XRP Taking The Bull Run Amidst Parent Company Proposes Amendment For “Deletable Accounts”

The cryptocurrency market has been bullish since the beginning of the year. With Bitcoin surging more than 40% since January, many popular altcoins have followed the lead and made remarkable price movements. A combination of this correlative pump in prices and the corresponding maintenance of such pace has caused many to believe that the crypto market has eventually stumbled upon its long-awaited bull season.

While Ripple, the parent company of XRP has proposed to implement an amendment that will make it possible to delete accounts on the network, XRP, the native token is scoring higher. 

 XRP Lead With 11% In 24hours, What’s Next.?

XRP presently leads the pack of cryptocurrencies, including bitcoin which are showing great potentials, in terms of price movements for the coming weeks.

As a matter of pace and consistency, XRP is seen to have advanced steadily towards higher prices without much retracement coin presently sits above the $0.3 mark and is moving considerably towards greater milestones. At the moment, XRP is changing hands at $0.31, a figure representing a tremendous 11% from the closing price of Wednesday.

This price advancement seems to be expected. According to a Twitter user, David Belle, growth director at Trading view, an incredible 35% rise in price and continue for up to 5 days is not out of the question.

Nonetheless, many other XRP investors, enthusiasts and traders have voiced similar beliefs and analysis.

Ripple Announces Amendment To Delete Spam Accounts

The development was made public via an official announcement on Tuesday, i.e February 11, through which Ripple solicited the support of its community for possible implementation of the proposal. According to the official announcement,

“Today, one new feature proposed in the amendment process is Deletable Accounts and is waiting to acquire and retain an 80% supermajority, before it activates. This feature allows XRPL accounts to be removed from the ledger and recover most of the reserve locked in the accounts for spam prevention.”

XRP Community Expresses Future Concerns

Much of the community concerns were based on the trueness of the assertion that Ripple cannot by itself impose important decisions, but rather makes a show of involving every Ripple community member in the decision-making process. Taking into consideration some of the responses that followed the “deletable accounts” amendments, Ripple holders seem to be more concerned about the long term effects of such implementations.

While some community members expressed pessimism, others, however, maintained the positive side of thoughts,

Moreover, according to a Twitter user simply known as Eric Dadoun, who responded to the development,

“The XRPL amendment process will continue to ensure that new features are responsibly activated by the community in a measured way and protect against accidental network forks or malicious ones. As for who understands the XRPL, I’ll trust one of its architects. Thank you, David.

For XRP, Is $19 The Moon?

It’s fast becoming a viral belief that the crypto market has just begun a general price skyrocketing and the next stop for many, seems to be the moon!

However, XRP is not exempted from such beliefs. According to popular trader known simply as Bitcoin Macron on Twitter, the peak of this present bull market will see XRP changing hands at around $19.

In a nutshell, Ripple has also been seen undergoing major developments that may positively affect the price of XRP in the long run. Recently, it has announced few collaborations with big players in the banking sector and also giant payment gateways. 

Image Source – Flickr

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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