Ripple’s Chief Technical Officer, David Schwartz, envisions a potential shift in XRP’s price volatility, thanks to the introduction of an Automated Market Maker (AMM) as part of XRPLedger’s latest update. The AMM aims to leverage market fluctuations, particularly during XRP’s price drops, to boost buying activity. This development is poised to attract existing XRP holders and tip the scales in favor of increased buying pressure.
David Schwartz, a long-standing visionary for Ripple and XRP, has seen his vision take shape with the unveiling of this innovative AMM. It establishes a robust network of competitive public liquidity pools, heralding a pivotal moment for XRP holders as they evolve into active participants within the ecosystem.
XRPLedger’s Latest Update
Earlier this week, Ripple introduced version 1.12.0 of the XRPLedger, prompting all server operators to migrate to this latest version for subsequent voting on amendments. The update brings a host of benefits, including protocol-wide liquidity pools, prevention of front-running, and a fresh approach to liquidity provisioning.
XRP has broken free from its descending channel, signaling a bullish trend. If the token can sustain its position above this level, it stands a strong chance of converting the $0.4600 resistance into a support level. Conversely, a drop below $0.4191 could undermine the asset’s bullish outlook.
Also Read: XRPL EVM: A Golden Ticket to Drive Large-Scale Retail Adoption for XRP?
RippleX: The Unseen Force
Ripple’s development arm, RippleX, is tirelessly working behind the scenes to broaden the developer base. Their work is important in setting the stage for the rapid evolution of the XRPL ecosystem, opening doors to new opportunities like Institutional DeFi—a novel concept focusing on regulatory compliance, making it safer and more responsible for enterprises and institutions to participate in decentralized finance.
Also Read: Ripple CEO’s Positive Outlook on SEC Appeal: Key Insights Revealed
Institutional DeFi Gains Traction
Ripple’s 2023 New Value Report offers deep insights into the burgeoning demand for Institutional DeFi. Sourced from over 1,600 global financial leaders, the data suggests that institutional interest in decentralized finance is not just a trend, but a seismic shift in how finance could operate in the future.
With David Schwartz foreseeing a surge in buying interest, and XRPL demonstrating increasing adaptability, it becomes evident that XRP is on the cusp of entering a transformative phase.
Source: https://coinpedia.org/news/ripples-new-xrpl-update-will-transform-xrps-price-volatility-into-yield/