Latest news with #XRPScan
Yahoo
5 days ago
- Business
- Yahoo
XRP Ledger Payments Count Falls to Lowest Since October as XRP Fails to Keep With Bitcoin
Activity on the XRP Ledger, a decentralized public blockchain designed for quick, cost-effective real-time transfer of XRP, fiat currencies and other digital assets, has slowed considerably since the first quarter. The number of payment transactions, representing the transfer of value from one account to another, dropped to 320,747 at press time, the lowest since October and significantly down from the average of over 1 million observed through March, April, and early May, according to data source XRPScan. The number of active addresses also fell under 10,000, also the lowest since October. Meanwhile, the number of XRP burned as fees dropped to a multi-month low of 1,500 XRP, coinciding with a slowdown in the creation of new accounts. Account creators need to deposit 1 XRP, which can be reclaimed following the deletion of the account. The slowdown follows an impressive first quarter during which payment transactions surged by an impressive 36% on a quarter-on-quarter basis, according to data tracked by Messari. Meanwhile, active addresses registered a 142% growth. The Messari report was optimistic about XRP Ledger's prospects, citing an increase in institutional adoption through strategic partnerships and acquisitions. In April, Ripple, which leverages the XRP Ledger to provide payment solutions, Hidden Road, making it the first crypto company to own and operate a global, multi-asset prime broker. Early today, Ripple's enterprise-grade RLUSD stablecoin received the green light from the Dubai Financial Services Authority (DFSA), opening doors for its use in the Dubai International Financial Centre (DIFC). More announcements could hit the wires next week during Ripple's XRP Ledger Apex 2025 event, which will take place in Singapore from June 10 to 12. Bitcoin, the leading cryptocurrency by market value, recently rose to new lifetime highs above $110,000, marking a surge of over 40% from its early April lows near $75,000. The stellar recovery also lifted the broader market higher, with XRP jumping from $1.60 to $2.60, a 62% increase, according to CoinDesk data. However, the rally in the payments-focused token has stalled since then, falling well short of its peak of around $3.40 registered in January when BTC set its then-lifetime peak of $109K. The divergence indicates that XRP is not benefitting from bitcoin's new highs the same way it did earlier this year. It could be a sign of waning demand for XRP, suggesting caution, as a potential downturn in Bitcoin could weigh heavily on XRP's price. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
XRP Ledger Foundation Identifies Backdoor Vulnerability in Software Library
The XRP Ledger Foundation has announced the identification of a significant security vulnerability within its official JavaScript library, which is utilized for interacting with the XRP Ledger blockchain. According to a blog post by blockchain security firm Aikido, sophisticated attackers compromised the library, introducing a backdoor designed to steal private keys and gain unauthorized access to crypto wallets. This JavaScript library plays a critical role, enabling developers to build applications and websites that interface with the XRP Ledger. Aikido emphasized the potential impact of this breach, stating it could affect hundreds of thousands of applications across the crypto ecosystem. In response to the threat, the XRP Ledger Foundation has published an updated software package to eliminate the compromised version of the library. The Foundation confirmed on April 22 that several projects within the XRP ecosystem, including XRPScan, First Ledger, and Gen3 Games, reported they were not affected by this security incident. Despite the news of the breach, the XRP token experienced a price increase of more than 3.5% during the U.S. trading day. Currently, XRP holds a market capitalization exceeding $125 billion and a fully diluted value of approximately $215 billion. Established in 2012, the XRP Ledger is one of the oldest blockchain networks, focusing on payments and decentralized finance (DeFi) applications tailored for institutional use. The token has gained traction in recent months, bolstered by a more favorable regulatory environment in the U.S. that may enhance institutional adoption. Additionally, recent developments include Coinbase listing futures contracts for the XRP token on its U.S. derivatives exchange, signaling a growing interest in the asset.
