Stablecoin

Long

Future

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-optimistically-awaits-future-developments-for-xrpl/" data-wpel-link="internal">Ripple Optimistically Awaits Future Developments for XRPL</a><br></p>
<p class="p1" style="text-align: justify">Ripple-supported <strong><a href="https://en.coin-turk.com/investors-maintain-positive-positions-despite-ripples-legal-battle/" data-wpel-link="internal">XRP</a> Ledger</strong> saw a significant drop in transaction volume in the second quarter of 2024, according to the latest XRP Report. This decline is part of a broader trend affecting major blockchain protocols, with the XRPL ecosystem experiencing a similar downturn. In the second quarter of 2024, XRPL recorded 86.39 million transactions, a 65.6% decrease from the previous quarter. Despite this decline, the average transaction fees on the network increased by 168% to 0.00394 XRP.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-xrp-front">What’s Happening on the XRP Front?</h2> 
<p class="p1" style="text-align: justify"><strong>XRP’s</strong> transaction volume dropped by 20% in the second quarter alongside Bitcoin and Ethereum. However, spot trading volumes for XRP remained high for most of the quarter. Binance continued to dominate trading volume, with other exchanges like Bybit and Upbit contributing variously. XRP’s trading against fiat currencies fell to 10%, with most transactions occurring against stablecoin projects. Ripple views this shift positively, especially with the upcoming launch of the USD Stablecoin later this year.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-376852 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ripple.webp" alt="" width="661" height="640"></p> 
<p class="p1" style="text-align: justify">Meanwhile, Ripple remains optimistic about XRPL’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. The company expects increased network activity due to upcoming updates. Important developments include the integration of Archax, a regulated exchange and custodian, and OpenEden, which could bring significant tokenized real-world assets to XRPL.</p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
<p class="p1" style="text-align: justify">Ripple also highlighted several <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">innovations</a> on the horizon. These include the XRPL Ethereum Virtual Machine <strong>(EVM)</strong> sidechain, Axelar interoperability, and a new Oracle and Multi-Purpose Token (MPT) standard. These developments are expected to drive XRPL’s growth in the coming quarters. Ripple President Monica Long shared the following statements:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Progress on the XRPL EVM sidechain and interoperability with Axelar, along with the anticipated influx of tokenized real-world assets from Archax, prepares us for the future Oracle and Multi-Purpose Token (MPT) standard. I’m excited about the third and fourth quarters.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">On a separate note, Ripple is awaiting a court decision regarding its long-standing case with the U.S. Securities and Exchange Commission <strong>(SEC)</strong>. The company stated that the court would decide on resolutions related to institutional XRP sales and remains hopeful for a fair judicial outcome.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripple-optimistically-awaits-future-developments-for-xrpl/" data-wpel-link="internal">Ripple Optimistically Awaits Future Developments for XRPL</a></h5>
<p>The post <a href="https://en.coin-turk.com/ripple-optimistically-awaits-future-developments-for-xrpl/" data-wpel-link="internal">Ripple Optimistically Awaits Future Developments for XRPL</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Ripple Optimistically Awaits Future Developments for XRPL

Table of Contents

COINTURK NEWS

Other articles published on Aug 4, 2024

Trump Loves Bitcoin (TRUMPBTC) Memecoin Will Rally 15,000% Before Exchange Listings, While Shiba ...

Can Improved Sentiments Trigger A Breakout In The FTX Token Price

Top͏ Mem͏e Coins͏ To Buy Right Now, Saturday, Augus͏t 03 – Pepe Unchained, ͏C͏arl, ͏Mo͏nacoin͏, ͏Paw

Crypto Weekly Recap: Bitcoin for National Debt; Genesis $4B Restructuring; Tokenized T-Bills on X...

Ripple Launches RLUSD Stablecoin Page to Prepare Stablecoin Debut

Rollblock (RBLK) and Kaspa (KAS) Both Hit New Highs As Ethereum Still Yet To Get Going After ETH ...

Join our free newsletter for daily crypto updates!