Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
Subscribe to AMBCrypto’s Newsletter
Ripple’s XRP reaches its highest market volatility since September 2018
Ripple’s performance during the crypto-winter led many analysts to believe that there was only a very small chance of breakout for the XRP/USD pair, according to various technical analysis. While the cryptocurrency sported a consistent downtrend throughout 2018, September’s market volatility resulted in an unusual spike to $0.8 in trading value.
While XRP’s price was not able to maintain its seemingly one-off price rise, it traded throughout the year while maintaining a strong support at $0.27. At the same time, the third largest cryptocurrency had been crippled by contracted volatility, and the downfall of the market leader, Bitcoin [BTC].
Contrary to popular beliefs, Ripple’s XRP witnessed a major increase in its transaction volumes recently. Compared to the previous year, the cryptocurrency’s transaction volume has now almost doubled, hinting at the probability of a bull market for the token. At press time, XRP’s trading volume had risen by $1 billion, as investors continued to put their money into the XRP market.
While every market dip opens up an opportunity to accumulate XRP, the bull run is expected to take place as long as the XRP/USD pair’s value manages to steer over the ongoing support at $0.27. Additionally, the bullish trend is also positioned to retain its ongoing sideways trend, contrary to sudden alternating spikes in the past.
With the XRP market displaying more volatility and signalling more buyers, the coin’s market is currently positioned to make a 1400% jump back to its $3 value.
Subscribe to AMBCrypto’s Newsletter
Bitcoin Cash [BCH] vs Bitcoin SV [BSV] Price Analysis: BCH bullish as BSV struggles to keep pace
Bitcoin [BTC]: Blockchain reorgs are an important part of BTC protocol, says Money Button’s Ryan X. Charles
How to Buy BTC for Just 10% of its Value on YouHodler
Cryptopia hack: Stolen Ethereum, ERC20 tokens land up in ‘major cryptocurrency exchanges’
mBitcasino announces support for FIAT currencies
Tron [TRX]: Justin Sun short-changes new winner; awards USD equivalent instead of a Tesla
Cardano [ADA]’s Charles Hoskinson says ADA will become top coin in the market if the current momentum continues
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
SEC shows green light to new Silicon Valley stock exchange LTSE; boosts cryptocurrency inclusion
Litecoin [LTC] bought at $100k on Binance when coin was trading at $90
Tron [TRX] announces future trading on OKEx platform from May 20
HitBTC is insolvent, claim customers facing trouble withdrawing funds for several weeks
Bitcoin [BTC]: Coin’s present-day price rise is different from 2017 rise, says Barry Silbert
Bitcoin [BTC]: Andreas Antonopoulos says blockchain technology should not be ‘mashed’ with technologies such as IoT