XRP Ledger development faces discussions regarding changes to its codebase and implications for the XRP market. However, recent updates promise to enhance the network's capabilities.
Understanding Codebase Change on XRP Ledger
Some users expressed concerns about a potential codebase change in Ripple that might affect network security and risk user funds. However, RippleX senior software engineer Mayukha Vadari quickly alleviated these fears, explaining that the programming language has no impact on the ledger's data or the safety of user holdings. "Nothing will happen to your XRP," he reassured, adding that the ledger's design ensures continuity regardless of backend changes.
New Features of XRP Ledger
The recent release of XRP Ledger version 2.5.0 includes significant updates aimed at expanding enterprise and institutional use cases. One of the major additions is the XLS-85 amendment, which allows the escrow system to handle third-party issued tokens like stablecoins. Additionally, the XLS-56 amendment lets developers bundle up to eight separate transactions into a single wrapper, streamlining complex operations and reducing network congestion.
XRP Price Dynamics and Market Factors
Despite the technological advancements, XRP's price has dropped by about 9.5% over the past week. Major contributing factors include disappointing U.S. labor data and unconfirmed social media claims of another cryptocurrency ban in China. Technical analyst Ali Martinez flagged a sell signal on XRP’s three-day chart and highlighted $2.40 as a critical support level. While XRP's fundamentals appear strong, price fluctuations continue to be tethered to macroeconomic trends and investor sentiment.
XRP Ledger updates provide new opportunities for the network, but the volatility of XRP's price highlights the impact of external factors on the cryptocurrency market.
