• In the latest announcement, Stellar Lumen has launched the Stellar Asset Sandbox to make it easier for users to issue, mint, and burn new assets using the Stellar testet network.

This week was a dramatic one for the crypto industry as the major assets moved to and fro on the price curve and also announced some incredible development across the crypto sphere. This features some heavyweights including Ripple, VeChain, IOTA, Dogecoin, and Stellar Lumen which saw marginal falls in the market in the last 24 hours despite making huge news in the mainstream media. 

Ripple (XRP) price to go 10x after win over SEC, floats a $250M creators fund

Ripple Labs’ win over the US Securities and Exchange Commission (SEC) in the ongoing lawsuit could trigger a 10 times price surge facilitated by its use of tokenization. It is important to note that the XRP Lenger (XRPL) is the first blockchain to assist tokenization for several assets within the category of NFTs, Stablecoins, and cryptos. Considering that the value of tokenization is expected to hit $1 trillion by 2024, XRP could be a huge beneficiary. 

Ripple has also launched a whooping $250 million creator’s fund in a bid to get NFT artists to draft their collections to the XRP ledger. The company has long sought to explore ways to facilitate the growth of the Ripple ecosystem, and this could be possible by bringing talented developers and creators on board. It is reported that the beneficiaries will be defined by those with NFT utility and community engagements while having little to do with location. Application for the third wave is closed with the fourth expected to be opened soon. Beneficiaries of the second wave of the fund were announced in October last year.

Read more…

Dell partners with IOTA to bring sustainable energy uses to the digital cities

IOTA Foundation has in partnership with Dell Technologies sought to bring sustainable energy use cases to digital cities in a bid to transform Urban Mobility using Intelligent Security systems (ISS). According to the report, the solution would make use of the combined approach featuring video recordings, analytics, and control center modules that run on a dedicated computer environment. One merit of this partnership is the cost-effective path for proper traffic management while taking note of the citizens’ safety. 

Read more…

Doge community awaits Elon Musk to push Dogecoin again as Twitter launches new ad share model

The Dogecoin community has maintained its excitement since Elon Musk took over Twitter in a pretty interesting fashion. Financial Times reported that Elon Musk wants fiat currencies to be used as Twitter’s primary payment method.

However, he wants engineers to make it flexible for crypto payments to be added in the future. Dogecoin investors have been more excited as Twitter rolls out a new ad share model. Elon Musk Tweeted that part of the revenue generated from advertising on the platform would be handed over to creditors. Many crypto enthusiasts are certain that this could accelerate the implementation of digital assets on Twitter. It is expected that once payments begin to be processed, fiat and cryptos could be added to the platform. 

Read more…

Stellar Lumens introduces a groundbreaking tool to issue, mint, and burn new assets on the XLM blockchain

In the latest announcement, Stellar Lumen has launched the Stellar Asset Sandbox to make it easier for users to issue, mint, and burn new assets using the Stellar testnet network. This does not need any coding knowledge. In addition, it also makes asset issuance easy for businesses and individuals. This development means users can create, issue, and manage the digital representation of fiat on the network. Using Steller’s custom and compliance tools, users can tokenize assets such as CBDCs, stablecoins, and securities. 

Read more…

VeChain announces new major partners that will take digital ecosystems to the next level

Source: Diego Ioppolo – Shutterstock

At the beginning of this month, VeChain launched a sustainability and Web3-focused IRL event called HiVe, which is expected to take place in March 2023. This would take over the VeChain summit which last occurred in 2019. Part of the idea is to foster collaboration across the Web3 community. VeChain has also partnered with the United Nations to realize the 17 sustainable development goals (SDGs) established by the UN.

Read more…

Der Beitrag CNF Brief: 6 of the biggest headlines in past week – Ripple, VeChain, IOTA, Dogecoin and Stellar Lumen  erschien zuerst auf Crypto News Flash.

Riding on the goal to bring blockchain innovations into the mainstream digital economy, the duo of Ripple Labs and VeChain are amongst the top pioneers driving the shift to this new world. Since the advent of Non-Fungible Tokens (NFTs), the creator economy has shifted remarkably over the past few years.



From what started as digital artwork registered on the blockchain through CryptoPunks, the digital collectible world has extended to music and other creative areas. With the industry now in the spotlight, here is a short insight into how Ripple and VeChain are championing the growth of the emerging multi-billion dollar industry.

