Ripple is at a potentially transformative juncture as its team gears up to add two crucial new features in the impending XRPL upgrade. This comes amid a swarm of XRP price predictions, creating a perfect blend of anticipation and speculation. David Schwartz, Ripple’s CTO, has repeatedly aired his enthusiasm about the new functionalities, making this a must-watch event in crypto.
Additionally, the firm released official details on September 7th, stating that the upgrade will introduce an Automated Market Maker (AMM) and a clawback feature. The AMM, identified as XLS-30, aims to create a native Automated Market Maker on the XRPL. It will integrate with the existing decentralized exchange (DEX) to facilitate trading in automated liquidity pools. Consequently, this could empower developers to reach a broader spectrum of DeFi stakeholders.
On the other hand, the clawback feature is designed to offer an opt-in mechanism for retracting newly issued assets through a trustline. Importantly, it won’t apply to XRP, ensuring the coin remains untouched by this feature. The clawback adds a layer of flexibility and control for asset issuers, which is likely to be welcomed in the growing DeFi space.
Recent data from XRPL Services shows that the number of XRPL accounts is on the brink of hitting 5 million, currently at 4.78 million. Moreover, these accounts hold a total XRP balance of 58.6 million, with reserves amounting to 47.8 million and owner reserves at 13.6 million. Hence, these numbers underline the growing adoption and storage of XRP.
Additionally, the buzz around XRP price predictions is escalating. Most recently, an expert put forth key levels for XRP, aiming for an ambitious $7 price target. However, another prediction suggested a staggering $500, which might seem far-fetched even for the most ardent supporters.
In summary, Ripple’s upcoming XRPL upgrade and the addition of groundbreaking features could mark a significant milestone for the platform and its token. Combined with the growing number of accounts and a flurry of price predictions, the crypto community is set to witness an interesting phase for Ripple and XRP in the days ahead.
Source: https://bitcoinworld.co.in/ripples-xrpl-upgrade-poised-to-unlock-new-features-amid-price-prediction-frenzy/