XRP Now Ranks 7th on CoinMarketCap Ranking, Overtakes Cardano

Whales Buy Dip Accumulating More Than 200 Million XRP
  • XRP has risen 9.46 percent in the last seven days.
  • After two years of development, the XRPL Labs team presented Hooks Amendment.

In CoinMarketCap’s top market-capitalization rankings, XRP has been able to beat Cardano (ADA) and is now standing at 7th position. After entering the month of July with almost similar values of $15.1 billion, XRP could separate itself from its perennial top competition and add an extra $1.4 billion to its capitalization in seven days. XRP has risen 9.46 percent in the last seven days, compared to Cardano’s 0.8 percent rise. XRP has doubled Cardano’s growth.

Significant Developments Over Time

The same seven days of XRP-related activities had a more upbeat tone: from Colombia’s usage of the XRPL blockchain and a rise in address activity on the XRP Network to the development of the Ripple court case and support for the XLS-20 standard for NFT. After two years of development, the XRPL Labs team stated today that they are ready to present the “Hooks Amendment,” which is a significant accomplishment for XRPL.

To add smart contract functionality to the blockchain, XRPL developer Wietse Wind proposed the concept of “Hooks,” which entails embedding tiny bits of code in the XRPL account to enable the transaction logic the developer requires to be executed on a decentralized network.

Smart contract hooks may be implemented in any programming language and business logic. As a result, smart contracts on XRPL may be executed with a high degree of freedom. Hooks Builder, a web platform enabling developers to test the invention in all of its manifestations, was announced at the same time that the public testing of the “Hooks Amendment” was announced by the XRPL Labs team.

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