According to crypto analyst Pumpius, XRP is steadily gaining ground thanks to improvements and new features on its underlying technology, the XRP Ledger (XRPL). He believes 2024 will be a particularly successful year for the altcoin, predicting it will have a significant impact globally.
XRP Is Quietly Taking Over Institutional Finance
In a recent post on X (formerly Twitter), Pumpius pointed out that while many are focused on internet trends, the XRP Ledger is steadily gaining traction in traditional finance. He highlighted that the network has received five major upgrades in just six months, and anticipates continued development.
Beyond its recent price increase, XRP has several strong underlying factors supporting its growth. Spot exchange-traded funds (ETFs) are starting up, and trading volume for XRP futures on the Chicago Mercantile Exchange (CME) has surpassed $1 billion. Additionally, debt from Moody’s was issued using the XRP Ledger (XRPL), and Société Générale is working to integrate its digital euro with the network.
A financial analyst recently pointed out that several key features are now available on the XRP Ledger, designed for institutional investors. These include tools for lending, a private exchange, secure token holding, and advanced privacy technology. These capabilities allow institutions to trade with confidence, adhering to all relevant regulations.
According to Pumpius, XRP has a solid base and is now ready to handle a massive amount of real-world financial activity – potentially trillions of dollars. He believes predictions for 2025 were premature and that XRP will begin to have a significant global impact this year. Evernorth, a company building on the XRP Ledger (XRPL), also noted the increasing growth and institutional adoption of the XRPL this year.
Over the past year, the number of transactions on the XRP Ledger has jumped 65%, rising from 43 million to 71 million. The biggest contributors to this growth are Bitstamp, Ripple, Justtoken, Braza Bank, and VERT.
XRPL Validator Floats Idea Of Layer-2s On XRPL
A validator for the XRP Ledger, Vet, has proposed building layer-2 solutions directly on top of the existing XRP Ledger (layer-1). This could make the network faster and more efficient. Vet believes this approach would keep the main XRP Ledger simple, focusing its use on secure self-custody of funds, completing transactions, and providing guaranteed finality for these layer-2 solutions.
The vet explained the new layer-2 technology will be much faster, processing a lot more transactions per second. It will also include unique features like a possible platform for trading derivatives and a way to regularly update information on the main layer-1 network. This setup will make it easier for the two layers to work together, essentially combining a sidechain concept into one unified system and solving problems with scattered liquidity.
A validator for the XRPL network acknowledged that several problems still need to be fixed, including issues with memory usage, network capacity, and timing conflicts caused by the different speeds at which the network’s layers operate. Currently, XRP is trading at approximately $1.45, a decrease from its price 24 hours ago, according to CoinMarketCap data.
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2026-05-13 22:01