Ripple $2.4 supported XRP Ledger (XRPL) is on the agenda with an important regulation in transaction fees. RippleX developers aim to improve the performance and user experience of the network by increasing transaction fees. The current fee level will be increased from 10 drops to 200 drops. With this change, transaction costs for validators will be adjusted.
New Regulations for Validators
In the statement made by RippleX, it was stated that the increase in transaction fees will bring significant changes for the validators of the network. With the new regulation, the dollar value of transaction fees will be determined as $0.0005. This increase will make transaction costs on the network more predictable.
Validators are asked not to do hardcoding. “Instead of fixing fees, opt for autofill systems using SDKs,” RippleX developers suggested. This approach will minimize the risk of failed transactions in case of fee level changes.
Additionally, after the updates, validators are expected to quickly adapt to the new procedures. It is thought that once the proposed changes are accepted and implemented, transactions on the network will become more efficient and user-friendly.
Market Performance and Future of XRP
These technical adjustments in XRPL can directly impact the market performance of XRP. XRP, which has recently increased by over 400%, reached its highest level in 6 years. However, at the time of writing, the XRP price is down 7.58% to $2,415. Still, it is trading above the intraday low at $2,317.
Community members noted that increasing transaction fees could attract more transaction volume in the long run. It is widely believed that lower transaction costs will increase the adoption of XRP and reinforce the decentralization power of the network.
RippleX stated that this regulation will increase the efficiency of XRPL and contribute to the sustainable growth of the network. At the same time, it is stated that new steps that will strengthen XRP’s market position are on the agenda.
Ripple’s RLUSD stablecoin launch and XRP ETF product are among other developments that have positively impacted market sentiment. Investors and users are closely following these innovations in the XRP ecosystem. The future of XRP is promising from both a technical and market dynamics perspective.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
