XRPL Achieves Milestone with Over 82 Million Ledgers Closed

XRPL's Significant Ledger Milestone

The XRP Ledger (XRPL) recently achieved a major milestone by exceeding 82 million ledgers closed as of September 22, 2023. This accomplishment follows its previous landmark of 81 million ledgers, underscoring XRPL's dedication to decentralization, speed, scalability, and security. Such achievements highlight its potential as a formidable player in the blockchain arena.

The Impact of XLS-20 Protocol

A key factor in XRPL's recent growth is the XLS-20 protocol, introduced in October 2022. This innovative feature has transformed the XRPL by enabling native support for non-fungible tokens (NFTs). It facilitates the creation, holding, and trading of NFTs directly within XRPL accounts. Additionally, it simplifies royalty management and the minting and burning of NFTs.

NFT Growth and Market Potential

The adoption of XLS-20 has led to significant growth in the XRPL's NFT market. Since its launch, over 1.9 million NFTs have been minted, with nearly 30,000 accounts holding 1.6 million NFTs. More than 1.2 million NFTs have been transferred or sold, generating $12.8 million in transactions. These figures highlight XRPL's potential to rival Ethereum in the NFT space.

Upcoming Enhancements to Evernode

Plans are underway to upgrade XRPL's layer 2 smart contract platform, Evernode. These enhancements aim to improve the platform's reliability and promote further adoption of cryptocurrency and NFTs. The upgrades promise to bolster XRPL's position in the market.

XRP's Trading Volume Surge

The XRP token has also witnessed a surge in daily trading volumes on U.S. crypto exchanges, marking an all-time high. As Ripple continues its expansion, especially in the NFT sector, there is growing speculation about the potential for XRP's price to reach the $1 mark.

This dynamic growth and innovation within the XRPL ecosystem signal its rising prominence in the blockchain industry.