$XRP Is Biggest Percentage Gainer Among Top 50 Cryptocurrencies After 16% Surge

On Tuesday (March 21), XRP is outperforming Bitcoin and all altcoins among the top 50 cryptocurrencies by market cap with a nearly 18% gain versus USD.

According to data from TradingView, on crypto exchange Bitstamp, currently (as of 4:35 p.m. UTC on March 21) XRP-USD is trading at around $0.44057, up 15.82% in the past 24-hour period. This is the highest the $XRP price has been since November 8, 2022.

Earlier today, Messari posted a Twitter thread discussing the XRP Ledger (XRPL), emphasizing its resilience despite increased scrutiny from U.S. regulators. In summary, Messari wrote:

The XRPL, supported by Ripple, is designed to provide digital payment infrastructure for both individuals and financial entities such as central banks. The XRPL uses a Proof-of-Association (PoA) consensus algorithm and relies on nodes running the “rippled” open-source software. The ledger’s features include Issued Currencies (IOUs), Authorized Trust Lines, and a central limit order book. The XRPL has two types of keys: Master key pairs and Regular key pairs. Ripple has also developed a private ledger for creating and managing Central Bank Digital Currencies (CBDCs) and stablecoins. XRP, the native cryptocurrency of the XRPL, serves various use cases, including wallet reserves, Trust Lines, and transaction fees. With a total supply of 100 billion, XRP’s circulating supply has seen an inflation rate of around 5.4% since 2021.

Yesterday, according to Jason Tigas, a developer advocate at Ripple, the winner of the XRPL Hackathon at Paris Blockchain Week was the team behind “XRPL Solvency Proof,” which is “a way to prove solvency without revealing wallet address or transaction history (ie, Renting, Loans, Investments, Insurance, etc.).”