- The XRPLedger is a smart contract-enabled protocol that is experiencing growth due to the increasing adoption of the platform by new projects, and the rebuilding of its capabilities to support such projects.
- Despite XRP’s primary designation as a payment token, the XRPLedger powers various smart contract functionalities, bringing it to par with other layer-1 protocols. The XRPLedger’s positioning has contributed in part to the recent growth trends being printed by XRP, which is currently changing hands for $0.5473, up by 9.84% over the past 24 hours and by more than 30% in the trailing 7-day period.
The XRPLedger’s smart contract capabilities are powering growth in XRP despite the ongoing SEC lawsuit. The XRPLedger is a smart contract-enabled protocol that is experiencing growth due to the increasing adoption of the platform by new projects and the rebuilding of its capabilities to support such projects. Despite XRP’s primary designation as a payment token, the XRPLedger powers various smart contract functionalities that bring it to par with other layer-1 protocols.
The XRPLedger’s positioning has contributed to the recent growth trends being experienced by XRP. At the time of writing, XRP is changing hands for $0.5473, up by 9.84% over the past 24 hours and by more than 30% in the trailing 7-day period. According to crypto educator @panosmek, XRP’s growth should come as no surprise as the true value of XRP has been suppressed for so long, especially since the SEC lawsuit came on board.
The SEC lawsuit against Ripple Labs has had a significant impact on the price of XRP. The lawsuit alleges that Ripple Labs engaged in the sale of unregistered securities, referring to XRP. The lawsuit has caused a lot of uncertainty among investors, leading to a decline in the price of XRP. However, despite the suppression from the lawsuit, XRP has continued to thrive with the help of the community and the strength of the business growth of Ripple Labs in regions outside of the United States.
According to @panosmek, the hundreds of projects building on the XRPLedger are using the XRP coin for several reasons that are shoring up the demand for the asset. These projects are benefiting from the smart contract capabilities of the XRPLedger, which is driving growth in XRP. The rebuilding of the XRPLedger’s capabilities to support these projects is also contributing to the growth of XRP.
Panos is convinced that XRP is bound to see more growth as a result of subtle, yet important factors that can serve as the coin’s bullish triggers. These factors include the end of the endless misinformation about XRPL/XRP by members of the community and the gradual research of the protocol’s capabilities by individuals. He also pointed at the end to the hate that is being spread by Ryan Selkis and his company, Messari, following an analysis of the project last week. According to the educator, this current XRP run is a combination of several positive factors, and he believes the rally will not stop.
In its prime, XRP rose to an All-Time High (ATH) above $3.84. Today, its price is by more than 85% of this actual figure, indicating a significant upside for growth moving forward. With a continuation of current sentiment and the expectation of a possible victory for Ripple against the US SEC, a swift return to the ATH level might not come as a very big surprise for XRP.
The recent growth trends being experienced by XRP highlight the potential of the XRPLedger and its smart contract capabilities. Despite being less well-known than other layer-1 protocols, the XRPLedger is proving to be a powerful platform for building smart contracts. The hundreds of projects currently building on the XRPLedger are evidence of its growing adoption and its potential to become a major player in the blockchain space.
In conclusion, the growth of XRP is being powered by the smart contract capabilities of the XRPLedger, as well as the increasing adoption of the platform by new projects. Despite the ongoing SEC lawsuit, XRP has continued to thrive, and its recent growth trends indicate that there is significant upside potential for the asset. The XRPLedger’s smart contract capabilities are contributing to the growth of XRP and positioning the platform to become a major player in