Ripple floats a $250M creator Fund

Ripple Labs Inc is a blockchain payments firm whose footprint in the digital currency ecosystem is now growing at a very fast pace. Away from its core business, Ripple also maintains the XRPLedger, a smart contract platform designed for creators.

As its own commitment to helping develop the NFT ecosystem, Ripple has launched a $250 million creator’s fund to enable every artist to bring their collections to the XRP Ledger. While the XRPL has a high transaction throughput, it is also known to be extremely cheap, and its transactions are notably fast. These features come off as the core selling points Ripple has for creators to consider embracing the protocol.

At this time, Ripple wants developers and creators whose projects can contribute to the growth of the Ripple ecosystem in the near future. While the potential beneficiaries of the fund will be drafted irrespective of location, the preferred projects will be those with a defined NFT utility and community engagement.

While the initiative is in partnership with top projects including onXRP, MINTNFT, and CrossTower amongst others, the firm announced the beneficiaries of its second wave of the fund back in October last year. With applications for the 3rd Wave now closed, Ripple said it will make the announcement when the applications for the 4th Wave are opened.

VeChain and the World of V Partnership

While VeChain remains one of the most innovative blockchain protocols, its recent partnership with the World of V platform is bound to showcase its unique potential in the near term. The partnership involves a pivot into a whole new class of products dubbed Phygitals.

World of V is thrilled to introduce Phygitals-as-a-service: bridging the gap between physical and digital experiences through the combination of #NFTs and #IoT powered by @vechainofficial tech.#WorldofV #VNFT $VET #WoV #VeChainhasNFTs #NFThttps://t.co/Gp439UNf3A

— World Of V | NFT Marketplace (@worldofv_art) February 3, 2023

Phygitals are digital goods that have their counterparts in the physical world. The products form the next frontier for NFTs as users want a more definitive use case for the choice of digital collectibles. As detailed in its announcement, the World of V platform has launched its Phygitals-as-a-Service product and it has designed the product to be embraced by everyone.



The platform has created a model in which the physical items can be authenticated for originality while the digital version’s Proof of Ownership can easily be verified by all. With the Phygital products branded as a combination of the potentials of the Internet of Things (IoT) and NFTs, a whole new experience is bound to be unleashed for users in the Web3.0 ecosystem.

Der Beitrag Ripple and VeChain to conquer this futuristic billion-$-market with superior tech and real life usecases erschien zuerst auf Crypto News Flash.

Ripple’s use of tokenization will be of major benefit to its network and native token. Tokenization will be in demand for its ability to track asset ownership using Blockchain technology.

$1 trillion is the value tokenization it is expected to hit in 2024. That value is expected to surge to $10 trillion by 2028.

Tokenization still has some barriers to demolish. Adoption is slow, but demand across big financial top-dogs is increasing.



Ripple’s XRP Lenger (XRPL) was the first blockchain to aid tokenization for a large number of assets. These assets include stablecoins, NFT tokens, and other cryptocurrencies like Bitcoin and Ethereum. The USD, Euros, gold, and even stocks can be tokenized, thanks to XRPL.

Although it is happening at a slower pace, XRPL is noting some big achievements on the Blockchain network. In a report recently published by Ripple, it was noted that on-chain activity on the XRPL platform was buoyant.

Tokenizing any asset on the #XRPL is easy as pie!🥧 All you need is a few lines of code, or a web interface that walks you through the process step-by-step.

Check out this video to review the basics. https://t.co/PJoKqp4YCG pic.twitter.com/Hhjb5zLE4j

— RippleX (@RippleXDev) February 2, 2023

The amount of transactions on the platform have skyrocketed this year. The ledger now records over a whopping 3 million to 106 million transactions.

NFT transactions are also experiencing the same levels of growth. In the last quarter, new wallet uses totalling 228,000 were ushered into the ledger.

Ripple also reported that Ripple has so far made a $8.4 billion purchase since the SEC lawsuit began.

XRPL surely holds the keys to a massive price hike for XRP, should it succeed in the Crypto market.

SEC vs Ripple; case so far

Meanwhile, the ongoing SEC vs Ripple case is entering a crucial period. The verdict of the case is expected to influence the price and performance of XRP, either in a positive or a negative manner.

