Key chain upgrade opens up escrows with RLUSD compatibility, XRP price bounces back softly in an all-red market.
This Wednesday, Ripple’s XRP Ledge got a key makeover with the 2.5.0 upgrade. The official blog message urged all crypto enthusiasts running an XRP Ledger server to update their software to the 2.5.0 version to ensure service continuity.
What This Upgrade Brings To The Table For XRP?
This fresh XRP Ledger upgrade unleashes a bunch of new features and amendments. Most notably, the long-awaited software update includes batch transactions and token escrow feature, which is fully compatible with the RLUSD stablecoin & all sorts of on-chain treasuries, including meme coins on the ledger.
As more banks are integrating Ripple’s blockchain into their everyday ventures, the brand new permissioned decentralized exchange (DEX) offers a fully-compliant way of using the XRPL. Additionally, advanced delegation features, minor bug fixes & safety rules were implemented.
For instance, the XRP Ledger installs invariant checks for automated market maker (AMM) transfers, potentially blocking any type of illicit activity on the network. Moreover, all non-fungible token (NFT) interactions have to be authenticated by the participant, meaning no more NFT spam.
Upon the news, XRP’s price briefly restored a crucial resistance level at $2.22, but the uncertain market conditions sent the popular remittance altcoin below $2.18 at the time of publication. At present, Ripple coin (XRP) is at a price territory that could go both ways – crypto bears & bulls have been equally liquidated at nearly $1 million each on Derivatives markets.
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