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The XRP Ledger (XRPL) is close to hitting a monumental milestone, this time in terms of the number of ledgers closed on the protocol. Notably, XRPL is nearing its 100 millionth ledger version since launching in 2012.
This milestone highlights the resilience, efficiency, and expanding use of XRPL over the years.
This update coincides with an illustration of how Automated Market Makers (AMMs) on the XRPL adjust prices during trades.
XRP News: XRPL Moves Towards 100 Million Ledger
According to XRP Scan, the XRPL ledger count has surpassed 99 million and is at 99,825,596. The blockchain now nears the 100 millionth ledger milestone, with only 174,044 ledgers remaining.
In a celebratory post, XRP Scan shared an image that showed 17.1 transactions per second (TPS) and over 14.2 million XRP burned in fees to deter spam. These records further demonstrate the network’s efficiency and security.
At the current pace, the 100 millionth ledger milestone is imminent, potentially within hours or days. This milestone emphasizes the uptime and decentralization of XRPL.
Ledger count also correlates with the real-world utility of the XRPL. So far this year, the network has seen amendments like the fixAMMv1_3 and proposals for batch transactions.
Additionally, the XRP price has stabilized between $2 and $3 this year, partly fueled by increased activity.
Generally, the 100 millionth ledger milestone is a feel-good moment for the XRP community. It symbolizes endurance amid regulatory challenges and competition from other blockchains.
As XRPL approaches a 100 million-ledger milestone, Ripple, its community, and developers are focusing on other areas of expansion.
Per an XRP news, Ripple recently announced it has completed the acquisition of Hidden Road and launched Ripple Prime. Through this acquisition, Ripple became the first crypto company to run a global, multi-asset prime brokerage.
Why XRPL AMMs are a Game-Changer
Taking to the X platform, Max Avery, CBDO & Principal at Digital Ascension Group, gave an insightful breakdown of how AMMs work on XRPL.
He also highlighted why they are a game-changer compared to Ethereum-style AMMs.
Avery began by describing what AMMs are, noting that they begin with a balanced pool of assets.
“When a trade happens, one side decreases while the other increases. This shift changes the ratio, triggering a price adjustment,” Avery noted.
He added that the AMM recalculates based on the new balance, and every trade instantly updates the price.
Avery also pointed out a major difference between XRPL and Ethereum AMMs. According to him, XRPL AMMs stand out from Ethereum because they integrate AMMs directly at the protocol level.
This differs from Ethereum, which relies instead on smart contracts, resulting in slower and less secure transactions.
With XRPL AMMs, blocks are confirmed in approximately 3-4 seconds, and fees are lower.
Is XRP Set for New ATH?
Amid the bullish XRP news, the latest developments with XRPL and the broader Ripple ecosystem have led the market to shift its attention to XRP.
Investors are watching to see if the developments will fuel a bullish rebound for XRP. Some even anticipate a move towards a new ATH.
For now, the XRP coin has yet to experience a major bullish move. In the past 24 hours, the XRP coin has decreased in value by 0.65% to $2.63.
However, market activity is relatively moderate as indicated by a 7.8% surge in trading volume to $5.03 billion.
In addition, analysts have predicted $3.15 as the next target, following increasing institutional adoption.
For example, Ripple recently expanded its digital asset custody services into Africa through a new partnership with Absa Bank.
