Ripple’s XRP Ledger (XRPL) is set to continue the ecosystem revamp that has been going on recently. This is after the announcement of Amendment NFTokenMintOffer surfaced.
As shared by XRPScan, a XRP Ledger Explorer and network analysis platform, this new amendment has entered the 14 day activation window. The NFTokenMintOffer will be the second amendment on the XRPL in the last 7 days. This is after AMMClawback amendment went live on Jan. 30, 2025.
However, amidst the news for a second amendment on the XRPL, XRP has continued to dip further. On the day, the number three token by market cap has dipped over 6%.
Details of the Amendment NFTokenMintOffer
Ripple Labs has been on a spree to improve its ecosystem. The firm is moving forward with the NFTokenMintOffer amendment after 28 out of 35 validators voted in favor. With amendment NFTokenMintOffer now set to go live 15th Feb 2025, the Ripple ecosystem will have boosted Non-Fungible Token (NFT) flow.
The changes will only go live if the amendment holds the consensus. As indicated by XRPScan, the consensus sits at 82.86%. This amendment will also go live as v2.3.0.
XRP Ledger already supports NFTs but the new amendment will focus on enhancing usability through combining mining and offering creation. Users will also be able to set a sell offer when minting their NFTs. These users will be required to provide various details in their sell offer. The mandatory details will include; the amount, the date the sell offer is invalidated and the destination expiration.
XRP’s Price Performance
The price of XRP currently stands at $2.86 and indicates a 6.10% decline over the last 24 hours according to data on Coinmarketcap. XRP’s price chart has continued to illustrate continuous downward movement during the day since it could not keep $3.06 support.
Although prices have decreased substantially, trading remains active. The 24-hour trading volume has increased by 33.91% to $5.69 billion. However, the market capitalization further indicates bearish momentum. It is down by 6.10% and stands at $164.92 billion as of the time of writing.
Price volatility during recent sessions points to potential short-term XRP price corrections yet continued selling activity might push the market value below its current position. The market will closely monitor price movements to spot recovery indications or ongoing price drops in the upcoming hours.
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