Recently announced developments are set to boost the Ripple ecosystem (XRP). RippleX is the company’s development arm, and it has recently announced significant upgrades to the XRP Ledger (XRPL). Specifically, it comes in the form of a brand new transaction processing upgrade Specification XLS68d.
Ripple’s price is still unable to show any kind of movement in the last few weeks. It has not been able to start a bull run in 2024. The recent rally that occurred on Thursday will benefit from the recent announcement.
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RippleX announces new development to boost XRP adoption
Investors were excited about Ripple’s (XRP), a token, as we approached 2024. In fact, investors hoped that Ripple (XRP) would carry positive market sentiments into a huge price increase. Particularly as the company behind the cryptocurrency would be able to conclude their years-long conflict with US Securities and Exchange Commission.
XRP, however, was not able live up to this height. The asset is stable because the lawsuit did not result in a settlement. This may change, however, because a recent Ripple update could lead to XRP’s rapid adoption.
RippleX’s senior software engineer Myukha Vadari XLS-68d, a new specification has been announced. This new innovation is most notable for the sponsoring of transaction fees, and reserve funds. Implementing such a feature would have an enormous impact on token reach.
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This feature allows platforms to assume the fees for transactions and user account reserves. It will improve the user experience with XRP.
Delegating these fees would be a huge step in reducing the blockchain complexity, which often discourages new adopters. Similar features are available on other platforms, and XRPL should add this feature.
XRP, on the other hand, has seen a good performance in the past 24 hours. CoinMarketCap states that the asset increased by over 2.31% within 24 hours. The asset’s increase from $0.50 to over $0.52 represents a welcome change for an asset which has fallen more than 12 percent in the past 30 days.
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Source: watcher.guru
