- As the year ends, a prominent Ripple supporter has spotlighted some notable capabilities of the XRP Ledger (XRPL) blockchain.
- XRP’s fundamental and technical metrics are promising despite continued pushback from the bears.
The year is ending with Ripple scoring more wins despite its unstable position with regulatory bodies and community members actively documenting the network’s progress.
Recently, a well-known Ripple XRP proponent has taken to X to outline some of the most commendable developments attained by the XRP Ledger (XRPL) blockchain.
Alex Cobb explained that XRP has increased its capacity to handle large transactions swiftly; a problem that a sizable number of assets and networks still struggle with. He is convinced that this feature could help XRP gain global recognition within traditional banks. Cobb wrote;
XRP can handle 3,400 Transactions per second. That’s 204,000 per minute. 12.24 Million per hour. 293 Million per day. XRP is truly designed to be a global utility asset for banks all around the world.
XRP can handle 3,400 Transactions per second
That’s:
204,000 per minute
12.24 Million per hour
293 Million per dayXRP is truly designed to be a global utility asset for banks all around the
— Alex Cobb (@AlexCobb_) October 3, 2023
Many industry players have praised Ripple’s sustainable structure on different occasions. The network has not only built products that solve traditional problems for the global market, but collaborations with other leading firms have continued to increase.
As a result, Ripple and the XRP ledger have remained one of the most sought-after innovations by investors and world leaders in the industry. Each milestone is also considered a major win for Ripple by community members, as Ripple’s battle with U.S. regulators has notably affected the network’s development.
XRP is Well on its Way to Retest the $0.6649 Price Mark
Ripple is not only thriving as a network, but its native token XRP is also experiencing a decent price run along with other altcoins.
Market experts have observed impressive market action from Ripple whales. These big hands are noticeably increasing their XRP holdings. Over the last week, Ripple whales have purchased an estimated 360 million worth of XRP tokens, valued at roughly $223 million.
On the other hand, a market expert has highlighted XRP’s current position in the market, as technical signals remain strong. Taking to X, formerly Twitter, the analyst explained that XRP is primed for a Christmas and New Year rally if the market maintains its current pace.
As his post reads;
XRP had a break in the daily time frame. I forgot how many ups & downs we had breaking the daily. The RSI is above 50 & having the breakout indicates that XRP is heading towards, yes, bravo, $0.6649 again! It would be nice to have XMAS & a New Year Present touching $1.0507.
After hitting a daily high of $0.62, XRP bulls made a slight downward correction. It bears mentioning that the year-to-date performance is up by 82%. At press time, XRP is trading at $0.6191. The altcoin is sustaining mild weekly and hourly losses.
