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Ripple (XRP) injective

XRP Makes Its Way To Injective Ecosystem As IIP-238 Passes

Scott Matherson
by Scott Matherson
2 years ago
·
Posted in Altcoins
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a momentous decision, the Injective community has voted in favor of IIP-238, a proposal that solidifies the integration of XRP into the expanding Injective ecosystem. This groundbreaking collaboration between Injective and Ripple heralds a significant milestone in the decentralized finance (DeFi) sector.

With resounding support from the community, the integration of XRP into the Injective ecosystem is set to unlock new avenues for crypto enthusiasts and pave the way for innovative use cases.

By strengthening trading pairs and enhancing liquidity for both XRP and USDT, Injective continues to assert its position as a leading platform in the realm of decentralized exchanges.

Related Reading: Binance Debuts New Feature To Allow Users Create Multiple Deposit Addresses

Injective Community Embraces XRP Integration, Propelling Expansion

The Injective community, renowned for its active participation and unwavering dedication, has demonstrated its belief in the immense potential of XRP within the Injective ecosystem.

“The Injective community has overwhelmingly voted YES to bringing $XRP into the ecosystem with IIP-238 passing just hours ago,” Injective said on Twitter.

Ripple (XRP) price chart from TradingView.com (Injective)

XRP price sitting at $0.75 | Source: XRPUSD on TradingView.com

The community’s overwhelming support for IIP-238 solidifies the seamless integration of XRP into Injective’s expanding repertoire.

By seamlessly integrating XRP into the Injective ecosystem, both projects endeavor to foster accessibility and innovation in the DeFi sector, in a bid to change how enthusiasts interact with cryptocurrencies and propel the global adoption of blockchain technology.

XRP’s Resurgence And Regulatory Progress Ignite Market Interest

The decision to include XRP in the Injective ecosystem comes at a time when the cryptocurrency has witnessed a remarkable resurgence.

Following the recent favorable ruling in the SEC v. Ripple case, which declared XRP as not being a security, market interest has soared. This legal victory has prompted several major exchanges to relist XRP trading pairs, marking a significant endorsement of its legitimacy.

The proposal to introduce the XRP/USDT perpetual pair on Injective aligns perfectly with market demands and the platform’s commitment to fostering composability with external assets and protocols. 

By providing traders with an opportunity to engage with XRP within the Injective ecosystem, the platform aims to meet the growing appetite for XRP and contribute to its liquidity.

Related Reading: Layoffs Not The Only Cost-Cutting At Binance As Employee Benefits Follow Suit

Injective Protocol distinguishes itself in the decentralized exchange landscape through its innovative approach. Unlike traditional AMM-based exchanges, Injective adopts an order book model, mirroring the efficiency and transparency of centralized exchanges.

This unique approach ensures seamless trading experiences and bridges the gap between traditional finance and decentralized exchanges.

The partnership between Injective and XRP epitomizes their shared commitment to accessibility and innovation within the DeFi sector.

Featured image from Exness, chart from Tradingview.com
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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