XRPL Automated Market Maker (AMM) Pools have reached a new milestone, with over 315 pools and more than 2,200,000 XRP tokens locked within them. This data is based on recent on-chain information that highlights the growing engagement in the decentralized finance (DeFi) sector on the XRPL network. Notably, the volume of XRP locked in these AMM pools has seen a strong increase, suggesting a thriving ecosystem.
The XRPL ecosystem now boasts 209 total assets, 203 unique tokens, and 184 XRP pairs available for trading, according to data from XRPScan. The number of active pools has surged to 324, with the total amount of XRP locked crossing 2.27 million. This significant escalation in locked liquidity and active pools indicates a growing confidence in the DeFi capabilities and liquidity provisions of the XRPL network.
Although the proportion of XRP supply locked in XRPL AMMs is modest, analysts believe that this upward trend could have an impact on market dynamics. The USDC/XRP pool currently holds the highest volume, and experts are cautiously monitoring how this locked liquidity might affect the XRP market.
Notably, media personality Zach Rector suggests that while an immediate supply shock in the XRP market is not expected, the increasing use of XRP for various utilities, the development of bridges, and the presence of strong holders are gradually reducing its liquid supply. This could potentially lead to a supply shock scenario within the next 5-10 years.
In the past 24 hours, the price of XRP has shown a volatile yet bullish trend, with a rebound above $0.50 after a dip to $0.4884. The fluctuations reflect active trading in the market, with XRP maintaining gains near this upper level and consolidating around $0.498 at the time of reporting.
The recent growth in liquidity within XRPL AMMs demonstrates the continuous development of the network’s DeFi engagements. The impressive surge in locked XRP comes shortly after the ecosystem approved an amendment fix to address an issue identified in the AMM code.