XRP Ledger Sees $1.1 Billion in Stablecoins Amid XRP Price Rebound
- Stablecoins on the XRP Ledger (XRPL) increased to $1.126 billion, marking a rise of 22.2% since August.
- XRP’s price reached approximately $1.32, reflecting a monthly rebound of 29.7%, despite an 8.7% decline over the past week.
- XRPL decentralized exchange (DEX) volume hit $253.1 million in the last month, more than double the previous period’s volume of $100.4 million.
- Seven-day DEX volume fell to $30.6 million, down by 25.4% from the prior week’s total of $41.1 million.
- The liquidity pool for XRP/RLUSD holds about $4.6 million, representing roughly only 0.41% of XRPL’s stablecoin value.
The increase in stablecoin supply and DEX activity indicates growing market interest in XRPL as a bridge asset for transactions, although actual XRP use remains unclear due to routing options and liquidity provider behavior.
With stablecoin values reaching $1.126 billion and DEX volumes at $253.1 million, XRPL is positioned for potential growth, but sustained demand for XRP will depend on its utilization in trading activities.(Source)
