XRP ecosystem just welcomed another significant success in terms of reach and usability. On 13th September, the decentralised XRP Ledger (XRPL) reached 50 millionth ledger index milestone.
Going by the information deduced from XRPL’s official website regarding transaction information, the ledger contained 46 TNXs with the transaction fee of 0.6006 XRP.
XRP has become a household name in the crypto sphere. The mutual relationship between the third largest digital currency by market capitalisation and Ripple, the US-based blockchain Tech has fastened their bond, making them inseparable in terms of growth and daily success.
Nik Boughalis, the Ripple’s cryptographer and software engineer that leads the C++ team also hinted the XRP community of the amazing milestone via his Twitter handle few hours ago.
He said “The XRP Ledger successfully closed ledger #50,000,000 and has processed well over a billion transactions in the process”.
The hash provided is: 0C073A753670E99C210264F7783FE5F7C3DEAEE3B1237C10B1584E6FBD2A6505.
Outstanding Speed of XRP Ledger
The outstanding speed of XRPL has indeed set its use cases apart. The open-sourced ledger has the ability to process 1,500 TNXs/Sec. On August 28, XRP ledger processed 370 transactions in ledger index 49624361 within 3.5 secs.
At the completion of the transaction, the cost was totaled to be 26.27 XRP, which is approximately $7 at press time. The uncommon transaction speed has quite impacted the success of XRP Ledger since inception, and more improvements could still be welcomed as time passes.
To be factual, FUD about the indiscriminate sell off of XRP by Ripple flies around the crypto space, especially within the XRP community. This has also initiated rumour of hard forking the digital currency. However, this has not dissuaded the decentralised XRP Ledger from adding its outstanding part.
Furthermore, apart from the uncommon transaction speed and cost deduced above, the decentralised XRP Ledger has the ability to process transactions for other digital currencies.
A good example in this regard played out on 28th August, 2019, as shared on Twitter by a Software Production Agency, /dev/null Productions, which specialises majorly on XRP intelligence.
In the post, the organisation reported that 200,000 ETH was sent across the decentralised XRP Ledger. A typical example of the ability embedded in the ever XRPL.
Present Market Situation of XRP
All top cryptocurrencies in the market are at present undergoing almost the same trend. None of the top 10 coins has had significant rise or fall in price in the last 24 hours.
XRP has quite been stable above $0.25 support level, with little indication of distinct uptrend any time soon. At the time of filing this report, XRP is trading at $0.25547, with 0.29% price upsurge on 24 hours basis.