XRP Ledger DEX Quantity Hits $400M in January, Ripple CEO Bullish on Progress

• January noticed $400 million in swap buying and selling quantity on the XRP Ledger
• Since final 12 months’s launch, DEX has processed over $1 billion in cryptocurrency swaps
• An modification to the XRP Ledger, recognized as XLS-73d, is about to go stay on January 30

For January, Ripple’s XRP Ledger decentralized change (DEX) has seen substantial development, recording roughly $400 million in swap volumes. The information was shared by Ripple’s CEO Brad Garlinghouse in the course of the XRP Neighborhood Day.

This equates to a median every day transaction quantity of over $17 million. Since its launch in 2024, the DEX has processed over $1 billion in cryptocurrency swaps.

Ripple had an awesome final 12 months, and one of many predominant contributors to the profitable previous 12 months is the fast development of the XRP Ledger DEX. The CEO additionally famous the promising begin of Ripple’s US dollar-pegged stablecoin, RLUSD, and a number of other filings for proposed XRP exchange-traded funds (ETFs).

Moreover, he said that JPMorgan Chase & Co. initiatives potential XRP inflows exceeding $8 billion for an XRP ETF, akin to these proposed by Bitwise and WisdomTree.

Associated: XRP Ledger To Vote on Key Modification: Might RLUSD AMM Pool Increase XRP?

Part of this development might be attributed to Donald Trump changing into the US president, following the elections, XRP’s worth surged almost 400%, reaching an all-time excessive of $2.90 earlier than stabilizing round $2.50. This improve was attributed to investor optimism about potential regulatory modifications that may very well be extra favorable to cryptocurrencies. 

On the time of writing, XRP’s market cap stands at $178.22 billion.

XRP Ledger’s Increasing Position

Final 12 months, Ripple explored increasing XRP Ledger’s capabilities by introducing an Ethereum Digital Machine (EVM) sidechain and contemplating native sensible contract functionalities. These initiatives aimed to broaden XRP Ledger’s use circumstances and appeal to a wider developer viewers.

Additionally, the XRP Ledger efficiently closed its 70 millionth ledger, highlighting its reliability and the robustness of its decentralized community.

Then, based on the announcement from a number of days in the past, the XRPL is about to combine tokenized short-term US treasuries, provided by Ondo Finance and backed by BlackRock, thus bettering the platform’s asset range and attraction to conventional buyers.

Associated: Ripple CTO David Schwartz Clears the Air on XRP Ledger Governance

Lastly, it’s value noting that an modification to the XRP Ledger, recognized as XLS-73d, is about to go stay on January 30. This replace will permit the creation of an XRP/RLUSD automated market maker (AMM) pool, boosting liquidity and increasing buying and selling alternatives on the XRPL DEX.