Why XRP Fans Are Optimistic About the Future of The Crypto

Despite the ongoing Ripple lawsuit, the XRP community is still very optimistic about the crypto’s future. Some well-known individuals in the crypto space, like Jimmy Vallee, predict that the XRP price could reach as high as $35,000. Others believe that the price could reach $50,000.

These predictions were met with skepticism from some in the industry, but they were defended by people pointing to the new payment ecosystem.

Also creating some optimism about XRP is the fact that there have been increased use cases for XRPL. Peersyst Technology announced the launch of Colombia’s first National Land Registry on top of the XRPL blockchain.

XRPL developers have also revealed that XRP Ledger now has a testnet offering smart contracts. This Hooks Testnet V2 has launched a few months ago and could also be a reason for the optimism surrounding XRP at the moment.

Hooks Builder was also revealed recently and it is basically a web based development environment which allows developers to build, test, deploy, trigger and debug Layer 1 smart contracts on XRPL.

This new development has the ultimate goal of making XRP Ledger compatible with smart contracts.

According to CoinMarketCap, XRP is currently worth $0.319 after a 5.79% drop in price over the last day. The crypto is, however, still up about 0.52% over the last seven days.

XRP’s 24-hour trading volume is currently up 75.82% and is standing at $1,059,735,957. In terms of market cap, the crypto is standing at $15,422,387,437.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.