The XRP Ledger (XRPL) is taking huge strides to create a more interconnected blockchain future. Recent integrations are further increasing XRPL’s utility. Combined with Ethereum Virtual Machine (EVM) compatibility and the Wormhole cross-chain messaging protocol, exhilarating new opportunities are just around the corner. These moves are intended to lure Ethereum developers, allow for better cross-chain asset transfers, and encourage a healthier DeFi ecosystem. If you’ve been paying attention to the Web3 world, you’ll see that these combinations are a sign of the times. By doing so, they are changing XRPL’s place in the emerging multi-chain ecosystem. That’s why we created GreedyChain.com to help you understand it.

XRP News Today: Ripple Introduces EVM Sidechain for Ethereum Compatibility

Ripple’s strategic utilization of an EVM sidechain in tandem with the XRP Ledger is a huge deal. This means developers used to Ethereum’s programming language Solidity can now deploy all of their EVM-based applications natively on XRPL. This recent action opens the door for a wave of new decentralized applications (dApps) to develop on XRPL. Developers are finally able to take advantage of all its speed, scalability, and low transaction costs. It would be similar to constructing a free bridge between New York City and Philadelphia, letting traffic and commerce easily flow in and out of both important cities.

Overview of the XRP Ledger EVM Sidechain

The XRPL EVM Sidechain gives developers a flexible and familiar environment in which to innovate. It allows them to leverage all the amazing tools and frameworks that they’re already used to leveraging from the Ethereum ecosystem. This makes for a lower learning curve and faster development cycle. Consider it a little “plug and play” solution for Ethereum developers who would like to spread their wings to a new blockchain.

Additionally, the native token of XRPL, XRP, is now able to freely flow into the new EVM sidechain. This increases interoperability tremendously. It opens up a very clear on-ramp for XRP holders to participate in the growing DeFi landscape that will exist on the sidechain. This is important because it unlocks many new use cases for XRP and increases its utility as a whole.

Benefits of Ethereum Compatibility

Ethereum compatibility brings a host of benefits to the XRPL ecosystem:

  • Attracts Ethereum Developers: The familiar environment makes it easier for Ethereum developers to build on XRPL.
  • Expands the dApp Ecosystem: More dApps translate to more use cases and increased activity on the XRPL.
  • Enhances Interoperability: Seamless asset transfers between XRPL and Ethereum become a reality.
  • Boosts Liquidity: Increased activity and asset flow lead to greater liquidity within the XRPL ecosystem.

Evaluating Top Cryptocurrencies to Invest In

Here's a quick look at some of the top cryptocurrencies to consider, keeping in mind that this is not financial advice and thorough research is always recommended:

1. Bitcoin

Bitcoin (BTC) remains the king of cryptocurrencies. Its fixed supply makes it a powerful store of value. Because it is already so widely adopted, many other investors consider it a hedge against inflation. Whatever the future holds, despite its wild price swings, Bitcoin’s long-term history is a remarkable success story.

2. XRP

XRP, the native token of the XRP Ledger. Now with the recent EVM compatibility and Wormhole integration, XRP’s utility is continuing to grow, and it’s one of the most interesting assets to keep an eye on. Its primary distinguishing factor is its focus on cheap and real-time transactions.

3. Chainlink

Chainlink is a decentralized oracle network that connects real-world data to smart contracts. This is imperative for DeFi applications and other blockchain-based systems that need immutable, trustworthy facts upon which to build their operations.

4. Ethereum

Ethereum (ETH) is the second-largest cryptocurrency and the current dApp leader. Its current migration to Ethereum 2.0 will bring greater scalability and energy efficiency, tackling much of what has previously held it back.

5. Solana

Solana is a high-performance blockchain that boasts lightning speed and ultra-low transaction costs. Since then, it has become the predominant platform for DeFi and NFT projects. It has run into recent concerns over the stability of its network.

6. BNB

Binance Coin BNB is the native token of the Binance centralized exchange. It allows users to access multiple use cases inside the Binance ecosystem, such as discounted trading fees and participation from token sales.

7. Uniswap

Uniswap (UNI) is one of the largest decentralized exchanges (DEXs) on Ethereum. It’s decentralized, which means users can directly trade cryptocurrencies without having to trust an intermediary. Uniswap has emerged as one of the major forces behind the DeFi revolution.

8. Aptos

Aptos (APT) is a relatively new blockchain whose technology hopes to solve scalability and security issues. It’s based on a new programming language called Move, and has garnered a lot of venture capital investment.

9. Sky

Sky is a relatively unknown or obscure cryptocurrency. It is important to exercise extreme caution and conduct thorough research before investing in any unfamiliar or unproven cryptocurrency project.

10. Zcash

Zcash, like Monero, is a privacy-oriented cryptocurrency that employs cutting-edge cryptographic technology to keep its users’ identities anonymous. This makes it especially popular among those who are deeply concerned about financial privacy.

11. Sui

Sui (SUI) Sui is another upstart blockchain that follows the path of scalability and security. It’s the data-centric approach that has not only revolutionized transportation planning but attracted massive interest by investors.

12. OKB

OKB is the native token of the OKX exchange. Like BNB, it offers utility within the OKX ecosystem.

Best Cryptocurrencies for New Investors

Aside from that, for beginners still getting their footing in the space, new investors should focus on safer bets first, such as Bitcoin and Ethereum. These digital assets have a strong history of performance and are much more stable than most of the smaller altcoins. Diversification is key to managing risk. Only allocate a small percent of your portfolio to crypto. Invest more money as you start to feel comfortable in the market.

