Blockchain developer Peersyst Technology unveiled a significant update to the XRP Ledger with the launch of a mainnet Ethereum Virtual Machine (EVM) sidechain. This development enables Ethereum-based protocols and dApps to run seamlessly within the XRP ecosystem.
Recent XRP price analysis suggests that this expansion could boost market sentiment and support potential price gains, especially as XRP approaches key resistance levels.
By integrating Ethereum compatibility, the XRP Ledger broadens its functionality and taps into a larger developer community and liquidity pool. Ripple’s continued use of the Ledger for cross-border payments, digital asset liquidity, and central bank digital currency initiatives means this upgrade may enhance network activity and strengthen XRP’s long-term value.
Peersyst confirmed the sidechain’s launch on X, highlighting that Ethereum-native applications can now operate directly on the XRP Ledger, Ripple’s foundational blockchain platform.
https://twitter.com/Peersyst/status/1939671512262529380?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow
(XRPUSDT)
On Monday, XRP’s price increased as it sought to break free from an extended consolidation period. The token has remained below the $2.65 resistance level for nearly three months. A daily close above the next key resistance at $2.30 could indicate a shift in momentum and signal the end of this sideways trading.
On the other hand, a drop below the June 22 low of $1.90 would challenge buyers and may prompt XRP to test the important psychological support near $2. Such a move could trigger liquidity gathering before any renewed upward push.
By connecting the XRP Ledger with the Ethereum ecosystem, this development may draw more users and developers into the XRP network, potentially boosting demand for XRP as the native currency facilitating transactions on the Ledger.
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The post ETH Comes to XRP Crypto: XRP Price Prediction Shifts Hopes appeared first on 99Bitcoins.
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