All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- There is a growing sentiment surrounding XRPL and XRP fueling current rally.
- This sentiment can trigger increased embrace as XRPL developers focus on growth innovations.
Many factors power the growth of any smart contract-enabled protocol like the XRPLedger and one of these is the growing adoption of such a platform by new projects. In the case of the XRPLedger, the core developers are rebuilding its capabilities to support the hundreds of projects building on it as well as those that will embrace the protocol shortly.
The XRPLedger is not known as a very prominent blockchain protocol in part because of the primary designation of its associated digital currency, XRP as a payment token. However, the XRPLedger powers a whole lot of smart contract functionalities that bring it to par with other layer-1 protocols around.
The positioning of the XRPLedger has contributed in part as a driving force behind the recent growth trends being printed by XRP. At the time of writing, data from Marketcap shows XRP is changing hands for $0.5473, up by 9.84% over the past 24 hours and by more than 30% in the trailing 7-day period.
According to an analysis on Twitter made by crypto educator @panosmek, it was highlighted that the upsurge in the price of XRP should come as no surprise as the true value of XRP has been suppressed for so long, especially since the SEC lawsuit came on board. According to him, the hundreds of projects building on XRPL are using the XRP coin for several reasons that are shoring up the demand for the asset.
• Lots of upcoming developments and innovations such as smart contracts, sidechains, AMM…
• People in crypto learning what XRPL/XRP is capable of and that is decentralized and super efficient, after years of endless misinformation hiding its amazing features.— Panos 🔼{X} (@panosmek) March 29, 2023
Despite the suppression from the lawsuit, XRP has continued to thrive with the help of the community and the strength of the business growth of Ripple Labs in regions outside of the United States.
XRPL and XRP Growth Triggers
By all means, Panos was convinced that XRP is bound to see more growth as a result of some subtle, yet important factors that can serve as the coin’s bullish triggers. One of these is the end of the endless misinformation about XRPL/XRP by members of the community. He noted that people are now gradually researching what the capabilities of the protocol is for themselves.
He also pointed at the end to the hate that is being spread by Ryan Selkis and his company, Messari following an analysis of the project last week. According to the educator, this current XRP run is a combination of several positive factors. He said he believes the rally will not stop.
In its prime, XRP rose to an All-Time High (ATH) above $384. Today, its price is by more than 85% of this actual figure and shows an indication that there is a significant upside for growth moving forward.
With a continuation of current sentiment and the expectation of a possible victory for Ripple against the US SEC, a swift return to the ATH level might not come as a very big surprise for XRP.
