Reasons behind XRP's surge
RippleX is about to make a major upgrade to XRPL, predicting that XRP may soar
RippleX announced that it will launch an XRPL testnet reset on August 19, 2024, aiming to improve the stability and efficiency of the network. This upgrade includes optimizations to XRPL's core functions and plans to integrate the Ethereum Virtual Machine (EVM) and real-world asset tokenization functions. Analysts predict that the price of XRP may surge by 2,100%, even reaching more than $100 in the long run.
Testnet reset: RippleX plans to reset the XRPL testnet at 3:00 a.m. (EST) on August 19, and the process is expected to last 15 minutes. The reset is designed to enhance the stability of the test environment to support the needs of developers and users. Enhanced stability: RippleX will limit the use of testnet XRP, reduce network congestion, and plans to implement more protection measures and future resets to ensure the reliability of the testnet.
Strategic Partnerships
EVM Integration: RippleX is integrating the Ethereum Virtual Machine (EVM) into XRPL, a move that is expected to drive decentralized finance (DeFi) and the tokenization of real-world assets. This integration is expected to significantly enhance the functionality and market competitiveness of XRPL. Axelar Partnership: Axelar will provide a bridge connection for the XRPL EVM sidechain, which supports connecting more than 50 blockchains and enhances the flexibility of cross-chain operations. Archax Partnership: Archax plans to bring hundreds of millions of dollars worth of tokenized real-world assets to XRPL and provide support for XRPL's asset integration.
Analyst Javon Marks is optimistic about XRP's future performance. He pointed out that XRP could see significant price increases based on the following factors:
Symmetrical Triangle Pattern: Marks pointed out that XRP is currently in a symmetrical triangle pattern, similar to the trend during the 2014-2017 period. This pattern has led to significant price increases in the past, and Marks predicts that the current pattern may trigger a similar bull run. Historical precedent: Referring to historical data, Marks believes that the price of XRP has the potential to break through $15 to $18, and there is a lot of room for improvement in the future.
