Ripple's Seoul Event Fails to Boost XRP Price, Market Cap Still Far from $6.3 Trillion
XRP proponents gathered at the Ripple event in Seoul, where they hoped to see the coin reach $100. However, the upgrades announced by Ripple may not necessarily drive up the price of XRP.
Ripple's engineers showcased new privacy and AI capabilities for the XRP Ledger. The most significant upgrade is the introduction of privacy features, which use zero-knowledge proofs and encryption to obscure transaction amounts and balances. This feature was first made available for a validator vote in Ripple's ledger release 3.3.0.
The second upgrade focuses on AI agents, which are programs that manage wallets and autonomously handle payments for data or services. Ripple showcased verified identities for these agents, alongside spending limits and smart wallets that can hold both XRP and stablecoins. Ripple reported that agents have already executed over 11 million transactions on the ledger, with projections suggesting this could grow to 100 million.