{"id":9281,"date":"2024-09-25T08:02:22","date_gmt":"2024-09-25T08:02:22","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9281"},"modified":"2024-09-25T08:02:22","modified_gmt":"2024-09-25T08:02:22","slug":"ripple-xrp-enables-an-integral-update-to-the-xrpl-mainnet-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9281","title":{"rendered":"Ripple (XRP) Enables an Integral Update to the XRPL Mainnet: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP Ledger\u2019s fixAMMv1_1 update was activated on September 24 to improve the Automated Market Maker (AMM) feature.
\nXRP\u2019s price remained steady around $0.58 following the development.<\/p>\n

<\/a><\/span><\/h2>\n

The First Out of Three<\/h2>\n

Earlier this month, the team behind XRP Ledger (XRPL) <\/span>announced<\/span><\/a> that\u00a0a\u00a0major update under the code fixAMMv1_1 <\/span>will<\/span> be implemented within two weeks. The development was approved\u00a0to proceed after 28 votes in favor (out of 35). <\/span><\/p>\n

According to XRPScan, the working group <\/span>enabled<\/span><\/a> it on the XRPL mainnet on\u00a0September 24. The upgrade primarily focuses on the Automated Market Maker (AMM) functionality and aims to enhance the <\/span>its<\/span> efficiency, performance, and usability.\u00a0<\/span><\/p>\n

For its part,<\/span> the AMM is a decentralized mechanism that allows users to exchange assets directly on the XRPL without needing intermediaries.<\/span> The main goal of the improvement is to streamline the trading process and minimize potential risks for liquidity providers.<\/span><\/p>\n

The team said <\/span>the implementation of<\/span> fixAMMv1_1 is one of the three amendments to be activated this week. The XRP Ledger has witnessed several other updates recently. Last month, its main\u00a0Testnet\u00a0<\/span>underwent<\/span><\/a> a reset, <\/span>becoming<\/span> temporarily unavailable to users. <\/span>The effort aimed to improve stability and reduce the <\/span>cost of running a node<\/span>.<\/span><\/p>\n

A few weeks before that, OpenEden<\/span> \u2013 <\/span>a fintech firm connecting traditional finance with decentralized finance (DeFi)<\/span> \u2013 <\/span>announced<\/span><\/a> plans to introduce tokenized US Treasury bills (T-bills) to the XRP Ledger for the first time. Ripple also revealed it will establish a fund to invest $10 million <\/span>in<\/span> these products.<\/span><\/p>\n

\u201cI<\/span>nstitutions are increasingly looking at where to tokenize their real-world assets, and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization,<\/span>\u201d <\/span>Markus Infanger \u2013 Senior Vice President at RippleX \u2013 commented at the time.\u00a0<\/span><\/p>\n

XRP Price Reaction?<\/span><\/h2>\n

Ripple\u2019s<\/span> native token -XRP \u2013 experienced little to no<\/span> volatility following the <\/span>aforementioned upgrade<\/span> announcement and continues to trade at around $0.58 (per <\/span>CoinGecko\u2019s<\/span> data).\u00a0<\/span><\/p>\n

Meanwhile, it is up 10% on a two-week scale after positive developments such as <\/span>Grayscale\u2019s<\/span> launch<\/a> of a dedicated Ripple Trust and the US <\/span>Fed\u2019s<\/span> decision to lower interest rates by 0.5%.
\n<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

Those willing to explore some optimistic price predictions related to the token can check our dedicated article <\/span>here<\/span><\/a>.<\/span><\/p>\n

The post Ripple (XRP) Enables an Integral Update to the XRPL Mainnet: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP Ledger\u2019s fixAMMv1_1 update was activated on September 24 to improve the Automated Market Maker (AMM) feature. XRP\u2019s price remained steady around $0.58 following the development. The First Out of Three Earlier this month, the team behind XRP Ledger (XRPL) announced that\u00a0a\u00a0major update under the code fixAMMv1_1 will be implemented within two weeks. The […]<\/p>\n","protected":false},"author":0,"featured_media":9282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9281"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9281"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9282"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}