XRP Gains on BIS Ledger Test as Ethereum Prepares for Potential Breakout

The XRP Ledger gained attention from the Bank for International Settlements (BIS) after researchers used it in a proof-of-concept study on verifiable official statistics. The BIS released Working Paper No. 1374, 'Blockchain-based approach for verifiable official statistics,' which demonstrated a system that records a summary value on the XRP Ledger and generates cryptographic fingerprints of official datasets.

Researchers tested this system by hashing individual datasets and merging them when needed, anchoring the resultant value to the ledger without storing the banking or economic datasets on XRPL. The prototype operated on the XRPL Devnet, producing verification times of one to two seconds and publication latency of approximately three to five seconds.

XRP's price responded positively, increasing about 3% after recently correcting from its explosive August rally. It is currently trading at $1.39, with a slight edge above its 200-day EMA at $1.35. This level serves as an immediate technical pivot, and maintaining it could allow for another attempt at $1.45-$1.50, followed by the recent highs.