The XRP price is down 8% this week and is now trading around $0.55. This shouldn’t worry holders too much considering a broader crypto market downturn during the same period. Many altcoins are down in double-digits, for instance, Solana is down over 20%.
YouTuber “NCashOfficial,” who recently crossed 100k subscribers, posted a video about XRP updates.
Monica Long, Ripple’s president, has expressed strong confidence in the company’s future. She emphasized that the efforts and groundwork laid by Ripple are expected to pay off significantly in the coming years. Long believes that the next one to two years will be particularly transformative for Ripple, reflecting the cumulative impact of their ongoing projects and developments.
A key focus for Ripple is institutional DeFi, particularly through innovations on the XRP Ledger. This includes new protocols and partnerships aimed at enhancing financial services, making them more competitive and accessible. Long highlighted the importance of the XRP Ledger’s new features, such as the EVM side chain integration and the lending protocol, which are expected to drive significant growth and adoption.
Read also: Here’s Why Ripple Has ‘The Upper Hand’ Against SEC – Will XRP Price Hit $1?
What you'll learn 👉
Quarter 2 2024 XRP Markets Report and Legal Milestones
The recent XRP Markets Report for Q2 2024 reveals growing institutional interest, with mentions of Ethereum and Bitcoin spot ETFs. The report also discusses the impact of macroeconomic factors such as inflation, interest rates, and unemployment on market sentiment. The current market decline is attributed to various factors, including Bitcoin halvings and legal battles.
Ripple has been actively involved in regulatory progress across the globe, including donations to pro-crypto political candidates and regulatory efforts in Asia, Latin America, and the UAE. The company has also achieved significant legal milestones, notably the dismissal of class action claims regarding XRP’s status as a security.
XRP Ledger Innovations and Future Plans
The XRP Ledger is undergoing substantial innovations, including EVM side chain integration to enhance interoperability, crucial for DeFi applications. Key amendments introduce oracles and a multi-purpose token for institutional DeFi. Ripple has also formed significant partnerships, including one with Arix, expected to bring substantial tokenized assets to the XRP Ledger.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +A new lending protocol is being introduced to enhance on-chain lending, offering more competitive and efficient financial services. The protocol’s modular design allows for various applications, including yield farming and fixed-term interest loans, with a significant push towards attracting institutional participation in the DeFi space on the XRP Ledger.
Read also: This Crypto Expert Predicts Where The JasmyCoin (JASMY) Price Is Headed Next
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
