XRP’s recent 14% price increase may result from Ripple’s partnership with Uphold, Xumm wallet’s growth, and NFTs coming to the XRP Ledger.
Key Takeaways
- Ripple partners with Uphold to enhance crypto liquidity.
- Xumm wallet surpasses 600,000 active users and plans upgrades.
- SBI Holdings to issue NFTs on the XRP Ledger.
XRP has seen a remarkable 14% surge in the last week, largely attributed to the anticipation surrounding a potential approval of a Spot Bitcoin ETF. However, several other developments are in play that could continue to drive XRP’s rally.
Blockchain giant Ripple has announced a strategic partnership with the Web3 financial platform Uphold. This partnership aims to bolster Ripple’s cross-border payments infrastructure by providing “enhanced crypto liquidity capabilities.” Notably, Ripple utilizes XRP as a utility token in its cross-border transactions. The infusion of “enhanced crypto liquidity” is expected to amplify liquidity within the XRP ecosystem, potentially triggering a further surge in the token’s value.
Top 3 XRP Developments You Should Be Aware Of That Could Boost Price https://t.co/l7fTgkZMKr
— Jose JM (@CryptoJoseJM) October 26, 2023
Xumm Wallet Records Milestone
XRP-based wallet Xumm recently celebrated a significant milestone, surpassing 600,000 active users in just three months. Known for its prominence on the XRP Ledger, Xumm has ambitious plans for the future, including a redesign to make it more user-friendly and integration of Automated Market Makers (AMM) and increased Decentralized Exchange (DEX) activity. These enhancements are poised to make the wallet substantially more robust and versatile. Furthermore, Xumm intends to incorporate XRP’s sidechain, Xahua, and the ‘Hooks’ feature, expanding the token’s utility even further.
NFTs Are Coming To XRP Ledger
Ripple’s efforts to accommodate tokenized assets and facilitate their trading on the XRP Ledger are bearing fruit. SBI Holdings has unveiled plans to launch its NFT service, “EXPO2025 Digital Wallet NFT,” known as ‘Myakoon,’ on the XRP Ledger. This development marks a significant step in the integration of NFTs into the XRP ecosystem, potentially opening up exciting new possibilities for XRP’s future.
To Conclude
These three major developments highlight the growing adoption and utility of XRP. The partnership with Uphold promises increased liquidity, the Xumm wallet’s expansion enhances user experience, and the arrival of NFTs on the XRP Ledger demonstrates its versatility. These factors, combined with the overall bullish sentiment in the crypto market, position XRP for potential further gains. Investors and enthusiasts alike should keep a close eye on these developments as they unfold.
