Ripple’s XRP token has witnessed a remarkable surge of 2703% in tokens on the Coreum Network, sparking anticipation of a potential price surge to $3. The recent announcement of Ripple’s expansion of its On-Demand Liquidity (ODL) corridor has had a significant impact on the XRP ecosystem, resulting in a notable increase in XRP token volume. This expansion is part of Ripple’s broader strategy to enhance its ODL service, which utilizes XRP as a bridge currency for cross-border payments.
The integration of a bridge connecting the XRP Ledger (XRPL) and Coreum has greatly enhanced asset movement and accessibility. As a result, the number of XRP holders on Coreum has increased, with over 1.6 million XRP tokens circulating within the Cosmos ecosystem. This surge in tokens has positioned Ripple’s XRP for a potential price shift, driven by an imminent supply shock.
The enhanced network interoperability and increased liquidity pools on the Pulsara decentralized exchange have further boosted XRP’s appeal. With over 57,191 tokens bridged on Coreum and 1.2 million tokens active in liquidity pools, speculation about XRP’s future in the community has intensified.
Market dynamics and ongoing legal trials, such as the Ripple-SEC lawsuit and the Bitcoin halving, are closely monitored by analysts. These events have implications that could potentially drive XRP’s price towards the anticipated $3 mark. Blockchain expert Zach Rector emphasizes the significance of these developments, highlighting the growing role of bridges, DeFi, and the resulting increase in XRP burn rates.
Despite facing regulatory challenges and the SEC lawsuit, Ripple Labs continues to aggressively expand its ODL customer network, fueling market expectations. Analysts and investors speculate a potential surge in XRP’s price, with predictions suggesting a target of $2 in the near term. Despite experiencing a minor decline of 1.12% in the past day, XRP is currently trading at $0.6111, showing a gain of 4.16% over the past week.
