Attention XRPL Developers! Ripple Makes Key Announcement

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Ripple has made a key announcement for XRP Ledger (XRPL) developers through a tweet on X. RippleX has announced plans for a testnet reset, which is scheduled for August 19, 2024, at 3 a.m. EST. 

RippleX’s Key Announcement For XRPL Developers!

Ripple operates the testnet and devnet to allow the community to test new features and integrations without risking actual money. The test networks are centralized, as opposed to the production XRP Ledger (mainnet).

The testnet is intended to closely mimic the mainnet’s amendment status, while the devnet serves as a preview of proposed and upcoming features based on the source code’s development branch.

Ripple Exploring Long-Term Solutions

RippleX noted that resets improve the Testnet stability and reduce the cost of running a Testnet node and that they would provide updates once it’s completed.

RippleX also noted “We are also exploring long-term solutions to enhance the resilience of the Testnet and ensure the community is prepared, including limiting access to Testnet XRP to mitigate network stress, Adding additional safeguards to protect the Testnet, Establishing a regular schedule for Testnet resets”

Furthermore, it also reminded that in addition to this Testnet, XRPL community members are encouraged to create and manage additional testnets to support diverse testing and development needs.

XRP Whales Begin Accumulation Trend!

XRP has started to shed off its losses from the recent crypto crash. Whales are also supporting the price rebound and have begun a strong accumulation trend for the coin.

Earlier today, the market witnessed rising buying activity from XRP whales. More than 26 million XRP coins were transferred from Binance to an unknown wallet. This XRP transfer is worth around $13.62 million, as per the current XRP price.

Rising buying activity and accumulation from crypto whales are always seen as a bullish signal. It is expected that the price of XRP will get significant support from this buying spree.