The former principal developer advocate at San Francisco-based payments firm Ripple is revealing that a key functionality is coming to the XRP Ledger (XRPL). Ripple insider Matt Hamilton responds to a claim made by an anonymous Twitter user that payments network XRP has no use case. According to Hamilton, XRP is being used on a daily basis for international payments, non-fungible tokens (NFTs) and web monetization among others. Last month, Ripple announced that its crypto-based settlement solution, On-Demand Liquidity (ODL), witnessed massive growth this year and is now being supported in a growing number of payout markets, including Africa, Israel, Australia, Brazil, Argentina, Belgium, Singapore, the UAE and the UK. Will smart contracts in XRP result in a Ripple price rally before Q1 2023 ends?
On December 22, Whale Alert, a blockchain data tracker, tweeted that a huge amount of XRP tokens were transferred from unknown wallets to Bitstamp exchange. Meanwhile, XRP was recorded as one of the most used smart contracts among the top 500 BSC whales in the last 24 hrs. The data tracker reported that 45,000,000 XRP which is worth $15,596,743 was transferred from unfamiliar wallets to Bitstamp exchange.
A smart contract is a blockchain-based program that encodes the conditions and fulfillment of an agreement between two or more parties and automatically fulfills the terms of the agreement once conditions are met. A smart contract can help you exchange anything of value in a transparent, traceable, tamper-resistant, and irreversible way.
The benefit of encoding a smart contract into a blockchain is that it enables the contract to be securely carried out without traditional third-parties, like financial or legal institutions. Instead, the contract is supervised by the distributed, decentralized network of computers that run the blockchain.
You can use XRP Ledger escrows as smart contracts that release XRP after a certain time has passed or after a cryptographic condition has been fulfilled. In this case, we'll use an escrow as a smart contract that releases XRP after a cryptographic condition has been fulfilled.
The performance of any cryptocurrency depends on a number of factors. But when it comes to XRP, it has been through significant growth since its launch. Ripple made a startling surge at the beginning of 2017 and 2018 and briefly overtook Bitcoin as the second most capitalized cryptocurrency in the world.
2018 was the best year for Ripple (XRP) as the XRP price went to its all-time high of $3.84, and investors gained nearly 1000% in return on their investment in XRP. This is why 2018 is said to be a good year for XRP.
The performance of XRP in 2022 could be better as the overall market price chart fluctuated. We all know that many coins like Luna crashed, so it is better that XRP at least didn't see a steep downward trend in the crypto market.
Ripple Labs has recently asked the court to issue a summary judgment that will favor their plea of nullifying the case filed against them by the US Securities and Exchange Commission. This is under the account that the SEC failed to prove their claim that "XRP is an investment contract and should be treated like a security."
The Ripple (XRP) price has suffered because of this legal case, barely gaining since the SEC filed the case two years ago. Worse, the token fell from an all-time high of $3.30 notched in late 2018 to a cycle low of $0.11 in March 2020. Along with the news, XRP's price jumped 6.12%, currently trading at $0.39.
After the analysis of the prices of XRP in previous years, it is assumed that in 2023, the minimum price of XRP will be around $0.579942. The maximum expected XRP price may be around $0.69993. On average, the trading price might be $0.59994 in 2023.
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