Ripple Labs CEO Brad Garlinghouse announced in a recent community call that the XRP Ledger’s decentralized exchange (DEX) surpassed $400 million in trading volume during January, signaling significant growth and interest from major players in the market. The DEX has seen daily trading volumes exceed $17 million this month, contributing to a total volume of over $1 billion since its launch in 2024.
Garlinghouse highlighted the rapid expansion of the XRP Ledger’s DEX as one of the key factors that made 2024 a pivotal year for Ripple. Along with this achievement, he noted the promising early progress of Ripple’s US dollar-pegged stablecoin, RLUSD, and the ongoing filing of exchange-traded funds (ETFs) tied to XRP.
The rise of the XRP Ledger’s DEX comes amid growing optimism in the market, especially with the anticipation that a potential crypto-friendly administration under President Trump could create a more favorable environment for U.S.-based crypto companies, including Ripple and XRP.
What sets the XRP Ledger’s DEX apart from other decentralized exchanges is its integration directly into the blockchain itself. Unlike exchanges such as Uniswap or Pancakeswap, which operate as separate applications or smart contracts, the XRP Ledger’s DEX uses an order book system, allowing users to place both limit and market orders for XRP and other assets. These assets can include tokens or IOUs that represent various commodities and currencies, providing users with a comprehensive and efficient trading experience within the XRP ecosystem.
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