Cardano Founder Charles Hoskinson Confirms XRP Integration with Lace Wallet

Cardano founder Charles Hoskinson confirmed this XRP integration in a surprise AMA (Ask Me Anything) session earlier this week.

Cardano founder Charles Hoskinson has confirmed the integration of XRP into the Cardano Lace Wallet during a recent Ask Me Anything (AMA) session.

This launch marks a significant change for the two ecosystems, previously known for a slight rivalry in the crypto sphere.

What Happened: In a recent installment of his regular AMA series on Monday, Charles Hoskinson was asked by a listener if he and his team were still planning to work on integrating Ripple’s XRP.

“We’re launching the Lace wallet integration for XRP very soon, and we’ll also be able to announce the Midnight Network airdrop in full. So yes, we’re still working with Ripple and we have great respect for the company and its technology,” Hoskinson responded.

This integration will enable ADA holders to effortlessly interact with XRP, encompassing functionalities for storing, sending, and receiving the coin.

The Lace wallet is a lightweight wallet designed specifically for the ADA ecosystem. Earlier this year, the wallet vendor announced plans to pursue multi-chain initiatives.

Previously, Lace had integrated Bitcoin, and now XRP is among the mainstream assets slated for on-chain implementation in the upcoming stage.

Although the huge announcement was made in an AMA session, Hoskinson did not disclose the exact timeframe for the completion of the XRP integration in the Lace wallet.

Another big news that will help boost optimism in the Cardano ecosystem has to do with the Midnight Network.

According to Hoskinson, XRP holders will also have the opportunity to take part in the Midnight Network airdrop. As previously revealed, this new protocol aims to introduce the NIGHT token.

This new protocol has been in development by Hoskinson and his team for more than a year. They envision it as the next major innovation to foster the spirit of decentralization while ensuring compliance with regulations.

In its design, the protocol features two unique tokens: NIGHT for governance and DUST for ensuring the anonymity of transactions.

In this latest update from the Cardano founder, it was mentioned that as many as 37 million users stand to benefit from this airdrop. Interestingly, XRP is one of the eight blockchain networks that will be included in the initiative.

This airdrop is one way the Midnight protocol adds value to its users. Previously, in February, Midnight also teamed up with OpenZeppelin on an initiative to develop smart contracts. The goal of this partnership is to facilitate the broader adoption of DeFi.

ADA, XRP Price Outlook: The ecosystem integration announced by Hoskinson is expected to have a positive impact on the price of ADA and XRP.

However, on April 26, the price of ADA encountered bearish consolidation from a high of $0.7331 to a low of $0.7023. Despite the good news about XRP, the coin’s price growth has remained flat in the last 24 hours, remaining at $2,198.

While the current trend could be part of a healthy reversal process, new developments such as the XRP ETF in Brazil could amplify the positive effects of the Cardano update, and potentially influence the price outlook going forward.