Ah, dear reader, gather ’round as we delve into the curious case of the XRP Ledger’s native decentralized exchange (DEX), which has, in a most astonishing manner, managed to amass a staggering $400 million in swap volume this January alone! Yes, you heard it right—an average of approximately $17 million per day, as proclaimed by none other than Ripple’s illustrious CEO, Brad Garlinghouse, on the 28th day of January, a day that shall be remembered in the annals of crypto history! 🤑
But wait, there’s more! This DEX, like a sprightly young lad, has handled over $1 billion in cryptocurrency swaps since its grand debut in 2024. Garlinghouse, in a moment of uncharacteristic humility, shared this revelation during a lively discussion on the X platform, which, I must say, sounds like a place where one might find both wisdom and folly in equal measure, especially on XRP Community Day! 🎉
Garlinghouse, with the confidence of a man who has just discovered a hidden stash of rubles, declared that 2024 will be a year of monumental significance for Ripple. Among the many reasons for this optimism, he cited the “early but promising traction” of Ripple’s US dollar-pegged stablecoin, RLUSD, and the flurry of filings for proposed XRP exchange-traded funds (ETFs). One can only imagine the excitement in the air! 🎈
Post-election optimism
In a twist that would make even the most seasoned playwright raise an eyebrow, Garlinghouse attributed much of XRP’s newfound vigor to the recent electoral victory of none other than US President Donald Trump. “Trump winning the election… whatever you think about his personal politics, for crypto, it is certainly profound,” he mused, as if pondering the mysteries of the universe over a cup of tea.
Indeed, the price of XRP Ledger’s native token, XRP, has soared by more than 500% since the fateful day of November 5, when Trump claimed his presidential throne. As of January 28, XRP’s market capitalization stands at a jaw-dropping $180 billion, according to the ever-reliable CoinMarketCap. One can only wonder what the ghosts of past investors are whispering in the night! 👻
Trump, with grandiose promises to transform the US into the “world’s crypto capital,” is reportedly on a quest to appoint industry-friendly leaders to oversee key financial regulators, including the US Securities and Exchange Commission. A noble endeavor, indeed! 🏛️
In the year 2024, the agency has already given the green light for issuers to list spot Bitcoin (BTC) and Ether (ETH) ETFs, but alas, the proposed spot XRP ETFs seem to be languishing in the shadows, like a forgotten character in a tragicomedy. Yet, with Trump now in the White House, investors are placing their bets on a favorable outcome for XRP ETF approval in 2025, with prediction market Polymarket setting the odds at a tantalizing 73%. What a delightful game of chance! 🎲
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2025-01-28 23:51