Ripple and its XRP coin are witnessing important developments during 2024. Here are the most important developments:
1. Technical and software expansions. Ripple is enhancing the capabilities of the XRP (XRPL) ledger by introducing new smart contracts via a sidechain compatible with the Ethereum Virtual Machine (EVM). This allows for greater flexibility for developers and enhances programmability within the currency ecosystem. 🚀✨
2. Financial and Currency Performance: XRP saw a significant increase in its value by more than 110% in November, breaking the $1 barrier after a long period of stability below this level. 💰📈 Ripple’s sales of XRP have reached more than $3 billion since the beginning of the year, reflecting the company’s intensive activity in issuing and trading currencies. 🔥
3. Legal Challenges: Ripple continues to face issues with the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. These issues have been ongoing for years, with varying impacts on the currency’s reputation. ⚖️🧐
4. Partnerships and global expansion: Ripple is partnering with global financial institutions, including a project with the National Bank of Georgia to digitize the local economy. The company has received new regulatory approvals in the UAE to expand its services in the region. 🌍🤝
5. Outlook: Despite the pressures and challenges, some analysts believe that the change in institutional sentiment towards XRP could help attract more investment and support the currency’s momentum in the coming months. 🤞💫
Do you think this is the beginning 🚀🚀🚀🚀? Share your opinion with me! 🎉💎