According to U.Today, the Ripple community is eagerly awaiting the full integration of Ethereum Virtual Machine (EVM) compatibility into the XRP Ledger (XRPL). Monica Long, the president of Ripple, recently provided a significant update on this development. In a post to the community, Long expressed her excitement about the progress being made by developers. She highlighted key advancements in the XRPL and its partnership with Axelar, which were detailed in the second quarter report. The XRPL EVM sidechain aims to offer new opportunities for developers in decentralized finance and real-world asset tokenization, fostering innovation and expanding the XRP network.
Long noted that the second quarter saw notable progress with the XRPL EVM sidechain and Axelar for interoperability. Axelar will serve as an exclusive bridge for the sidechain’s native token from XRPL and can connect over 50 blockchains to its ecosystem. Ripple is also looking forward to its collaboration with Archax, which is expected to bring hundreds of millions of dollars in tokenized real-world assets onto the XRP Ledger. Additionally, Long hinted at future releases involving Oracles and MPT, indicating that the third and fourth quarters will bring further developments for XRP.
The XRP Markets Report for the second quarter revealed that despite volatility in the broader cryptocurrency market, institutional adoption provided a sense of optimism. Through real-world asset tokenization and achieving regulatory milestones such as MiCA, XRP has managed to stay ahead. However, the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) remains a significant concern for the community. Many believe that XRP's market performance would improve once the legal issues are resolved.
