Xahau, the sidechain of the XRP Ledger, has recently introduced an exciting new feature that enhances its capabilities and opens up new possibilities. The XRP community is rejoicing over this release, which is known as Xahaud 2024.3.12-release+790, ships XLS-55d, and is called “Remit: Atomic Multi-Asset Payments for XRPL Protocol Chains.” This feature brings new functionalities to the network, building upon existing ones and providing endless opportunities.
The latest update to the XRP Ledger sidechain, Xahau(d) build 790, introduces a groundbreaking payment method called Remit. This innovative system allows users to send multiple currencies and tokens simultaneously in a single transaction. Xahau(d) build 790, which ships XLS-55 “Remit,” has been released to the public.
What sets Remit apart is its atomic nature, guaranteeing that the entire payment will either succeed completely or fail, eliminating the risk of partial deliveries. Designed with both retailers and everyday users in mind, Remit offers a secure and reliable push payment experience, ensuring that payments go through no matter what. This paves the way for a more efficient and user-friendly financial experience that has the potential to revolutionize the existing payment system.
The introduction of Remit is a significant development for Xahau, the XRP Ledger, and the broader ecosystem. However, this is not an isolated event, as the ledger has been witnessing increased developer activity, user adoption, and technological advancements.
In addition to the Remit feature, RippleX has announced an update to the highly anticipated XLS-40 amendment, which is expected to integrate Decentralized Identifiers (DIDs) based on World Wide Web Consortium (W3C) standards into the XRP Ledger. Furthermore, Circle is considering expanding USDC to the XRP Ledger, indicating potential growth in the stablecoin’s versatility. This could be mutually beneficial, especially considering the XRPL’s capability to handle a high number of transactions per second.
It is evident that the XRP Ledger has started the year on a strong note and is poised to dominate the space. This could significantly impact the utility token, XRP, which has faced challenges in maintaining its bullish momentum due to the ongoing Ripple v. SEC lawsuit. However, with growing support for the network, the demand and utility of XRP are expected to soar.
As mentioned previously, 2024 is anticipated to be a bullish year for XRP. Alongside network expansion, factors such as the possibility of an XRP ETF, the overall bullish wave led by Bitcoin, institutional interest, and the potential of Ripple going public could drive prices to new all-time highs.
At the time of writing, XRP is trading at $0.6046, experiencing a 3% drop. However, the bulls are likely to defend the $0.60 support level and aim to rally and reclaim the $0.70 mark in the near future.