xrp

XRP Adoption & XRP Ledger Decentralization Hit High Notes in Complete Contrast with Price

XRP price down in double-digits at $0.265 while its adoption takes a surge as Netcoins adds support, making it available in 21000+ retail locations in Australia, Europe, and Canada. Also, XRP Ledger takes a big step towards decentralization as Ripple dominance drops to 48%.

XRP at $0.265, XRP ledger becomes decentralized

XRP price might not be doing well as the crypto market takes a serious hit and losses billions of dollars in less than 24 hours. At the time of writing, XRP has been changing hands at $0.265 with a 13.95% loss. The world’s third largest cryptocurrency is plunging severely as shown in the chart below, it started moving in a descending pattern from yesterday’s $0.30 to $0.253 today at one point.

xrp
Source: Tradingview.com

However, XRP price’s downward momentum same as a majority of the other cryptocurrencies is currently overshadowed by the surge in its adoption and decentralization of XRP ledger.

According to the latest data, the validator nodes on the default Unique Node List (UNL) on XRP Ledger run by Ripple has dropped below 50%. This means, now XRP Ledger is decentralized.

From the beginning, Ripple has been working on this facet that has also been part of its roadmap. The UNL basically provides a list of validators that can be consulted for transactions. Ripple has been slowly working towards this decentralization by adding third-party validators. And for every one of this validator, Ripple removes one of its own.

XRP Ledger is a public ledger that “XRP is native on”. As shared by David Schwartz, the CTO at Ripple on Quora, “It supports a decentralized exchange for other assets, fast payments, and so on.”

The Ripple dominance has slid down to 48% as out of 21, the company only has 10 validators that further takes XRP Ledger to decentralization.

Also, read: XRP Drops Back to $0.29 Despite Positive News, What to Expect Now?

XRP available on 21000+ retail locations in Australia, Europe, and Canada

Just yesterday, XRP has been added by the Netcoins as per its announcement that states, the company “is pleased to announce that it has listed Ripple, available for immediate purchase, via our OTC Private Brokerage Services business and our 21000+ retail locations in Australia, Europe, and Canada.”

The company develops software in order to make the purchase and sale of cryptocurrency accessible to the investors and mass audience. With over 21,000 retail locations in Canada, Europe, and Australia and an Over-The-Counter (OTC) trading desk, this certainly gives XRP adoption a boost.

Mark Binns, CEO at Netcoins commented,

“By adding more coins, we give our customers more options to buy and our resellers more ways to earn commissions. Ripple completes the top 3 cryptos in our portfolio and makes our platform more attractive, yet again, to other paying altcoins. Our engineering team is executing perfectly, adding Ripple one business day after Litecoin, giving our sales team even more ammunition to bring in LaaS recurring revenue coin listing deals as well.”

XRP is constantly adding new feathers to its hat. So as XRP price drops 93% low of its ATH, buy the dip and wait for the bulls!

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XRP Adoption & XRP Ledger Decentralization Hit High Notes in Complete Contrast with Price
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XRP Adoption & XRP Ledger Decentralization Hit High Notes in Complete Contrast with Price
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XRP price down in double-digits at $0.265 while its adoption takes a surge as Netcoins adds support, making it available in 21000+ retail locations in Australia, Europe, and Canada. Also, XRP Ledger takes a big step towards decentralization as Ripple dominance drops to 48%.
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About Sagar Saxena 127 Articles

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing.