XRP Community Anticipates An Incredibly Favorable Price With The Impending Release Of Smart Contracts On XRPL

The XRP community continues to be quite optimistic about the Ripple price despite the current unfavorable market conditions and the ongoing Ripple lawsuit.

Jimmy Vallee, CEO of Valhil Capital, and his buy-back price forecast of $35,000 for the seventh-largest cryptocurrency are at the heart of debate in the Ripple community. Instead, Ripple user “IanG” thinks the currency might hit $50,000.

The predictions were surely met with some measure of skepticism. Crypto user “Jon Good,” also referring to Valhil Capital’s CEO’s comments, tweeted in response:

“For all of you saying this isn’t possible. Please research ISO20022 and the new payment ecosystem that is coming to our globe. He (Jimmy Vallee) is simply saying for XRP to be the cross-border payment token that it is, each coin must be equivalent to the assets that it is moving.”

He added:

“If this is the case, Ripple must be set at a price. Market cap and bull/bear runs won’t matter anymore for Ripple. I’m not believing it till I see it, but I’m hopeful based on my extensive research on what is coming in the new ecosystem.”

Despite how slowly the Ripple SEC litigation is moving along, optimism is still present due to more XRPL use cases. According to a recent announcement made by Ripple partner Peersyst Technology, Colombia’s first National Land Registry has begun operations on the XRPL blockchain.

On XRPL, smart contracts will be introduced

Wietse Wind, the creator of XRPL, claims that Ripple Ledger now has a testnet that supports smart contracts. According to Ripple Ledger Labs, Hooks Testnet V2 was released a few months ago. The Hooks Builder, a web-based development environment that enables developers to create, test, deploy, trigger, and troubleshoot Layer 1 smart contracts on XRPL, was also announced.

According to a series of tweets by Ripple Ledger Labs, the endeavor is the culmination of work that started two years ago. Its goal is to make XRP Ledger compatible with smart contracts, which includes this activity.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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