The motions for summary judgment have already been briefed last year. All that is left for the case’s conclusion is a judge’s ruling, which the public awaits.



There’s no specific date for when the case will eventually come to a close. But the CEO of Ripple, Brad Garlinghouse, insists that there will be an update within the first three months of 2023.

On the other hand, attention can be given to XRP’s price movement. XRP does not seem to be holding up too well at press time. XRP spiked by 1.14% in the last 24 hrs. But XRP’s losses outweigh the gains at the moment. XRPA’s price is now $0.415.

Der Beitrag Ripple XRP price to go 10x after win over SEC and this future tech billion-$-market of tokenization – Report erschien zuerst auf Crypto News Flash.

Ripple, the developers of the XRP Ledger (XRP) blockchain, continues to explore the possibilities that Central Bank Digital Currency (CBDC) can unlock for countries. As part of its University Blockchain Research Initiative (UBRI), Ripple has recently highlighted the challenges and strides that countries are making in CBDC adoption.



Darrell Duffie, an active UBRI participant, noted in a Ripple blog post that CBDCs are rapidly becoming a global phenomenon. The Stanford Graduate School of Business professor highlighted that more than 100 countries that represent 95% of the world’s GDP are working on a CBDC.

Duffie also pointed out that among large economies, the U.S. is currently the least advanced in developing a CBDC. This is due in part to the lack of government regulations and opposing positions held by factions of the government.

In contrast, China leads the pack in pushing forward with CBDC adoption. China has promoted its CBDC despite having top-notch digital and mobile payment solutions like Alipay and WeChat Pay. While the rest of the world — from Nigeria and the Bahamas that have launched CBDCs to those conducting pilots like India— is somewhere in-between.

The Adams Distinguished Professor of Management also notes that the major problem facing all countries is getting citizens to adopt CBDCs. Duffie shares that even China’s e-CNY has struggled to gain traction due to privacy concerns of its citizens.

Ripple and XRPL can remedy challenges faced by countries in deploying CBDCs

Despite the challenges facing CBDC adoption, Duffie still expects that countries will continue to build out their CBDCs. And that digital currencies will gain more adoption as their use cases are proven. According to him, the usefulness of CBDCs for domestic economic purposes and cross-border transactions will grow as adoption also increases.

“Irrespective of the U.S., the pace of CBDC development around the world will accelerate over the coming years, with more and more countries moving into active pilots or tests,” Duffie said.

However, to get to this stage, governments must realize that will require a lot of work. They would need to educate as well as incentivize citizens on the benefits of CBDCs, Duffie asserts. Public blockchain ecosystems like Ripple with CBDC capabilities also have a role to play in citizens education.



Similarly, governments and all stakeholders need to actively work to boost payment systems competition and innovation. These could include government standardizing apps through which banks offer CBDC payments or capping interchange fees.

Notably, Ripple already offers a broad suite of solutions that central banks can use to deploy their CBDC efficiently. The fintech company already has the government of Bhutan on its roster of clients and expects more to follow.

Der Beitrag Can Ripple (XRP) serve CBDCs for billions of people worldwide? Experts take and future outlook erschien zuerst auf Crypto News Flash.

A recent update from an XRPL Labs lead developer, Wietse Wind, discloses the development of a Hooks sidechain with XRP as the native token.

Wietse Wind, in response to a user request, made it known that XRPL Labs have signed a security contract last week. According to Wind, developers will push out the sidechain after the audit, adding any modifications made in response to the audit.

We're actually going to do this. Security audit contract signed last week.

After the audit (and potential improvements based on the results) there will be a side chain.

With XRP as the native asset. https://t.co/l6pPGyIz8l

— WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) January 30, 2023

Wind further expressed confidence in Hooks. Claiming that the sidechain will be ready for practical use cases before it goes live on the mainnet. Accordingly, he expressed hopes that the sidechain will pass its stress test, bolstering confidence for mainnet implementation.

For better understanding, Hooks is a proposal to add smart contract functionality to the XRP Ledger. The XRP ledger is known and appreciated for its transaction throughput, speed, and low fees — but lacks flexibility.

