The XRP Ledger (XRPL) has become the fifth-largest cryptocurrency by market capitalization, reaching $27.8 billion in Q3 2023. Its market cap has grown by 59.9% year-to-date and 11.9% quarter-over-quarter. Around 10 million XRP tokens have been burned, but to compensate, 1 billion XRP is vested to Ripple monthly. The XRPL does not provide rewards or transaction fees to validators, instead incentivizing them through network decentralization. The Proof-Of-Authority consensus algorithm and unique node lists contribute to the network’s resilience and security. The XRPL’s growth is attributed to market capitalization gains, regulatory victories, and advancements in network features. The strong upward trend of XRP has delivered significant returns over various time frames.
AI Sentiment: Positive
