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

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Інші статті, опубліковані 15 квіт. 2024 р.

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