Over the past week, XRP has gained over 60%, outperforming even other top performers like Cardano’s ADA. Thus, he managed to decouple himself from the rest of the crypto crowd. This is the first time in three months that XRP is trading at such high levels.
As on-chain data provider Santiment writes, price action follows strong development activity on the Ripple blockchain.
Before decoupling from the #crypto pack, we have seen indices of development activity skyrocket. #XRPthe team now submits the highest #github activity rate in the history of the asset.
Ledger XRP supporting NFT innovation
Ripple is looking to jump into the latest NFT trend and has noted that the XRP ledger is very suitable for helping to further develop non-fungible tokens (NFTs).
Ripple CTO David Schwartz noted:
The XRP Ledger offers a unique combination of low cost, high speed, and quality payment features needed to streamline the creation of large-scale NFTs. In particular, the general ledger’s ability to maintain consistent transaction fees, which is not possible on most other platforms today, is a key benefit for buyers and sellers.
Non-fungible tokens (NFTs) have created a major rage in the crypto space. Almost all major blockchain projects are looking to NFTs on its platform to further expand the ecosystem.
Etheruem currently has the lion’s share of NFT adoption and hosting. They offer a unique way to digitize scarcity assets by facilitating access to new market players. Ripple’s adoption for NFTs could prepare it for the next level of growth and help them expand its market presence in the crypto space.
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