XRP ranks among most used smart contracts
According to WhalesStats data, the usefulness of XRP for whales has increased, as XRP ranks among the most used smart contracts among the top 1,000 BSC whales in the last 24 hours. Simply defined, a whale is someone who owns a piece of cryptocurrencies or is otherwise a large holder.
XRP is presently trading at $0.834, up 1.60% in the last 24 hours and 6.02% in the past week. The recent spike in XRP utility among whales follows after Multichain announced XRPL integration.
Multichain has announced that it supports XRP Ledger (XRPL) for cross-chain connection with both EVM and non-EVM compliant blockchains. Hundreds of thousands of DeFi users will be able to seamlessly move assets between XRP Ledger and other blockchains through integration with XRP Ledger.
With Ripple’s technical assistance, Multichain will facilitate the cross-chain transfer of XRP, the native digital asset of XRP Ledger. Furthermore, ETH, MATIC, AVAX, FTM, USDT, USDC, FRAX and other assets will be directly transferred to XRP Ledger.
Over the past year, Ripple has made progress in the availability of its ODL service. On schedule, the company launched its first ODL corridor in the market in Japan, in partnership with SBI Remit, and acquired a 40% stake in Tranglo in Malaysia to expand the availability of its ODL service.
After a successful launch, Tranglo is now expanding its ODL reach across 25 corridors so that providers can process cross-border payments in real-time—without having to pre-fund.
XRP Price Action
XRP price looks set for the next move as it consolidates around the $0.83 level. The appearance of a double doji on its daily chart could suggest a major price reversal. The doji is a transitional candlestick formation, signifying equality or indecision between bulls and bears.
A decisive move above $0.91 will confirm a resurgence of buyers and propel XRP to $1. On the contrary, significant support lies near $0.77 if the bulls rescind.
In recent updates to the Ripple case, the United States Securities and Exchange Commission has filed a new motion seeking court permission to remove some of the notes from its meetings with third parties. The plaintiff argues that the notes are protected by deliberative process privilege (DPP), a common law principle that protects internal agency information.
