Title: Why XRP Fans Are Optimistic About the Future of the Crypto

Jul 11, 2022 04:00 AM ET

By: AnalysisWatch

Despite the ongoing lawsuit against Ripple, the XRP community is still very optimistic about the future of the cryptocurrency. Some well-known figures in the crypto space, such as Jimmy Vallee, predict that the XRP price could reach $35,000. Others believe that the price could reach $50,000.

These predictions were met with skepticism by some in the industry, but they were defended by people who pointed to the new payment ecosystem.

Another reason for optimism about XRP is the fact that there are more and more use cases for XRPL.

Peersyst Technology announced the launch of Colombia's first national land registry based on the XRPL blockchain.

XRPL developers also announced that XRP Ledger now has a testnet that offers smart contracts. This Hooks Testnet V2 was launched a few months ago and could also be a reason for the optimism that currently surrounds XRP.

The Hooks Builder was also recently unveiled and is basically a web-based development environment that allows developers to create, test, deploy, trigger, and debug layer 1 smart contracts on XRPL.

This new development has the ultimate goal of making the XRP ledger compatible with smart contracts.

According to CoinMarketCap, XRP is currently worth $0.319 after falling 5.79% in the last 24 hours.

However, the cryptocurrency is still up about 0.52% over the past seven days.

XRP's 24-hour trading volume is currently up 75.82% and stands at $1,059,735,957. In terms of market capitalization, the cryptocurrency currently stands at $15,422,387,437.