This realization was expressed in a team statement that: “We realized that, while the XRP ledger already has a lot to offer, developers and businesses need a lot of flexibility. Allowing them to not only build what is possible today, but to build what they can imagine tomorrow.” Hence, Hooks.

Hooks or Transaction Hooks are small, efficient pieces of code. They are defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions. These hooks can be really simple, like: “reject payments < 10 XRP”, or “for all outgoing payments, send 10% to my savings account” or more advanced.

Wind states that Hooks has been in development for more than two years. However, validators cannot vote on it at this time — indicating that mainnet deployment is still a ways off.

According to information published in July of last year, developers introduced Hooks Builder, a web browser-based development environment that enables users to create XRPL smart contracts and deploy them on the Hooks testnet.

Developers are also developing a sidechain for the XRP Ledger that is compatible with the Ethereum Virtual Machine (EVM) concurrently. Significantly, testing is already in progress. It will provide XRP Ledger access to Ethereum smart contracts.

Will Hook drive the XRP price up?

Hook introduces a high-level simplicity to the XRP Ledger. Businesses and developers have a wide range of flexibility with the integration of smart contract functionalities.

With Hook, businesses and developers can allow auto-saving on incoming transactions, use “Lite Accounts” without account reserves, track loyalty points for customers, automatically park VAT, etc.

The added functionality will drive more integrations by an existing business on XRPL and adoption by intending developers. It will also increase the utility of XRP.

Since the market value for cryptocurrency projects is driven by utility, the potential increased utility Hooks adds to XRP could drive its price up.

Der Beitrag Ripple: XRPL Hooks ready as sidechain with XRP to be native currency for real-life applications – Can it drive price back up? erschien zuerst auf Crypto News Flash.

John Deaton, a crypto lawyer, and advocate has come out to say that the blockchain payments firm, Ripple Labs Inc will win its ongoing lawsuit with the United States Securities and Exchange Commission (SEC) with zero doubt. Deaton, who doubles as the founder of CryptoLaw Media outlet revealed this on Twitter in response to a tweet from a user @AP_Abacus who said the separate lawsuit between the US SEC and Grayscale Investments will likely end in the latter’s favor at the DC Circuit Court.

Deaton concurred with this assessment, confirming that the chances of the Digital Currency Group (DCG) subsidiary winning at the DC Circuit court is pegged at 50:50. Recall that Grayscale sued the SEC back in June when the regulator rejected its application to convert its flagship Grayscale Bitcoin Trust (GBTC) product into a full-fledged spot Bitcoin Exchange Traded Fund (ETF).

Grayscale’s argument consists in the fact that the regulator’s refusal is unwarranted considering it has approved a series of Bitcoin Futures ETFs in the previous year. The SEC’s argument remains the same and it borders on the fact that Grayscale does not have the capabilities to prevent an industry-wide price manipulation that is renowned with cryptocurrencies.

According to @AP_Abacus, Grayscale presented a good argument before the DC Circuit court, and should it win there, chances are the case will be dragged along to the United States Supreme Court.

In Deaton’s opinion, with the current makeup of the Supreme Court which does not tolerate excesses from Government agencies, Grayscale will have a 75-80% chance of winning at the apex court. The ruling, just like that of the SEC vs Ripple is considered one of the most defining cases for the crypto industry and the outcome can shape the future of the industry for decades to come with the precedent that will be set.

A win is more than possible. I put the odds of a @Grayscale win before the DC Circuit at 50/50 and a win before the Supreme Court at 75-80%. Under the law, the @SECGov’s denial of a spot #BTC ETF while allowing both a futures ETF and short ETF is arbitrary and capricious. https://t.co/22iKnNdhsB

— John E Deaton (@JohnEDeaton1) January 26, 2023

Ripple Chances of Winning SEC

Deaton has been a very vocal advocate of Ripple and he does not often fail to showcase how the $1.3 billion lawsuit brought against the company by the SEC is an overreach of its powers. Deaton believes the chances of the blockchain payments company winning the regulator if the case gets to the Supreme Court are very high, considering how the court ruled in West Virginia vs EPA case.

