The sixth-largest cryptocurrency, Ripple-affiliated XRP, has shown a surge of about 6% on March 29 as the cryptocurrency market is surging. XRP Price outperformed Bitcoin and Ethereum, rising to $0.58, its highest level in ten months.
Panos Mekras, the founder and CEO of DigitalGen Financial Services, tweeted that he has never been more positive about XRP and XRPL and urged traders to hold onto that asset.
He listed a number of factors for that, including a slew of new projects being created on XRPL, a tonne of new features, and also new use cases.
According to Mekras, the various projects that have been launched on the XRP Ledger (XRPL) are another factor influencing XRP’s sharp rise. The development team is dedicated to developing new utilities that would accelerate the adoption of XRP despite the many use cases connected with the XRPL.
Former Ripple director of developer relations Matt Hamilton hinted that smart contracts would soon be accessible on the XRPL network in a tweet last year. Also, new improvements including sidechains and an automated market maker (AM) will be released by XRPL.
A contributing element might also be the media coverage of the litigation between Ripple and the SEC as it approaches its conclusion. Many of the cryptocurrency community predict that Ripple will win on summary judgment.
Source: https://coinpedia.org/altcoin/xrp-price-rally-why-holding-on-could-pay-off-big-time/