XRP continues big pump, a review of 9 associated ecosystems' already launch coin projects

Original authors: flowie, ChainCatcher

Original text editor: Nianqing, ChainCatcher

The situation of speculating in new projects instead of old ones is reversing. The old-school public chain Ripple's coin XRP continues to have a big pump, with a rise of over 360% in the past month. Today, its Market Cap has surpassed USDT and SOL, becoming the third-largest cryptocurrency. In addition, XRP's Market Cap has also surpassed Pinduoduo, China Life Insurance, and Citigroup, ranking 138th in global assets.

According to the RootData heat trend, the heat of projects related to the XRP ecosystem Token is rapidly rising, and ChainCatcher has made a brief inventory of projects related to the XRP ecosystem.

XRP Ledger (XRPL) ecosystem project

XRP Ledger (XRPL) is a public chain launched by Ripple in 2012. In recent years, Ripple has been actively exploring the development of XRPL ecosystem.

Ripple has expanded the programmability of the XRP ledger this year and plans to launch the XRPL EVM Sidechain in 2025 to further expand the Ripple ecosystem.

Ripple's stablecoin RLUSD, which is set to be launched, has undergone Beta testing on the XRPL on-chain this year. In addition, Ripple has expanded its collaboration with the UK encryption trading platform Archax this year, with plans to bring hundreds of millions of dollars in tokenization of real-world assets to XRPL in the next year, aiming to make XRPL one of the leading blockchains for RWA tokenization.

According to RootData statistics, there are currently 10 projects in the XRPL ecosystem, with Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo being the 6 projects exclusively on the XRPL mainnet.

Among them, Evernode, Sologenic, and Xahau Network have already launched coins. The token prices of Evernode and Sologenic have increased by more than 3 times and 5 times respectively in the past month.

1. Evernode (EVR) - Customized Layer2

Evernode was founded in 2021, and is a permissionless, Decentralization layer 2 network specifically designed to host highly flexible, highly scalable dApps, which act as customized mini-blockchains ("AppChains"), enabling developers to build and scale based on their choice of language, functionality, and geographical location, without needing to invent their own Consensus Mechanism.

EvernodeTokenEVR was launched in February this year. As of the time of writing, the EVR price is currently at $0.2952, up 18% in the past 24 hours, and has surged 336% in the past month. The Market Cap is $7.38 million, and the FDV has reached $21 million.

2. Sologenic (SOLO) - tokenization ecosystem

Sologenic is a tokenization ecosystem that helps users to invest, trade, and tokenize assets such as stocks, ETFs, and Fiat Currency on the XRP Ledger.

As of the time of writing, SologenicTokenSOLO is currently trading at $0.5858, up 8.5% in the past 24 hours, and up 509% in the past month. The market capitalization is $232 million, with a fully diluted valuation of $232 million.

3, Xahau Network (XAH) - programmable intelligent Block chain

Xahau Network is an intelligent blockchain with account-based programmability. Xahau introduces IOU Token custody and PayChannels as unique features, enhancing transaction flexibility and security. Hooks are native Smart Contracts on the Xahau network.

As of press time, Xahau Network TokenXAH is currently trading at $0.1159, up over 80% in the past month, with a FDV of $68.89 million.

XRP Ledger (XRPL) technical partner

4. Coreum (COREUM) - Launching XRPL cross-chain bridges

Coreum, developed by the Sologenic Development Foundation, was launched on December 20, 2021. It is a Layer1 blockchain built on the Tendermint core BFT. In March of this year, Coreum launched an upgraded version of the XRPL bridge, allowing users to seamlessly transfer XRP to Coreum, the Cosmos ecosystem, and dozens of networks built on the Ethereum Virtual Machine.

As of press time, CoreumTokenCOREUM is temporarily reported at $0.3186, up 19% in 24 hours and 423% in nearly a month, with a market capitalization of $123 million and a FDV of $174 million.

5. Evmos/ Tharsis Labs (EVMOS) - XRPLSidechain technology provider

In May of this year, Ripple partnered with Evmos to develop the XRP Ledger EVM Sidechain, which will be built using evmOS technology. evmOS is a modular and customizable technology stack provided by Evmos, which leverages Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 enterprises.

As of the time of writing, the price of Evmos TokenEVMOS is currently at $0.03, with a 5% pump in the past 24 hours, only one with a 198% pump, Market Cap of 19.14 million US dollars, and FDV of 32.64 million US dollars.

6. Axelar (AXL) - Exclusive Cross-Chain Interaction Protocol for XRPL Sidechains

In June of this year, the XRP Ledger announced the upcoming launch of a sidechain called "XRPL EVM sidechain", Ripple and the XRP community are committed to bringing new programmability to the XRPL development ecosystem through XRPL EVM Sidechain (already in progress) by 2025, including Smart Contracts, and exploring native capabilities on the XRPL Mainnet.

And use Axelar as the exclusive Cross-Chain Interaction protocol. Axelar will enable users to convert XRP into wrapped XRP (eXRP) as the native token for gas fees on Sidechains.

As of the time of writing, the price of AXL token is $0.99, which has pumped 44% in the past month. AXL market capitalization is $853 million, with FDV of $1.17 billion.

7. Band Protocol (BAND) - RPL Oracle Machine main provider

Band Protocol is a Cross-Chain Interaction data Oracle Machine platform, aimed at building high-quality web3 development product suites. At the end of 2023, Band announced to provide Oracle Machine price feeding services for XRP Ledger Mainnet and its EVM Sidechain.

As of the time of writing, the BAND Token price is temporarily reported at $1.8, up 76% in the past month, with a market capitalization of $289 million and a FDV of $289 million.

Other

8. Stellar (XLM) - Another Payment Network founded by Ripple co-founders

Jed McCaleb, the founder of Stellar, was also a co-founder of Ripple. In 2013, due to differences in the proposed development direction of Ripple, Jed McCaleb left Ripple and founded the payment platform Stellar.

The price of StellarTokenXLM is often highly correlated with XRP. As of the time of writing, the price of XLMToken is temporarily reported at $0.5482, up 9% in the past 24 hours, with an increase of over 490% in the past month. The Market Cap is $16.05 billion, and the FDV is $27.43 billion.

9. The Root Network (ROOT)/Futureverse - A metaverse network associated with XRPL

The Root Network is a decentralized blockchain network optimized for Metaverse applications, games, and experiences. The developer of The Root Network, Futureverse, secured a $54 million investment from 10T Holdings and Ripple in July 2023.

Futureverse adopts the XRPL Non-fungible Token standard, using XRP as its Gas Token on the Root network, and integrates with the XRPL DEX to provide network Liquidity.

As of press time, The Root NetworkTokenROOT is currently trading at $0.0433, up 160% in the past month, with a market capitalization of $62.63 million and a FDV of $51.95 million.