And after the Supreme Court’s decision in West Virginia vs EPA, I have zero doubt that the current makeup of the U.S. Supreme Court will rule in favor of @Ripple if it goes that far. The SEC did not limit its allegations to only apply to Ripple’s sales of #XRP. It went too far,

Several other lawyers and observers share a similar sentiment with John Deaton and in the Amicus Briefs filed. Ripple has as many as 3,000 statements from the company’s partners who attested to the fact that their utilization of the XRP coin was as a utility without the expectations of earning a return from it as a security. Something that the SEC is accusing the company of selling cryptocurrency as a security.

With XRP changing hands at $0.4106 at the time of writing after inking a 1.3% growth, expectations remain high that the digital currency will soar above $1 when the case is concluded.

Der Beitrag Ripple will win SEC case ‘without doubt’ says lawyer – Can it drive XRP price to $1? erschien zuerst auf Crypto News Flash.

Our data shows that investors have taken a step back with a majority of cryptocurrencies’ prices stagnating. Bitcoin which is the trendsetter has failed to break the $23,000 resistance level triggering speculation that it will retract and test recent supports. Despite prices stalling, network development and technological developments are still ongoing painting a bullish picture for a number of projects.

In this week’s CNF brief, we take a look at some of the most intriguing developments.

Massive cash for Bitcoin price uptrends comes from US institutions

A report early this week revealed that institutional investors play a key role in Bitcoin price uptrends. Although a majority of mainstream institutions are wary of cryptocurrencies, firms like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are notably heavily invested in cryptocurrency. Matrixport’s head of research and strategy, Markus Thielen confirmed that the bulk of the buying momentum that is pushing the price of Bitcoin upward is being fueled by the hoard of institutional investors pumping cash into the industry.

As these investors increase, it’s expected that prices will continue to rise. Additionally, regulators will be under massive pressure to introduce clear regulations that could further increase adoption. It’s further intriguing as recent data shows the Bitcoin Network processed more transaction value than Visa and Mastercard last year and is expected to surpass this in 2023…Read More

XRP price ‘in the thousands’ after Ripple vs. SEC case is settled

Speculation continues to grow around the XRP price. Earlier this month, Ripple CEO Brad Garlinghouse revealed that he expects the Ripple vs. SEC case will be settled in the first half of the year. With Ripple pegged to win, investors and analysts expect prices to rally. This especially after the advances in the XRPLedger from the last two years and the growth of the ecosystem will add to XRP price growth. Furthermore, some of the leading crypto exchanges that previously delisted XRP on their platform will rush to relist the digital asset.

Source: Travis Wolfe

However, Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future… Read More

At the time of press, XRP is exchanging for $0.4109. The digital asset has been trading sideways for the last 7 days. With a record of $3.84 as the all-time high reached 5 years ago, the token is still a long way from its ATH.

Developers confirm billions of SHIB will be burned with Shibarium

Amid the tanking SHIB burn rate, lead developer Shytoshi Kusama assures an uptick in burn rate with the Shibarium release. The eagerly awaited  Layer-2 scalability network is set to launch soon and will offer a major boost to the SHIB token. Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be burnt with the release of the Layer 2 platform Shibarium.

As per the MVRV-Z score indicator, the SHIB price is largely undervalued even now and holds the potential to rally another 75 percent two months from now…Read More

Samsung taps VeChain for intelligent ship data application

VeChain has continued to garner traction and receive major recognition. In the latest development, Samsung has tapped the leading blockchain for the deployment of its intelligent ship data application. With support from the World-leading certification authority DNV, Samsung Heavy Industries, the first Korean shipbuilding firm to take this step, has successfully deployed its “Intelligent Ship Network Security Application ” on the Vechain network.

In order to reduce the chances of information alteration when data is shared with ships and other off-shore tools on the recovering end, VeChain serves as a security solution for shipping companies, shipyards, and other bodies involved…Read More

ShimmerEVM finally launching as $MIOTA remains top 10 crypto for most active developer ecosystems

IOTA and its staging network Shimmer also made headlines during the week for various developments. For starters, ShimmerNet’s lead contributor noted that while close, they are not rushing to launch the ShimmerEVM citing the risks of the network going down.  Since the launch of the Shimmer network last year, the team has been working on the launch of the ShimmerEVM chain which is compatible with the Ethereum Virtual Machine (EVM).

