DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripple-expands-into-defi-with-innovative-lending-protocol-on-xrpledger" rel="noopener noreferrer nofollow">Ripple Expands into DeFi with Innovative Lending Protocol on XRPLedger</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/xrp-ledger-transaction-activity-plummets-to-multi-year-low" rel="noopener noreferrer nofollow">Ripple</a>‘s cryptocurrency, <a href="https://en.bitcoinhaber.net/historic-moments-for-xrp-as-legal-victories-boost-its-market" rel="noopener noreferrer nofollow">XRP</a>, shows signs of recovery as its price climbs back above $0.50 after a recent low. In a significant development for Ripple’s DeFi aspirations, developers Aanchal Malhotre and Vito Tumas put forward a Native Lending Protocol on the XRPLedger. This initiative aspires to broaden Ripple’s DeFi capabilities, enabling direct lending and borrowing of digital assets on the platform.</p>
<h2 id="prospects-of-the-native-lending-protocol">Prospects of the Native Lending Protocol</h2>
<p style="text-align: justify">Should the protocol gain approval, it will enhance financial engagement, transparency, and operational efficiency on the Ripple <a href="https://en.bitcoinhaber.net/starknet-token-value-takes-a-dive-following-major-sell-off-and-airdrop-fluctuations" rel="noopener noreferrer nofollow">Blockchain</a>. Liquidity providers can earn interest through token deposits like XRP, wBTC, and wETH into a Lending Pool. Meanwhile, Pool Delegates will oversee these pools, with responsibilities to both entice capital and facilitate loans.</p>
<p style="text-align: justify">Loan terms between borrowers and Pool Delegates will be determined off-chain but recorded within the protocol. By doing so, it establishes fixed-term loans with clear conditions for interest, eliminating the need for external risk management strategies and capital protection measures for defaults.</p>
<p style="text-align: justify">The XRPLedger’s capabilities could entice developers to craft Decentralized Lending Applications (DApps), expanding Ripple’s ecosystem to encompass a variety of applications. Ripple’s foray into DeFi is poised to boost the currency’s adoption and open up new opportunities for participants in its network.</p>
<h2 id="xrp-s-price-trajectory-and-market-indicators">XRP’s Price Trajectory and Market Indicators</h2>
<p style="text-align: justify">XRP’s recent price fluctuation caught the market’s attention as it recovered from an 11-month low of $0.4188 to exceed $0.50. The cryptocurrency has been maintaining its stance above this pivotal support since February 2024. A potential fallback could find support at $0.4117 with resistance anticipated at the $0.5310 Fibonacci retracement level.</p>
<p style="text-align: justify">On the technical front, the Relative Strength Index (RSI) suggests a rebound from the oversold territory, while the MACD indicator hints at possible future price corrections for XRP.</p>
<h3 id="points-to-consider">Points to Consider</h3>
<ul>
 <li>Liquidity providers may find new income streams through interest in the proposed Lending Pools.</li>
 <li>Developers have the opportunity to innovate with DApps tailored to the XRPLedger.</li>
 <li>Key resistance and support levels could serve as indicators for XRP’s short-term market movements.</li>
</ul>
<p style="text-align: justify">Overall, Ripple’s move into DeFi with its lending protocol proposal could mark a transformational phase for the cryptocurrency, potentially leading to broader adoption and innovative uses within the financial technology sector.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ripple-expands-into-defi-with-innovative-lending-protocol-on-xrpledger" rel="noopener noreferrer nofollow">Ripple Expands into DeFi with Innovative Lending Protocol on XRPLedger</a></h5>

Ripple Expands into DeFi with Innovative Lending Protocol on XRPLedger

قائمة المحتويات

BH NEWS

المزيد من المقالات نُشرت في ١٥ أبريل ٢٠٢٤

Cardano Experiences Significant Increase in Smart Contract Activity

BlockDAG Dominates with $17M Presale and 20,000x ROI, Outshining Fantom & Avalanche

Cryptocurrency Stacks Down More Than 6% Within 24 hours

Doctor Doge to Surge 8,000% in Under 48 Hours as it Aims to Challenge SHIB and DOGE

Toncoin Enters the Top 10 Rankings, Surpassing Cardano & Dogecoin; Is XRP Next?

Fezoo’s potential 2000% surge attracts Fetch.AI & Lido DAO investors

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.