Ripple’s big XRP book is associated with the green hole for transverse movements
Ripple’s Ledger XRP (XRPL) has just taken a big step towards playing with other blockchains. The company has announced today that it is part of Wormhole, a large transversal protocol, to facilitate the movement of assets and data between networks. The connection will work on the Mainnet of XRPL and its next Ethereum Virtual Machine (EVM) Sidechain – something that Ripple has been teasing for some time now.
What does that really do? Well, according to Ripple, it will allow developers to draw messages, change tokens and even publish new assets on different channels. It is not exactly revolutionary – many projects are pursuing transversal solutions – but for XRPL, it is a way to remain relevant as the biggest players like Ethereum and Solana dominate the conversation.
Why the Green Trou counts
Wormhole already has heavy strikers using its technology, like Blackrock and Apollo. This is probably why Ripple succeeded in victory for “business funding” rather than simply cryptographic traders. David Schwartz, the Ripple CTO and one of the creators of XRPL, frankly put it: “Cross compatibility is essential for the real mass adoption.” It is not wrong, but it should be noted that “mass adoption” has been fasting for years now.
However, integration could make life easier for institutions to tarnish in token workers. Imagine a bank issuing a token on XRPL but needing it to go to Ethereum for a job – that would let it happen without a disorderly bypass solution.
A month busy for Ripple
June was not silent for Ripple. Earlier this month, XRPL began supporting the Stablecoin USDC de Circle de Circle, which is a big problem for liquidity. Then, the Dedi Ondo Finance platform added XRPL to its list of networks for its products supported by the Treasury. Oh, and this EVM compatible scale? Ripple says that he is still on the right track for a launch of Q2, although the deadlines in crypto tend to be … flexible.
The integration of green hole could be the most practical decision to date. It opens connections to more than 35 blockchains, which means that developers can create applications that interact with smart contracts on other networks. It is useful, but if that will really bring new users is another question.
The bottom line
Ripple clearly tries to position XRPL as more than a simple payment rail. With the Stablecoins, institutional challenges and now transverse bridges, he hides his bets. The question of whether it all moves the needle for the price of XRP – or real use – is someone’s assumption.
But for the moment, at least, the big book has some additional tips in its sleeve.
* Not financial advice, of course.