The team at ShimmerEVM had been testing several UX improvements which include incorporating convenience functions such as using Shimmer to pay gas directly for L1-L2 transfers.This revelation follows a report that showed that IOTA is among the top 10 most active developer ecosystems. With Shimmer, IOTA could climb even higher as more developers join the ecosystem…Read More

Der Beitrag CNF Brief: 5 of biggest stories this week- Ripple, Shiba Inu, VeChain, IOTA and Bitcoin erschien zuerst auf Crypto News Flash.

Recent reports show that Ripple partner DeeMoney has entered a partnership with Visa. The FinTech giant out of Thailand and a 3-year-old partner with Ripple, has partnered with Visa to fully integrate Visa Direct into its global payment platform.

Per this partnership, users will be able to carry out lighting speed cross-border payments globally. Visa as a global payment solution is present in over 170 countries and enables over 160 currencies. This becomes readily available to DeeMoney users in Thailand and will only need the Visa details of the recipient to send money.

The time-saving attribute of this partnership makes it very appealing. Visa claims that 30 minutes is more than enough for recipients to receive funds after the transaction. Unlike the days involved with traditional cross-border payment solutions.

The chief executive officer of DeeMoney, Aswin Phlaphongphanich, explains the value that Visa offers. He mentioned that Visa’s speed and security make it ideal for real-time payments.

This partnership allows our customers to send funds directly to their friends’ or family’s debit card accounts in real-time to more than 170 countries in over 160 transaction currencies. It also enables real-time payments 24/7, including weekends and holidays, which are not feasible with traditional bank

DeeMoney’s partnership with Visa rides on the back of its earlier partnership with Ripple. The partnership was intended to provide instant settlement for their customers on affordable cross-border payments in Thailand.

International Bank of Australia get RADI License

Novatti’s dedicated banking arm, IBOA, can now fully operate in Australia. The Australian Prudential Regulation Authority (APRA) has granted the International Bank of Australia (IBOA), a Restricted Authorized Deposit-taking Institution (RADI) license until Nov. 2nd, 2024.

This license allows IBOA to offer banking services to the Australian population. It also gives Novatti access to spread its payment solution for cross-border payments in and out of Australia.

#Ripple partner Novatti (ODL) has built a bank, International Bank of Australia and obstained as Restricted Banking License. “The bank will be able to leverage Novatti’s existing payments ecosystem and global operating base…"https://t.co/ufjV09tk1G

— WrathofKahneman (@WKahneman) January 24, 2023

Peter Cook, the current managing Director of Novatti in a statement said,

Being granted a restricted banking license is a very significant milestone in the delivery of Novatti’s long term strategy, and is the culmination of several years of investment and development.

As seen in recent tweets from Australians living outside Australia, this licensing approval brings excitement as it eases their cross-border transactions.

In another statement, the acting CEO of IBOA, Guy Carvalho, highlighted that one of IBOA’s major focuses. Citing fintech partnerships as the topmost priority.

The newly licensed bank is well aware that traditional banks have not been able to match the disruptive tempo of fintech solutions. This is especially true for banks with alternative solutions for local and international payments. Hence, its pre-planned partnership with Novatti to leverage technology to stay ahead.

Der Beitrag Ripple partner joins forces with Visa to conquer billion-$-markets of Thailand and Australia – Report erschien zuerst auf Crypto News Flash.

With the likelihood of the ongoing legal brawl between blockchain payments firm Ripple Labs Inc and the United States Securities and Exchange Commission (SEC) coming to an end in a short time, there has been a lot of speculation on what the future holds for the price of XRP. 

There has been quite a number of speculations as to what the outcome of the case will be. There are observers who believe Ripple would have settled the case out of court but the regulator is unwilling to declare that XRP is not a security. The Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future.

The recent victory of the SEC over LBRY, a protocol that says it is doing to publishing what Bitcoin does to money, has given the regulator a bigger impetus to believe it can tap a good victory over Ripple.

Ripple remains convinced that it will beat the SEC with over 3,000 Amicus Briefs showing the usage of XRP is limited to payment utility.

Future of XRP price

XRP coin is currently changing hands at $0.4219, up by 8.89 percent over the trailing 7-day period. The ongoing lawsuit has greatly impacted the price of digital currency which plunged to its lowest price point of $0.2906 in the past 52 weeks. 

One of the first bearish pulldowns for XRP was the fact that top trading platforms including Coinbase delisted the digital currency for trading on their brokerage, further contributing to the Fear, Uncertainty, and Doubts (FUD) that engulfed the asset in the first few months of the lawsuit.

