Hope

Bitcoin

Beacon

<p>RippleX, the development arm of Ripple, has just launched a new feature that promises to simplify transactions and boost the massive adoption of XRP. This major advancement aims to democratize the use of XRP and strengthen its position in the crypto market.</p>
<h2 id="h-revolutionary-feature-to-democratize-xrp">Revolutionary Feature to Democratize XRP</h2>
<p>Mayukha Vadari, a senior software engineer at <a href="https://www.cointribune.com/en/crypto-is-the-explosion-of-ripple-xrp-imminent/" target="_blank" rel="noopener noreferrer nofollow">RippleX</a>, unveiled the XLS-68d specification, designed to streamline transaction processes on the XRP Ledger (XRPL). Specifically, the key innovation lies in the introduction of sponsored transaction fees and reserves.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Thanks to this <a href="https://u.today/xrp-receives-crucial-adoption-boost-with-new-ripplex-feature" target="_blank" rel="noopener noreferrer nofollow">new feature</a>, platforms can now manage account fees and reserves for their users, greatly simplifying their experience. In addition, users can authorize this sponsorship by including sponsor signatures in their transactions, while retaining full control of their accounts.</p>
<p>This approach is in line with industry trends, offering familiar mechanisms such as “sponsored transactions” or “meta-transactions” found on other blockchains. Thus, RippleX demonstrates its commitment to democratizing access to XRP by reducing technical complexity and financial barriers for users.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://go.primexbt.com/click?pid=8658&amp;offer_id=12&amp;l=1594368336" target="_blank" rel="noopener noreferrer nofollow">Start trading Bitcoin with PRIME XBT</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-a-springboard-to-the-massive-adoption-of-xrp">A Springboard to the Massive Adoption of XRP</h2>
<p>The introduction of sponsored transaction fees and reserves is expected to have a significant impact on the XRP Ledger (XRPL) ecosystem. By allowing platforms to cover transaction costs, XRP becomes accessible to a much wider audience.</p>
<p>This advancement will facilitate integration for users and projects, potentially attracting new industries to the <a href="https://www.cointribune.com/en/crypto-sec-opposes-ripples-attempt-to-cancel-crucial-testimony/" target="_blank" rel="noopener noreferrer nofollow">XRP ecosystem</a>. Therefore, the reduction of financial obstacles and the simplification of processes could be catalysts for the widespread adoption of this cryptocurrency.</p>
<p>The revolutionary new feature introduced by RippleX marks a decisive turning point in the adoption of XRP. By democratizing access and streamlining transactions, Ripple positions its crypto as a<a href="https://www.cointribune.com/hausse-de-10-plus-de-2-000-millionnaires-la-crypto-xrp-de-ripple-renait-de-ses-cendres/" target="_blank" rel="noopener noreferrer nofollow"> user-friendly and inclusive digital asset</a>.</p>
<h2 id="a-beacon-of-hope-for-the-slumping-xrp-price">A Beacon of Hope for the Slumping XRP Price?</h2>
<p>This announcement comes in a <a href="https://www.cointribune.com/en/crypto-xrp-plunges-below-0-50-amid-heated-debate-over-ethgate/" target="_blank" rel="noopener noreferrer nofollow">challenging context for XRP</a>, whose price has recently plunged below $0.52 amid legal controversies between Ripple and the SEC. As discussed in our previous articles, the ongoing legal battle heavily weighs on the price of XRP, keeping investors in uncertainty.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:XRPUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:XRPUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/XRPUSDT/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">XRPUSDT chart</span></a> by TradingView
 </div>
</div> 
<p>However, the launch of this new feature by RippleX could bring a glimmer of hope to XRP holders. If this innovation manages to stimulate adoption and use of XRP, it could potentially offset the negative impact of the lawsuit and support the cryptocurrency’s price.</p>
<p>It remains to be seen whether this technological advance will be enough to reverse XRP’s short-term bearish trend. Nonetheless, it reflects Ripple’s determination to continue innovating and strengthening the XRP ecosystem, despite the <a href="https://www.cointribune.com/crypto-xrp-pris-au-piege-entre-la-decision-de-la-fed-et-le-proces-de-la-sec/" target="_blank" rel="noopener noreferrer nofollow">legal challenges</a> the company faces.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noopener noreferrer nofollow">Buy your first cryptocurrencies with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>

Crypto: Ripple launches a feature that will change everything

Table of Contents

Cointribune EN

Other articles published on May 3, 2024

Opinion: Gemini wants you to vote for anti-democracy politicians

Is Penguiana Set to Be the Next Big Hit on Solana? $PENGU Meme Coin Gears Up for Its Highly Antic...

Hong Kong’s Surging Virtual Asset ETF Trading Faces Challenges Despite Approval

What Are Crypto Whales Buying in May? Top 5 Altcoins to Watch

Coinbase Reports Strong First Quarter Results

Major Crypto Token Unlocks Scheduled for May

Join our free newsletter for daily crypto updates!