling with the SEC, reversing its gains from earlier this year.
GateHub and XRPL Labs have partnered to enable seamless interaction between XRP Ledger and other networks such as SWIFT, Bitcoin, and Ethereum, allowing for value transfer and increasing convenience and adoption of cryptocurrency payments.
XRP is approaching its third bullish golden cross in history, which could lead to significant price surges, according to popular analyst Egrag Crypto.
Prominent cryptocurrency figure Ben Armstrong shares a video update highlighting the importance of XRP, emphasizing its nature, functionality, transaction efficiency, community engagement, diverse use cases, and the clarity of its regulatory status in the US.
XRP20, the yield-bearing 'XRP on Ethereum' coin, is benefiting from rumors of a potential listing on Robinhood, following its successful trading debut on Uniswap, with 23 billion tokens staked and locked liquidity of 71% for one month, making it an ideal buy setup for potential gains.
XRP's price is showing a small increase, but it remains bearish on both the hourly and daily charts, with a potential decline to the $0.51 and $0.50 range in the near future. The altcoin is currently consolidating within the $0.50-$0.54 range.
XRP's trade volume has surged on top crypto exchanges, despite its recent decline in price, while other altcoins are struggling to reach their yearly high trade volumes.
Peersyst Technology, a core developer of the XRP Ledger (XRPL), has announced updates for the XRPL Ethereum Virtual Machine (EVM) sidechain, including compatibility with MetaMask, bringing it closer to its mainnet launch.
XRP community figure anticipates a yearly surge for XRP, drawing parallels to Bitcoin's price movements and expecting a breakout in 2024 or 2025.
Millions of XRP have been transferred to the Bitstamp crypto exchange as the price of XRP searches for a bullish trigger and remains in a consolidation phase.
Western Union is considering using Ripple's blockchain technology and XRP token to optimize capital and settle transactions, reflecting a growing trend of major financial institutions incorporating cryptocurrencies into their business.
XRP gained 1.43% on Friday, despite the negative influence of a hawkish Fed chair speech, with investor hopes of a Robinhood listing and a favorable SEC ruling driving price support.
### Summary
Ripple (XRP) has seen a significant rise in price due to a bullish trend in the cryptocurrency market, positive news about partnerships, and its growing popularity in South Korea. Financial institutions are adopting Ripple's technology for cross-border payments, validating the utility of XRP. However, caution is advised as the market remains highly volatile, and XRP's future performance is uncertain.
The XRP price is currently in a bearish trend, with a potential downward breakout from the bearish pennant pattern leading to a further decline in price; however, a bullish breakout above the upper trendline could trigger a significant rally.
XRP is experiencing a significant increase in on-chain volume and development activity, while Bitcoin's recent dip is attributed to fear, doubt, and uncertainty surrounding the potential rejection of spot market BTC exchange-traded fund applications, according to Santiment.
Large traders in the US drove buying demand of XRP after Ripple's court victory over the SEC, with Coinbase experiencing stronger levels of buying, according to digital asset research firm Kaiko.
Ripple (XRP) price consolidation may be followed by an imminent rally fueled by rumors of Blackrock's integration of XRP in its crypto expansion strategy, as indicated by on-chain data and trading sentiment.
Ripple CEO Brad Garlinghouse believes that XRP could become the next Bitcoin if it successfully addresses a multi-trillion-dollar problem and leverages its competitive edge in the regulated traditional finance sector.
The trading volume of XRP, a cryptocurrency, has surged since the start of 2023, surpassing other altcoins, following a court decision declaring it not an unregistered security, resulting in its relisting on major US exchanges; however, XRP's price has decreased from its peak in mid-July.
