XRP trades near $2.87 after slight dip, RSI at 44.16 hints at possible rebound as XRPL upgrades boost DeFi and tokenization focus.
Ripple’s XRP Ledger (XRPL) has made notable advancements to increase its programmability, with developers successfully updating the Smart Escrow Devnet.
This development aligns with growing interest in tokenization and decentralized finance (DeFi), including BlackRock’s BUIDL tokenized fund. Ripple’s updates to the XRPL offer new functionalities that could position the blockchain for wider adoption.
On September 24, Ripple announced the successful update to the Smart Escrow Devnet, marking the sixth release of the feature. The update includes essential changes, such as fee adjustments, the issuance of multi-purpose tokens (MPTokens), and overall code improvements.
These updates aim to streamline the development experience, as Ripple emphasized their efforts to enhance the repository structure for developers.
With this update, the Smart Escrow functionality is considered feature-complete and is now entering a review and testing phase, opening doors for new use cases on the blockchain.
According to RippleX, the Smart Escrow functionality plays a crucial role in enhancing the programmability of XRPL. The feature is expected to support DeFi projects and tokenization efforts, which have gained momentum in the blockchain ecosystem.
Alongside the Smart Escrow update, another proposal on XRPL is garnering attention. The XLS-101d proposal aims to integrate full smart contract capabilities directly on the XRPL blockchain.
This would enable developers to create more advanced decentralized applications (dApps) and increase the blockchain’s versatility. The move towards adding full smart contract features positions XRPL as a stronger player in the DeFi space, where smart contracts are central to enabling trustless transactions.
This development is crucial as it complements Ripple’s partnership with Securitize. Together, they launched a smart contract solution for BlackRock’s BUIDL tokenized fund.
This partnership could open new avenues for tokenized securities on the XRPL and enhance the blockchain’s role in the growing trend of asset tokenization.
As Ripple’s XRP Ledger evolves, the price of XRP has remained relatively stable, trading around $2.84 at the time of reporting. Although the token has seen a minor decline of 0.60% in the past 24 hours, XRP’s price has shown resilience.
XRP has traded within a range of $2.86 to $2.87, with a decrease in trading volume by 40%. Despite this, the Relative Strength Index (RSI) at 44.44 suggests potential for upward movement, indicating investor interest during price dips.
Futures open interest in XRP has also seen slight increases, with a 1% rise to $7.57 billion. Notably, XRP futures interest on platforms like CME and Binance has also risen, indicating sustained institutional interest in the cryptocurrency.
The post Ripple’s XRPL Enhances Programmability as BlackRock’s BUIDL Swap Gains Momentum appeared first on Live Bitcoin News.
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