n particular, CryptoQuant analyst Maartunn has pointed out an uptick in XRP Ledger’s velocity in the past weeks. This ratio obtained by dividing market capitalization by turnover indicates increased network traffic and might signal direction in price.
Recent Price Performance
In the case of XRP, it has skyrocketed after the US elections, with the price rising from $0.53 on November 6 to $2.8. up by 430%. However, the TVL in the blockchain has declined to approximately 20%, from $71.5 million to $58 million on December 16.
New Developments and Growth Drivers
The company Ripple has launched their own stablecoin. Ripple USD or RLUSD, which functions on the XRP Ledger as well as the ETH Network. As a stable, dollar-pegged token. The goal is to grow the XRPL through new liquidity creation and RWA.
Future Growth Potential
Furthermore, On the R.W.A market, the opportunity seems to exist. Hence, Bitwise estimates the market at approximaately$3 trillion. They are keen on this market and this is proven by Ripple signing the money market fund managed by abrdn.
Velocity Metrics and Network Usage
Although there are indicators such as total value locked shrinking, the growth in velocity and other strategic policies depict upward movement of the XRP Ledger. By introducing RLUSD and addressing the objective of real-world asset digitalization, there is potential to achieve steady growth in network activity and practical value.
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