Long-Term Investment Options in Cryptocurrency

When considering long-term cryptocurrency investments, it's important to focus on projects with strong fundamentals, a clear use case, and a dedicated team. Bitcoin and Ethereum still serve as a valuable landing point for long-term holders because of their strong network effects and defensive incumbency. Chainlink, XRP, and Solana are other projects that might provide great long-term value. As always, do your own due diligence and consider your own risk profile before making any investment.

Ripple too has launched a regulated stablecoin, Ripple USD (RLUSD). Introducing $400 million liquidity spanning both XRPL and ETH chains, it deepens market stability and enriches utility across the ecosystem. Stablecoins are a key underpinning of DeFi. Because DeFi is built mostly on trading, lending, and borrowing, stablecoins serve as a backbone for a less volatile asset.

The XRPL ecosystem's support for real-world asset (RWA) tokenization, exemplified by Dubai's first real estate tokenization platform, further expands its potential applications. RWA tokenization allows for fractional ownership of these real-world assets like real estate, art, commodities, etc. This innovation opens up these investments to a much wider pool of accessible capital, including pension funds, endowments, and individual investors.

Criteria for Selecting Top Cryptocurrencies

Costs of going isolated As interoperability becomes more important, so does the cost of projects that go isolated. With XRPL’s recent integration with Wormhole and the EVM sidechain incoming, XRPL is well positioned to compete in the multi-chain future. This infrastructure enables DeFi platforms on XRPL to accept assets from other chains. It guarantees secure payment settlements, which helps create a more unified and convenient ecosystem.

  • Market Capitalization: A higher market capitalization generally indicates greater stability and liquidity.
  • Use Case: Does the cryptocurrency solve a real-world problem or offer a unique value proposition?
  • Technology: Is the underlying technology sound and scalable?
  • Team: Is the team experienced and dedicated?
  • Community: Is there a strong and active community supporting the project?
  • Adoption: Is the cryptocurrency being adopted by businesses and users?
  • Regulatory Landscape: How is the cryptocurrency being treated by regulators?

Purchasing cryptocurrency may feel intimidating, but once you get the hang of it, the process is pretty simple. Here's a beginner's guide to get you started:

A Beginner's Guide to Purchasing Cryptocurrency

The cryptocurrency market is extremely dynamic, and there is no simple answer to the question of which cryptos you should be buying. Beyond all that, the XRPL’s recent moves to enable EVM compatibility via sidechain and the Wormhole integration are things you should keep your eyes on. According to the Foundation, these new developments improve XRPL’s utility, lure developers, and encourage a more connected DeFi ecosystem built on XRPL.

Step-by-Step Process to Buy Crypto

  1. Choose a Cryptocurrency Exchange: Select a reputable cryptocurrency exchange like Coinbase, Binance, Kraken, or Gemini. Consider factors like fees, security, and supported cryptocurrencies.
  2. Create an Account: Sign up for an account on your chosen exchange and complete the verification process. This typically involves providing personal information and uploading identification documents.
  3. Fund Your Account: Deposit funds into your account using a bank transfer, credit card, or debit card. Some exchanges also accept cryptocurrency deposits.
  4. Place an Order: Once your account is funded, you can place an order to buy cryptocurrency. Choose the cryptocurrency you want to buy, enter the amount, and select your order type (e.g., market order or limit order).
  5. Secure Your Cryptocurrency: After purchasing cryptocurrency, it's important to store it securely. Consider transferring your cryptocurrency to a hardware wallet or a secure software wallet.

Recommended Apps for Buying Crypto

As David Schwartz, Ripple’s CTO, passionately notes in this video, this integration is just the beginning of an exciting journey. In the process, it will achieve improved interoperability, increased programmability, and widespread utility. We believe the combination of the XRPL EVM Sidechain and Wormhole integration will massively expand the developer pool able to bring Ethereum-based apps to XRPL. Doing so unlocks an entire realm of amazing potential.

  • Coinbase: A popular choice for beginners, offering a simple interface and a wide range of supported cryptocurrencies.
  • Binance: A leading exchange with a vast selection of cryptocurrencies and advanced trading features.
  • Kraken: A reputable exchange known for its security and regulatory compliance.
  • Gemini: A regulated exchange that prioritizes security and transparency.

Conclusion: Which Cryptos Should You Buy Now?

Wormhole will be integrated as the bridge infrastructure of choice for the XRPL, enabling access to more than 30 other blockchain networks. This is an incredibly important development in continuing to pave a path toward an increasingly multi-chain future. Now, assets and other data can move fluidly between different blockchain environments. As of today, the XRPL has over 6 million users. This integration provides greater liquidity and creates opportunities for more novel applications from payments to DeFi to RWA tokenization.

As always, make sure to do your own homework and talk to an investment professional before making any investment. The cryptocurrency market is extremely volatile, so it’s crucial that you do your own research and know the risks. If you have a plan, think long term, and have foresight, investments into cryptocurrency can be very rewarding.

Wormhole will serve as the core bridge infrastructure for the XRPL, providing access to over 30 other blockchain networks. This is a significant step towards realizing the vision of a truly multi-chain future, where assets and data can flow seamlessly between different blockchain ecosystems. The XRPL has 6 million users, and the integration brings more liquidity, apps, and use cases like payments, DeFi, and RWA tokenization.

Remember to do your own research and consult with a financial advisor before making any investment decisions. The cryptocurrency market is volatile, and it's important to understand the risks involved. But with careful planning and a long-term perspective, cryptocurrency investments can potentially offer significant rewards.