XAH May Surpass XRP Price, as XRPL Sidechain Token Makes New ATH Above $0.60

The price of Xahau Network’s XAH token has started the week in grand style, gaining over 400%.

Xahau Network, a sidechain built atop the XRP Ledger, has seen the value of its native XAH token soar by 376% in the hours leading up to press time. XAH rose from $0.12 to $0.60 in a breakout that has seen it outperform the broader crypto market. 

The move catches the eye as XAH has ties with the XRP Ledger. With trading officially available on Bitrue, the price of XAH has risen significantly. 

It remains to be seen how long the latest uptrend lasts, as XAH is only tradable on Bitrue at the time of writing, per data from CoinMarketCap. Holders would anticipate that the token sustains the growth given the improvements it brings to the XRPL ecosystem. 

Will XAH Surpass XRP? 

The price of XAH at its current growth rate may surpass XRP, which currently trades at $0.53, after making a new all-time high (ATH) at $0.64. However, it is worth clarifying that such a flipping may only occur in the dollar value of both tokens in the meantime.

According to CoinMarketCap data, the XAH token has a market cap of around $201 million, significantly lower than XRP’s $34 billion. Yet, XAH’s price may surpass XRP because the token has a lower supply of 600 million tokens. XRP, in contrast, has a maximum supply of 100 billion coins.

Xahau Brings Smart Contracts to XRPL

Launched by XRPL Labs, Xahau Network features smart contract capabilities by tapping Hooks amendment to allow users to build small scripts that execute alongside regular transactions.

The scripts may contain self-executing contracts that make functions like escrow management and fee voting possible. It could also open the way for the emergence of other kinds of decentralized applications.

However, many have expressed concerns that Xahau Network would steal the spotlight from XRPL. Nonetheless, XRPL Labs’ founder, Wietse Wind, expressed a conviction that the sidechain would positively impact XRPL rather than draw interest away from it.

Similarly, Ripple’s Chief Technology Officer (CTO) David Schwartz has also spoken favorably of the sidechain network. Specifically, he believes that Xahau would provide a good testing ground for developers to implement native smart contracts on XRPL eventually.