XRP Community Excited Following Recent Smart Contract Development

XRP Price Surges Nearly 12% Despite Overall Bearish Market
  • Colombia’s first national land registry on the XRPL blockchain had been announced.
  • A testnet for XRP Ledger’s smart contracts has been launched.

Although the market is down and there is a Ripple litigation going on, the XRP community remains upbeat about the XRP price. Valhil Capital CEO Jimmy Vallee and his $35,000 buy-back price projection for XRP are the focus of the XRP community debate. It has been almost two years since Ripple filed suit against the sionSecurities and Exchange Commis (SEC). Following the SEC’s lawsuit against Ripple Labs, the two firms have had one of the most prolonged legal fights in the crypto field.

Years of Hard Work To Bring in Smart Contracts

It’s safe to say that the forecasts were regarded with skepticism. The community members are anticipating prices to reach double digits and beyond. Even if the Ripple SEC action is dragging on, there is still reason for hope because of the rising number of instances where XRPL has been put to use. Peersyst Technology, a Ripple partner, has announced the establishment of Colombia’s first national land registry on the XRPL blockchain.

Wietse Wind, an XRPL developer, claims that a testnet for XRP Ledger’s smart contracts has been launched. According to XRPL Labs, Hooks Testnet V2 was released some months ago. To help developers construct and test Layer 1 smart contracts on XRPL, it also introduced the Hooks Builder—a web-based programming environment.

According to a series of tweets from XRPL Labs, the effort was the culmination of two years of hard work. As part of its mission to integrate XRP Ledger with smart contracts, the company has taken this measure. According to CMC, the XRP price today is $0.325215 USD with a 24-hour trading volume of $1,163,431,834 USD. XRP is down 4.41% in the last 24 hours.

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