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- Peersyst Technology, a blockchain development company, has released a Testnet version of a new Ethereum-compatible sidechain for XRPL.
- Notably, it uses XRP as its main currency, opening new possibilities for DeFi on XRPL.
A big development is happening for the XRP Ledger (XRPL). Peersyst Technology, a blockchain development company, has released a Testnet version of a new Ethereum-compatible sidechain for XRPL.
This means developers can now use Ethereum-style smart contracts on the XRP Ledger while still using XRP as the main currency for transactions. The project was built with help from RippleX, Ripple’s development team, Axelar Network, a Web3 interoperability platform, and Common Prefix, a blockchain research firm.
This is a major step forward because, until now, the XRP Ledger didn’t fully support smart contracts as Ethereum does. With this new sidechain, DeFi (Decentralized Finance) applications, such as lending platforms, decentralized exchanges, and more, can now be built on XRPL, making it more useful and competitive in the crypto world.
The devnet version of this sidechain first went live in October 2022, with an upgraded release in June 2023. Now, with the testnet active, Peersyst plans to announce new partners and validators soon. The team stated,
There’s still a lot more to announce, but we’re taking it step by step. In the coming days, we’ll be announcing new partners, infrastructure, validators, and much more.
Ripple’s Chief Technology Officer, David Schwartz, has openly supported the project, saying last September, “We are doing that. I hope the XRPL EVM sidechain is extremely successful and competitive as a smart contract platform and will be another XRP ecosystem. And, of course, the risk to XRPL is much lower there. I think there’s also a use case for smart contracts directly on XRPL.”
Could XRP Surge 72,500%? Analysts Weigh In
Crypto analyst Steph Is Crypto claims XRP could skyrocket by 72,500%, reaching $1,452, based on a long-term bull flag pattern, which is a technical signal tied to past rallies. He took to social media and stated, “$1,452.81 #XRP ON SEPT 1, 2025. Do you trust this chart?” However, with XRP currently trading around $2.09, up 1.54% in the last 24 hours, many traders see this forecast as overly optimistic.
While some experts set near-term targets between $3 and $15, others project $50 to $100 by 2027. Ripple’s legal win against the SEC and growing institutional interest like Bank of America’s partnerships, have strengthened confidence in XRP’s future. Talks of an XRP ETF have also fueled bullish sentiment.
Not all analysts agree with extreme price predictions. Legendary trader Peter Brandt warns of a possible head and shoulders pattern forming, which is a bearish signal that could push XRP down to $1.07.
According to Brandt, a drop below $1.90 would confirm this trend, while a breakout above $3 would negate it. “Don’t shoot the messenger. Your favourite Beanie Baby/Pet Rock crypto displays a classic complex H&S top. This could become bullish if 3.0 is exceeded, otherwise, the implication is a decline to 1.07. If you have an issue with this, take it up with Magee and Edwards $XRP,” he said.
Despite divided opinions, Ripple’s expanding institutional ties suggest long-term stability for XRP. Whether it sees gradual growth or a meteoric rise, one thing is clear: the XRP ecosystem is evolving fast.
