The launch of the XRP Ledger EVM sidechain has opened new horizons for developers, allowing the integration of Ethereum-compatible decentralized applications on XRPL. This event is accompanied by a growing interest from both developers and institutional investors.
Rising Demand for EVM Sidechain
According to technologist Paul Barron, the skyrocketing demand for the XRP Ledger EVM sidechain is linked to the explosion of smart contracts. He noted that the launch allows developers to build and port decentralized applications to XRPL, combining Ethereum compatibility with XRP's speed and low fees.
Cross-Chain Integrations and Liquidity
XRPL's integrations with cross-chain bridges such as Axelar and Wormhole have significantly boosted the ecosystem by enabling seamless asset transfers and liquidity between XRPL, Ethereum, and other blockchains. This led to over $100 million in daily liquidity and strengthened the demand for multi-chain access.
Bullish Trend of XRP
Analyst Lingrid mentioned XRP's bullish momentum as it forms a series of higher lows, which is a positive indicator for price growth. At the time of writing, XRP was trading at $2.28, representing a 2.5% increase over the past week.
The launch of the EVM sidechain within a week has demonstrated the potential for XRP Ledger to evolve from a fast payment ledger into a full-fledged smart contract ecosystem. With upcoming upgrades, including native XRP interoperability and staking support, the sidechain is becoming the centerpiece of XRPL's next growth chapter.
