- Bob Ras credits Sologenic with rejuvenating XRPL’s DEX, emphasizing the need for more comprehensive innovation assistance within the ecosystem.
- Ras asks Ripple to adopt a more equitable funding strategy that promotes growth among the XRPL developer community.
Co-founder of Coreum, Bob Ras, has ignited an interesting Twitter conversation about Ripple’s impact on innovation within the XRP Ledger (XRPL) ecosystem.
Despite these restrictions, Ras, a prominent member of the XRPL community, believes that Sologenic, which he co-founded, has revived XRPL’s decentralized exchange (DEX) by highlighting the ledger’s potential and encouraging new project innovations.
(1/10)🧵Unleashing XRPL's Potential!
Calling all #XRPL believers! @Ripple, @RippleXDev, @bgarlinghouse – This isn't FUD, it's a wake-up call. As a founding member of an early XRPL project, I'm deeply concerned about recent events. Let's break it down.— Bob Ras (@bobrasX) March 25, 2024
Reviving XRPL’s DEX: The Significance of Sologenic
Ras thought back to the time before Sologenic, when XRPL had used relatively little DEX. A turning point was reached when Sologenic revealed itself as an XRPL development. This raised the ledger’s profile and promoted an atmosphere that encouraged creativity.
In spite of the regulatory uncertainty, which the SEC’s action against Ripple made worse, Sologenic persisted and moved on to create Coreum, a new blockchain that will outperform XRPL by incorporating smart contracts and interoperability features that XRPL does not.
As a result of this change, a decentralized bridge between XRPL and Coreum was created, creating additional channels for asset transfers and expanding the ecosystem’s potential for both users and developers, echoing earlier coverage by ETHNews.
Ras, on the other hand, criticized RippleX for allegedly spreading false information on the bridge of a different chain and suggested that Ripple should implement a more welcoming support approach for the XRPL development community.
Using the revolutionary rise of the iPhone in the IT sector as an example, Ras emphasized the dangers of stagnation without innovation. He argued that Ripple should broaden its funding strategy and support more initiatives in the XRPL ecosystem than just those run by select partners or former employees.
The Bullish Breakout of XRP: A Technical Examination
In the midst of continuing conversations over innovation in the XRP Ledger ecosystem, renowned cryptocurrency analyst Captain Faibik has offered a perceptive technical forecast for XRP.
$XRP is on the verge of Massive Symmetrical Triangle Breakout on the Weekly TF Chart..📈
Midterm Target : $2.50 🔜#Crypto #XRP #XRPUSDT #XRPArmy pic.twitter.com/pUD7rJ8Qah
— Captain Faibik (@CryptoFaibik) March 18, 2024
According to Captain Faibik’s research, XRP is very close to a crucial breakout, which can be seen on the weekly chart as a big, symmetrical triangle formation. This structure suggests a positive outlook for the market and an aggressive midterm price goal of $2.50 for XRP.
Meanwhile, the price of XRP has climbed 2.76% in the previous 24 hours, to $0.6478. This reflects a 12.35% increase over the previous 7 days.