Ripple CEO Brad Garlinghouse Hails XRPL Game-Changing Update

Ripple CEO Brad Garlinghouse on Wednesday reacted to a major update to the decentralized public blockchain XRP Ledger (XRPL).

The release adds new features and bug fixes, and introduces amendments, including enhancing escrow functionality, grouping and executing multiple transactions, and adding permissioned decentralized exchanges.

This upgrade marks a big step for XRPL as it competes with Ethereum and Solana on speed, efficiency, and more reliability.

XRPL v2.5.0 Release Draws Ripple CEO Brad Garlinghouse’s Attention

XRPL Ledger, in a blog post, introduced version 2.5.0 of rippled, the server software that powers the XRP Ledger protocol. XRP Ledger v2.5.0 release adds game-changing features and bug fixes, as well as amendments to current functionalities.

The roll-out attracted many developers from the wider crypto community, including XRP developers. This happened as the update has a lot of helpful fixes and improvements, making the XRPL software better, more efficient, and stable than before.

Ripple CEO Brad Garlinghouse also reacted to the major release of the XRP Ledger, which could help boost adoption from a business point of view. He said the v2.5.0 marks a “huge progress” and congratulated all the devs who contributed to this release.

Here’s What the New XRPL Update Hold

The XRPL version 2.5.0 added amendments that were in discussions for years. This includes enhancing token escrow, adding batch transactions, adding permissioned decentralized exchanges, delegating specific permissions to other accounts, and invariant checking to AMM-related transactions.

Also, amendments for fixing NFT interactions and payment channel creation.

RippleX senior developer Mayukha Vadari said this is “possibly the best single lineup of amendments we’ve ever had in one release.” She is one of the contributors to the XRPL v2.5.0 release.

The update’s primary feature is increased network input-output capacity to handle higher transaction loads.

Other features included enhanced transaction relay logic, added XRPL commons as a new bootstrap cluster, transaction handling, and updated code reviewers for RPC changes.

Bug fixes in the update address many core errors, compatibility, and other issues related to delays and configuration.

The upgrade will complete after more than 80% support from validators and nodes. Voting has started on the proposed amendments, with protocol changes to happen following two weeks of >80% support from trusted validators.

XRP Price Surge to Pick Up Momentum?

XRP price was moving sideways after recovering in the past 24 hours, with the price trading at $2.19. The 24-hour low and high were $2.17 and $2.22, respectively.

Furthermore, the trading volume has decreased by 46% in the last 24 hours, indicating a decline in interest among traders. The breakout of XRP price above $2.20 level is crucial for further rally.

In the daily timeframe, the price was below the 50-SMA, 100-SMA, and 200-SMA at the time of writing. Whereas, the Relative Strength Index (RSI) was 49, signaling potential consolidation or a sideways move to continue.

At the time of writing, the total XRP futures open interest jumped 1.52% to $3.80 billion in the last 24 hours.

XRP futures OI on CME and Binance climbed more than 0.40% and 0.30% in the last 4 hours, respectively. This signals that bullish sentiment persists among derivatives traders.