The total crypto market appears to enter in a slight consolidation after the recent solid rally. However, Ripple’s XRP extends its uptrends. While writing this content, the altcoin trades at $1.33 after surging 22% in 24 hours. With such upside moves, Ripple has its market capitalization at $61.6 billion.
XRP has managed to gain over 60% since last week. That way, the digital currency outperformed coins with impressive rallies like Cardano (ADA).
With such price reactions, Ripple’s asset successfully decoupled itself from other cryptocurrencies. Keep in mind that the alt has never traded this high over the past three months.
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According to Santiment, an on-chain analytic firm, XRP’s upside moves receive support from the massive improvement activity on the asset’s blockchain.
The company wrote that the altcoin hinted at skyrocketing development activity before decoupling from the cryptocurrency pack. Moreover, the network developers submit the highest rate as far as GitHub activity is concerned.
XRP Supports NFT Innovation
Ripples seem interested in the recent NFT trend. The team believes that the Ripple ledger is suitable in the growing NFT marketplace.
David Schwartz, Ripple CTO, noted that the coin’s ledger ensures a distinct combination of smooth payments, low cost, and high-speed features required to modernize NFT establishment at scale.
Meanwhile, sellers and buyers will benefit from the platform’s ability to keep consistent transaction charges. Most crypto projects do not have that feature.
It is undeniable that NFTs have their place in the digital marketplace. Most blockchain projects are interested in expanding their ecosystem with the help of NFTs.
For now, Ethereum appears to lead as far as NFTs hosting and adoption is concerned.
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Keep in mind that NFTs guarantee a unique model to digitize insufficiency assets by ensuring straightforward entry for new traders. Ripple’s NFTs’ adoption might support their expansion by expanding their presence in the cryptocurrency market.
The overall market seems to cool as it awaits for the upside catalysts to register new highs. The altcoins will depend on their network developments, and as usual, Bitcoin’s price changes.
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