Not Only XRP: Chainalysis Now Tracks 260K+ Tokens on XRPL

Leading blockchain analytics firm Chainalysis has expanded its support for the XRP Ledger, extending its coverage beyond XRP to include the broader ecosystem of XRPL tokens.  In an announcement on Monday, Chainalysis stated that it has expanded its coverage for XRPL, a network it referred to as one of the long-standing blockchains in the industry.  Extended XRPL Support on Chainalysis For context, Chainalysis' initial support for the XRPL focused mainly on XRP, the primary token of the blockchain.  With this extended support, Chainalysis will now cover more than 260,000 tokens on the XRPL. This includes IOUs, multi-purpose tokens, and XRPL-based NFT standard assets. The move aims to provide users, including institutions and regulators, with more in-depth insights into the XRP Ledger.  https://twitter.com/chainalysis/status/1965049742309892230 For customers, this extended support means enhanced compliance and investigative capabilities for XRPL native assets. They can now use Chainalysis KYT (Know Your Transaction) to monitor all XRPL tokens in real time, while also receiving alerts for suspicious activity.  Notably, this extended support is also available in Chainalysis’ Reactor investigation tool and entity screening. With the integration, users can visualize fund flows, trace transactions, and detect potential illicit activity across the XRPL ecosystem.  Chainalysis Highlights XRPL Core Features  Meanwhile, Chainalysis provided insights into the performance of XRPL since its launch in 2012. The analytics firm noted that the XRP Ledger is recognized for its reputation in cross-border payments, thanks to its speed and low transaction costs.  Chainalysis claimed that the network has processed over 3.3 billion transactions spanning more than 90 million blocks. Moreover, it highlighted XRP’s strong community backing and the token’s consistent ranking among the top 10 largest cryptocurrencies by market capitalization. Furthermore, it frames XRPL as a decentralized project that currently maintains nearly 200 validators. The development coincides with a broader crypto market relief rally, with XRPL-based assets, including XRP, posting modest gains. At the time of writing, XRP has climbed above the $3 mark, soaring 4.24% in the past day to trade at $3.01. It ranks as the third-biggest cryptocurrency, boasting a market valuation of $179.78 billion.