XRP Ledger’s Decentralized Exchange Sees Total Value Locked Soar Over 7.5 Million $XRP

XRP Ledger’s decentralized exchange has experienced a significant surge in total value locked (TVL), with over 7.5 million $XRP now locked in the platform’s automated market makers (AMMs). This increase in TVL has been attributed to the introduction of more trading pairs with XRP and inflows into larger pools. The locked assets, which include XRP, Sologenic ($SOLO), USD Coin ($USDC), Bitcoin ($BTC), and Coreum ($CORE), are currently valued at around $4 million, with the XRP tokens alone worth approximately $2 million. The largest pool in terms of locked assets is the SOLO/XRP AMM, followed by the USDC/XRP pool. This decentralized exchange allows XRP token holders to trade in a permissionless manner using liquidity pools. However, providing liquidity comes with the risk of impermanent loss, where fluctuating token prices can impact token providers’ gains. Despite this risk, a cryptocurrency analyst remains bullish on XRP, predicting a price surge to over $200 per token. The XRP Ledger has been continuously evolving, with the recent surge in locked XRP coinciding with Ripple’s announcement of its plans to launch a stablecoin pegged to the US dollar. It is expected that the stablecoin market will exceed $2.8 trillion by 2028.