After the legal battle between Ripple and the SEC, Ripple has achieved another milestone. Following Judge Torres’ decision, Ripple has been relisted on several centralized exchanges and has become part of international agreements. The developments in Ripple’s public blockchain network will particularly please Ripple investors.
Ripple’s Blockchain Adventure
Ripple’s public blockchain network, the XRP Ledger ecosystem, currently holds a total of 58,882,058,146 XRP tokens in various accounts, with 4,812,427 wallets storing them. With these massive numbers, Ripple has achieved an important milestone in its ecosystem. According to analysts, this significant distribution is a source of hope for the adoption of the crypto asset and the continuous growth of the ecosystem in terms of XRP price.
This notable development, along with the increase in the number of NFTs using the XLS-20 standard in the XRP Ledger ecosystem, indicates a significant rise in user potential for the platform. The minting of over 3 million XLS-20 compatible NFTs on the XRP Ledger provides a fruitful ground for artists and NFT collections. This situation will contribute to the growth of a wide audience in the ecosystem.
XRP Community Keeps a Close Eye on the Developments
Several proposed changes to further enhance the XRP Ledger ecosystem are being evaluated by the Ripple community. The Clawback function and Automatic Market Makers (AMM) are among these notable developments. Users and stakeholders who want to experience the XRP Ledger ecosystem closely follow these developments due to the potential introduction of new features and capabilities.
Jon Nilsen, an XRP Ledger validator, expressed his confidence in the changes made for versions 1.10.0 and 1.11.0 and recommended carefulness during the process towards version 1.12.0.
The widespread adoption of the XRP Ledger by users and the developments in the growing NFT ecosystem ensure the permanent position of this ecosystem in the Web3 world. This will firmly position XRP as a significant player in the ever-changing blockchain technology and cryptocurrency landscape.
