The XRP Ledger (XRPL) is gearing up for a significant update aimed at enhancing its decentralized trading capabilities. This amendment, which has gained strong approval with an 82.86% consensus, will be implemented in two weeks and is expected to improve the efficiency of the network’s Automated Market Maker (AMM) feature.
TL;DR
- XRP Ledger (XRPL) will undergo a major update in two weeks, focusing on improvements to the Automated Market Maker (AMM) function.
- Ripple’s XRP has experienced a 1% price dip in the past 24 hours and a 7% decrease over the last two weeks, despite recent network developments.
Two-Week Countdown to Activation
The XRP Ledger team has confirmed that a key upgrade, fixAMMv1_1, will be activated in two weeks. This update, which received 28 votes out of 35, is designed to enhance the Automated Market Maker (AMM), a decentralized trading mechanism allowing users to swap assets directly on the XRPL without middlemen. The primary goal of the fix is to boost the system’s efficiency and reduce risks for liquidity providers.
This announcement follows other improvements on the XRPL, including a Testnet reset in mid-August, which temporarily disrupted access for developers. This reset was intended to enhance the system’s stability and lower the operational costs of running Testnet nodes. The development team also encouraged the community to establish additional testnets to accommodate diverse testing and development needs.
OpenEden Brings Tokenized T-Bills to XRPL
Earlier this year, OpenEden, a fintech company that bridges traditional finance with decentralized finance (DeFi), announced the introduction of tokenized US Treasury bills (T-bills) on the XRPL. This marks the first time T-bills will be available to XRPL users, signaling the network’s growing role in real-world asset tokenization.
Ripple has also committed to supporting these developments, pledging $10 million toward investments in tokenized products like T-bills. Markus Infanger, Senior Vice President at RippleX, commented:
“With more institutions exploring tokenization of real-world assets, the addition of T-bills on the XRPL through OpenEden strengthens its position as a leading platform for tokenizing real assets.”
Tokenized T-bills allow traditional Treasury bills to be digitized and traded on a blockchain platform, offering new ways for institutions and investors to access and transfer these assets more efficiently.
XRP Price Outlook
Despite the announcement of this upcoming XRPL upgrade, XRP has yet to see any major price movements. Over the last 24 hours, the price of XRP has dropped by 1%, currently trading around $0.53. Over the past two weeks, XRP has seen a more significant 7% decline, reflecting broader market trends.
Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have also experienced losses, with Bitcoin dipping to $56,200 after reaching $58,000 and Ethereum falling below $3,350.
Although XRP’s price remains relatively stagnant, the upcoming enhancements to the XRPL and the introduction of tokenized assets could offer long-term opportunities for growth and further adoption.
Keep an eye out for more updates as the XRPL prepares for this major upgrade and watch how these developments could impact Ripple’s ecosystem in the future.
