Ripple’s New XRPL Update will transform XRP’s Price Volatility into Yield
The post Ripple’s New XRPL Update will transform XRP’s Price Volatility into Yield appeared first on Coinpedia Fintech News
David Schwartz, Ripple’s Chief Technical Officer indicated that an incoming Automated Market Maker (AMM) could transform XRP’s notorious price volatility into yield. The AMM, part of XRPLedger’s new update, is designed to harvest volatility and stimulate buying pressure, especially when the altcoin’s price is dropping. This move is expected to attract primarily from existing XRP holders, tipping the scales towards a net increase in buying pressure.
Schwartz has been a visionary for Ripple and XRP for over a decade. His dream is taking form with the introduction of this novel AMM, serving as a robust network of competitive public liquidity pools. It represents a game-changing moment for XRP holders, transforming them into active participants within the ecosystem.
XRPL Version 1.12.0 and Market Dynamics
Earlier this week, Ripple rolled out version 1.12.0 of the XRPLedger. The updated ledger has been introduced to the network, with all server operators expected to transition to this latest version to vote on subsequent amendments. It offers a multitude of benefits like protocol-wide liquidity pools, no front-running, and a novel approach to liquidity provisioning.
XRP Ledger (rippled server) version 1.12.0 has been released.
If you operate an #XRPL server, upgrade to version 1.12.0 to ensure service continuity and the ability to vote for new amendments such as XLS-30.https://t.co/1J7QYXuPUT
— RippleX (@RippleXDev) September 13, 2023
XRP managed to break above a descending channel. This is a bullish sign. If the token can maintain its position above this level, it stands a good chance of flipping the $0.4600 resistance into a support level. On the flip side, if the price breaks below $0.4191, it could invalidate the bullish outlook for the asset.
RippleX: The Unseen Force
Ripple’s development arm, RippleX, is tirelessly working behind the scenes to broaden the developer base. Their work is important in setting the stage for the rapid evolution of the XRPL ecosystem, opening doors to new opportunities like Institutional DeFi—a novel concept focusing on regulatory compliance, making it safer and more responsible for enterprises and institutions to participate in decentralized finance.
Ripple’s 2023 New Value Report offers deep insights into the burgeoning demand for Institutional DeFi. Sourced from over 1,600 global financial leaders, the data suggests that institutional interest in decentralized finance is not just a trend, but a seismic shift in how finance could operate in the future.
As Schwartz anticipates a robust buying interest in the coin, and with XRPL becoming increasingly adaptive, it’s clear that XRP is on the edge of entering a transformative phase.
Filed under: Bitcoin - @ September 14, 2023 10:16 am