The XRP Ledger, the blockchain network behind the digital currency XRP, is about to reach a historic milestone. Soon the number of processed blocks will reach 100 million.
Origin and development
According to data from xrpscan, the current number of blocks is almost 99.5 million. This means that there are still more than half a million to go before the 100 million barrier is broken. The network has been running since June 2012 and is celebrating its thirteenth anniversary this year.
The XRP Ledger was developed by David Schwartz, Jed McCaleb and Arthur Britto. They were inspired by Bitcoin but wanted to build a system that was faster, more sustainable and better suited for payments. This led to the introduction of XRP, now the fifth largest cryptocurrency in the world.
Prijsherstel na crash
The milestone coincides with a recovery in the XRP price. After a sharp fall from $2.83 to $1.77 during the recent market crash, the currency recovered to $2.64. This puts the price back above the 200-day average of $2.57.
The total market value of XRP is currently over $157 billion. Analysts are looking to see if the price can hold above this average, with possible next targets around $2.89 and $3.
XRP as a stable network
Despite the recent volatility in the crypto market, the XRP Ledger proves to be a stable and reliable network, according to experts. It has been running continuously for 13 years and processes millions of transactions every day. This means that, according to proponents, XRP remains one of the best performing blockchains.
In terms of price, these have been mainly disappointing years for XRP. This is partly due to the lawsuit that Ripple had to conduct against the American Securities and Exchange Commission (SEC).
Despite this, the army of investors behind the currency continued to buy the currency. Was that a good choice? The coming years will reveal that.
Source: https://newsbit.nl/xrp-ledger-nadert-historische-grens-van-100-miljoen-blokken/
