Connect with us
Active Currencies 10198
Market Cap $1,202,965,919,701.68
Bitcoin Share 44.64%
24h Market Cap Change $1.25

XRP unveils a key technical feature amidst a bullish wave

3min Read
Ripple [XRP] unveils a key technical feature amidst a bullish wave

Share this article

  • XRP was in the middle of a bullish wave, growing 24% over the past week and 40% over the last month.
  • XRP Ledger’s network growth reached a three-month high on 29 March.

The XRP Ledger (XRPL) is a layer-1 blockchain developed by Ripple [XRP] which functions as a global payments network, serving major banks and financial services.

Collection of top AI tools to use for different tasks.


Over the last month, it has witnessed a significant increase in its trading activity. Recently, the number of new accounts activated, which is a good indicator of the network’s growth, reached a three-month high of 3,383 on 29 March, as per XRP Scan.

Source: XRP Scan

Additionally, the blockchain has processed an average of more than 1.4 million transactions daily since mid-March, including the 16-month high of 2.236 million on 19 March.

Anticipating further expansion, Ripple Labs is set to dish out a new technological upgrade to address scalability issues that may surface in the future.

Realistic or not, here’s XRP’s market cap in BTC terms

XRPL Sidechain

Ripple announced that the sidechains support for XRPL was available for testing and initial application development on a new devnet. Ripple asked the developer community to try out the new design and provide feedback about features, bugs, or other network issues.

The Ripple ecosystem has been working on its vision of federated sidechains, designed to allow developers to adapt the XRP Ledger (XRPL) to their use case requirements.

Ripple also introduced Ethereum Virtual Machine (EVM) sidechain on devnet to bring existing Solidity-based smart contracts written for EVM-compatible chains to the XRPL.

Additionally, due to popular demand for a native smart contract-like functionality, the team unveiled Hooks. These small pieces of code will provide additional programmability on top of XRPL.

XRP creates social buzz

XRP reacted positively to this development and was up 1.3% to $0.544 at press time, per CoinMarketCap. The coin is in the middle of a bullish wave, growing 24% over the past week and a whopping 40% from what it was a month ago.

Data from Santiment revealed that large addresses were on an XRP accumulating spree in March. The number of addresses holding between 1,000 to 10 million coins swelled up significantly.

The accumulation by this cohort of investors is a good indicator of the prevailing bullish sentiments for a coin.

XRP’s social volume also grew consistently throughout March and reached its one-month high on 29 March, an implication that the crypto community was taking note of XRP’s momentum.

Source: Santiment

Is your portfolio green? Check the Ripple Profit Calculator

XRP also witnessed massive demand in the futures market as the Open Interest (OI) surged to nearly $730 million at press time, representing a weekly growth of 38%, per data from Coinglass.

Source: Coinglass


Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.