Bitcoin, Ethereum, and most major cryptocurrencies are doing well today. They have all recorded small but steady gains in the past 24 hours. The only coin among the top ten that isn’t following the trend is Ripple’s XRP, which has slipped by about 1%.
XRP has been weak for a while now, especially after touching a high of $3.66 back in July. But the coin might not stay down for long. There’s something new happening within the Ripple community that could help boost its value soon.
A validator on the XRP Ledger has proposed a change called the Batch Amendment, or XLS-56. This proposal has caught the attention of many in the Ripple ecosystem. If approved, it would let users make several transactions at once, like minting NFTs, sending payments, and trading digital collectibles, all in a single go.
This means users could trade NFTs directly with one another, similar to a barter system, without needing a middleman. The update also adds what’s called “atomic transactions,” which simply means that all parts of a transaction either happen together or not at all. This helps avoid errors or partial failures.
At the moment, around 68% of XRP validators support the amendment. It needs 80% approval to go live. If it gets through, this change could bring more activity and trading to the XRP Ledger, which might help push XRP’s price higher.
Right now, XRP is trading near $2.61. It’s still holding above its 200-day moving average, which is a good sign. Even though it dropped 1% in the past day, it gained over 10% last week. The technical charts suggest that buyers are starting to take control again.
If XRP can rise above $2.69 soon and stay there, it might climb further towards $2.80 and even $3.40. But if it fails to hold above that level, it could fall back to around $2.35. For now, traders are keeping a close eye on whether this new blockchain update can help XRP bounce back stronger.
