The XRP Ledger blockchain can now run Ethereum-compatible smart contracts following its mainnet launch.
Ethereum-based decentralized applications (dApps) and smart contracts are now interoperable with the XRP Ledger ecosystem.
XRP could rally 10%, retesting the May 16 high of $2.4399 as a key resistance level.
XRP Ledger Integrates Ethereum Virtual Machine (EVM) Compatibility
Peersyst Technology, a developer building on the XRP Ledger, announced the launch of an EVM-compatible sidechain this week. This milestone enables Ethereum-based dApps and protocols to operate within the XRP ecosystem, fostering cross-chain liquidity and user engagement.
Ripple, the payments giant leveraging the XRP Ledger for cross-border transactions and CBDC solutions, stands to benefit from this expansion. Increased utility and adoption of XRP could drive long-term price appreciation.
Key Benefits of EVM Compatibility:
- Interoperability: Seamless integration of Ethereum dApps into the XRP ecosystem.
- Liquidity Growth: Access to Ethereum’s developer base and user activity.
- Innovation: New use cases for XRP in DeFi, NFTs, and tokenized assets.
XRP Price Analysis: 10% Upside Potential
Technical Indicators Supporting a Rally:
- RSI (53): Trending upward, indicating bullish momentum.
- MACD: Green histograms above the neutral line suggest buying pressure.
- Key Resistance: A daily close above $2.4399 could end XRP’s three-month consolidation.
Risks to Watch:
- A drop below $2.1316 (June 24 low) may invalidate the bullish thesis, pushing XRP toward the psychological $2 support level.
FAQ Section
Q: How does EVM compatibility benefit XRP holders?
A: It expands XRP’s utility by enabling smart contract functionality, potentially attracting developers and investors.
Q: What’s the short-term price target for XRP?
A: A 10% surge to $2.4399 is plausible if bullish momentum holds.
Q: Could this update impact Ripple’s ongoing SEC case?
A: Unlikely, but technological advancements may strengthen XRP’s long-term adoption narrative.
👉 Discover how XRP’s EVM integration unlocks new investment opportunities
👉 Why cross-chain interoperability is the future of blockchain
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves risks, including the potential loss of capital. Always conduct independent research before investing.
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