With the current realities and the potential of Ripple beating the SEC, many are optimistic the price of the asset can soar into the thousands in the next few years. While there are more conservative price predictions ranging from $5 to $10, the community is riled up that the end to the lawsuit will stir more exchange relisting, and XRP can finally take its rightful position amongst the high-priced cryptocurrencies.

The potential for the XRP price to grow will not only be fueled by the fundamentals bothering on the end of the ongoing legal brawl, but also by the technical impact of the embrace of the XRPLedger.

Checks feature on XRPLedger

Ripple is branded as a payment systems platform that is serving users around the world to foster cross-border financial settlement. In fulfilling its core plans, Ripple is integrating new features on the XRPLedger, the platform where its payment transactions are being facilitated.

One core feature that just went live on the XRPLedger is the revamped Checks Feature, an amendment that went live without the approval of the Ripple firm. The Checks feature is not entirely new but this new feature enables the sender to issue a check for a specified amount, while the recipient can redeem the check to receive the specified amount.

Der Beitrag XRP price ‘in the thousands’ after Ripple vs. SEC case is settled – “Checks-Feature” goes live in decentralized ecosystem erschien zuerst auf Crypto News Flash.

Ripple CEO Brad Garlinghouse has made a remarkable revelation about XRP’s growth. In a recent interview with CNBC, Brad Garlinghouse disclosed that XRP is now processing over half of the network’s transactions.

The growth is reflective of XRP’s development and adoption over the years, mainly because transactions processed on XRP in previous times were significantly lesser in number.

Over half the transaction volume now runs through XRP.#xrp #ripple pic.twitter.com/QtWC3GSYPt

— Nathan Price (@Nate855) January 18, 2023

We’re now processing billions of dollars of transactions every quarter, and we’ll over half of the total transaction volume, because we do have a fiat and XRP enabled products goal on-demand liquidity, over half of all our transactions go through XRP now. That has grown.

Garlinghouse also added that Ripple has also seen an upsurge in the number of contracts and customers using its network. The growth, as he explains, can be tied to the launching of more quarters and more currency fares, which has enabled Ripple to build visibility and trust in the market.

Addressing the effects of the SEC lawsuit filed against Ripple in late 2020, the CEO also told CNBC that he was uncertain how new and existing customers would react to the lawsuit.

After the SEC deemed Ripple a security, Ripple’s U.S. customer base has expressed confusion about Ripple and its future.

However, it appears that interest in Ripple from non-U.S. investors has increased greatly since the filing of the lawsuit. The CEO explains that in the last two years, 95 percent of customers that have been signed to Ripple are from outside the United States.

The demand from Ripple in foreign countries has led the CEO to consider relocating to London. In 2020, Brad Garlinghouse disclosed that depending on the outcome of the ongoing lawsuit, Ripple might move activities to the United Kingdom, as it presents a better climate for both the Ripple network and XRP.

Can XRP’s transaction growth influence send prices to $1?

At this time, there is no data indicating that the growth in increased transactions is in any way affecting XRP’s price.

It is important to keep in mind that supply might presently be outstripping demand, which might result in restriction of price action. Additionally, as supply reduces and demand for XRP rises, prices are primed to take off, and XRP is still poised to benefit, as a utility for Ripple could stimulate prices.

Meanwhile, Brad Garlinghouse is expressing optimism for cryptocurrency after the World Economic Forum commenced in Davos. He points to a healthy change in how cryptocurrencies showed up to the summit this year, as more focus is now being placed on utility.

My take on Davos 2023 – I honestly think it’s healthy seeing the change in how crypto showed up this year. Folks are focusing on utility and how these technologies solve real problems — the only way the industry will move forward. Great to catch up @ArjunKharpal, @CNBCJou! https://t.co/sns4PX5q3O

— Brad Garlinghouse (@bgarlinghouse) January 18, 2023

The Ripple boss who also made an appearance at Davos, spoke on Ripple’s ongoing lawsuit with the SEC, expressing certainty that the lawsuit will be resolved in the first half of 2023.

Der Beitrag Over 50% of Ripple’s total billion-$-transaction volume runs now on XRP – Can it drive the price to $1? erschien zuerst auf Crypto News Flash.