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XRPL Top Use Cases in 2023 Indicated by Community

Wed, 01/04/2023 - 15:50
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Vladislav Sopov
XRP community enthusiast recalled functions of RippleNet and XRP that might be of crucial importance in 2023
XRPL Top Use Cases in 2023 Indicated by Community
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A community-managed account for Ripple, XRP token and XRP Ledger blockchain, dubbed @WKahneman, recalls the core elements of RippleNet multi-purpose platform and their main use cases.

From xCurrent, xRapid and xVia to RippleNet: Long story short

The anonymous XRP enthusiast who goes by @WKahneman on Twitter shared a thread designed to explain the design of Ripple's XRP-based solutions for newcomers to its ecosystem.

He recalled that some years ago, Ripple offered three solutions for businesses and individuals focused on seamless cross-border value transfers.

The first one, xCurrent, facilitated messaging in payment channels. xRapid instrument leveraged XRP as a bridge currency for seamless payments. xVia in this stack served as an API solution suitable for being integrated into various business designs.

In 2023, all of these functions are integrated into a single ecosystem, RippleNet. RippleNet, in turn, leverages XRP as a currency for On-Demand Liquidity (ODL) payment corridors in various regions of the globe. RippleNet removes the need for bilateral agreements between the parties.

ODL solutions expanded to new regions in 2022

As such, direct usage of XRP is not necessary any longer; clients use RippleNet without swapping their funds to XRP themselves.

Last year was a crucial period for Ripple and its XRPL solutions, including ODL. In its detailed report shared in Q4, 2022, the Ripple team highlighted that expansion to Africa, Argentina, Belgium, Israel, Australia, Brazil, Singapore, the UAE and the U.K. is the company's top priority.

Ripple's ODL Solution Gains Substantial Adoption This Year: Report

In 2023, Ripple's payments solutions are used not only for cross-border transfers but also for payments of crypto friendly SMEs and e-commerce platforms.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)