Ripple continues to make waves in the crypto verse despite its current legal battle with the sec. Recently, Tony Edward from the thinking crypto podcast interviewed Monica Long (Ripplex’s GM). Long spoke on several ripple projects and development.
The Best Value Offer
Long explained that ODL is ripple’s best value offer till date. She added that ODL’s Q3 2021 performance is 25 times better than its Q3 2020 performance. Also, this feature is being deployed in over 20 nations with Japan, Philippines, Mexico, Australia and the US as the top nations where they are deployed. Long further clarified that users can utilize this feature without being an XRP holder.
However, interested users can source their XRP from Ripple or an exchange partner. She reiterated that the ODL service hastens transaction processing without users incurring huge charges. Speaking about the XRP community, Long opined that the multi-chains represent the future.
NFTs, Other XRP Projects And The Ripple Bhutan Deal
Long further said that eth’s huge transaction fees is negatively impacting the nft space before remarking that transaction charges on xrp ledger are always a tiny fraction compared to ETH’s charges. The GM also revealed that the validators’ vote (after the overwhelming approval from the xrp ecosystem) is the next stage towards the implementation of the XLS-20 proposal which would enable minting of NFTs in XRP.
Long reminded listeners that the following XRP projects are still in the works – an automated market maker, federated sidechains and eth smart contracts’ evm sidechains. Long also spoke about Ripple’s deal with Bhutan in developing the pilot for their national digital currency. She stated that the technology’s unique proposition was its sustainability while emphasising the need for interoperability among various CBDC ledgers.
Long further noted that there have been several discussions among national central banks and their resolutions would be revealed “soon.” As widely reported, Ripple and the Digital Pound Foundation collaborated towards the development of Britain’s national digital currency. At that time, Ripple officially announced that “UK’s CBDC solution is hundreds of thousand times more efficient than blockchain’s pow and it’s carbon neutral.”
Whale Moves 13M XRP From One Exchange
In the last couple of days, whales have been moving their funds from exchanges. A whale alert data today confirmed that an xrp whale withdrew 13M XRP (worth $14M) from an exchange. But the funds are yet to be moved from the new wallet address.
It is to be noted that whales of other cryptocurrencies have also been behaving in a similar way. The latest glassnode data revealed that ETH’s exchange outflows is at its highest right now. However, XRP price continues to slip in line with the current global crypto market correction.
XRP lost 12.5% within one week to go from a $1.26 high to a $1.06 low. But now trades at about $1.10 as of this writing. Some analysts opine that the Ripple Vs SEC court case is negatively impacting the XRP price. If the end result of this court case eventually favors Ripple, it is expected that XRP price will rise sharply.
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