Ripple has just made some major announcements that will bring new features to the XRP Ledger.
On September 3, Ripple revealed plans to launch Ethereum-compatible smart contracts on the XRP sidechain. This will enable more complex applications such as decentralized exchanges and token issuance on their network. Ripple will also use the Axelar network to facilitate cross-chain token transfers with wrapped XRP (eXRP) as the primary token on the sidechain.
Additionally, Ripple has entered into an AI and metaverse partnership with Futureverse and added Korea’s Yonsei University to their University Blockchain Research Initiative to support blockchain research.
Currently, $XRP is trading around $0.5610 and is seen stabilizing above the $0.56 support level. However, there is a possibility that XRP could fall further to $0.5187 if the bearish trend continues. Conversely, if the price goes above $0.5767, XRP could rise towards $0.6217.