XRP is gaining enhanced utility through Futureverse’s new staking feature.
XRP has bullish projections from many analysts one of whom says the coin can touch $10,000.

XRP, the cryptocurrency associated with Ripple Labs Inc., is set to undergo a game-changing transformation with the introduction of single-sided staking. The revelation comes from Crypto Eri, a prominent figure in the XRP community, who recently shared exciting details about the forthcoming feature on the Futureverse. 

This innovation, set to launch on The Root Network, is expected to open new avenues for XRP holders, enhancing the overall utility of the digital asset. Currently, XRP is trading at $0.6141, after inking a 0.26% increase over the past 24 hours. The coin’s market capitalization stands at $33,117,039,963, while the 24-hour trading volume is $768,870,529.

The Emergence of XRP Staking Offering

During a recent X space discussion, Aaron McDonald, the founder of Futureverse and the brains behind The Root Network, shed light on the evolution of XRP’s utility. Historically, XRP has been primarily associated with payments, showcasing its strength in facilitating seamless transactions. However, McDonald highlights the need to diversify XRP’s capabilities, moving beyond its one-dimensional utility.

The Root Network’s future single-sided XRP staking capability is expected to play a key role in boosting XRP’s usability. Through smart contracts, the platform allows XRP users to explore a broader range of use cases. 

One notable development is the launch of Moai Finance DEX on The Root Network. Moai Finance acts as a one-stop shop for multi-chain liquidity, combining XRP with USDC, ROOT, and other cryptocurrencies. 

To commemorate the launch of Moai Finance, XRP holders are invited to take part in a “Voyage to the Future,” staking their tokens to provide early liquidity to The Root Network and receive exceptional benefits.

Ripple’s ISDA Membership

Remarkably, Ripple Labs has secured membership in the prestigious International Swaps and Derivatives Association (ISDA). This achievement aligns Ripple with financial giants like JPMorgan and Goldman Sachs, placing the company in a market valued at an astonishing $1.2 quadrillion. 

Ripple’s inclusion in the ISDA highlights the increasing acceptance of digital assets in traditional financial circles, setting the stage for a new era in reshaping the financial landscape.

Moreover, dYdX, the leading Ethereum-based decentralized exchange, has added XRP perpetual contracts to its platform. Traders can now leverage XRP up to 10 times with a minimum order of 10 XRP on dydx.trade. This expansion of offerings reflects dYdX’s commitment to evolving its platform, supporting 13 cryptocurrencies with low fees and high liquidity. 

Amidst these groundbreaking developments, an intriguing price prediction by Britto has gained attention across social media platforms in what many might say is unrealistic. The prediction suggests that XRP’s price could surge to an impressive $10,000, emphasizing the cryptocurrency’s inherent design capabilities to address the diverse needs of 7.5 billion people globally.

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Filed under: Bitcoin - @ December 3, 2023 3:01 pm