XRP Ledger: The Crypto Underdog
So, Ripple Labs has finally unveiled its roadmap for building an institutional decentralized finance (DeFi) ecosystem on the XRP Ledger blockchain network. Because, you know, the world was just missing that. š
According to a Feb. 25 blog post (yeah, I know, I’m a little behind), the blockchain developer is prioritizing applications that position XRP Ledger as āa safe, secure, and scalable layer 1 for financial institutions looking to use blockchain in a regulated environment.ā Wow, that’s a mouthful. š¤Æ
They’re talking about a permissioned decentralized exchange (DEX), a credit-based DeFi lending protocol, and a new token standard, multi-purpose token (MPT). Because, you know, the world needs more tokens. š¤
Each of these will rely on XRP Ledgerās ādecentralized identifiersā to integrate compliance checks into the applicationās smart contracts. Yeah, because compliance is the most exciting thing in crypto. š“
XRP Ledgerās roadmap builds on top of existing infrastructure, including price oracles and an automated market maker (AMM). Because, you know, the world needs more oracles. š®
Related: XRPās DEX clocking $17M daily volume ā CEO
Lagging user growth
So, the price of XRP Ledgerās native token, XRP (XRP), has increased by more than 300% since Nov. 5, when crypto-friendly Donald Trump won the US presidential race. Yeah, because that’s not a bubble waiting to happen. š
As of Feb. 26, XRPās market capitalization stands at approximately $128 billion, according to CoinMarketCap. That’s a lot of money, but let’s be real, it’s still not as cool as Bitcoin. š
However, activity on XRP Ledger still lags behind rival chains. It has a total value locked (TVL) of roughly $80 million, compared to Ethereumās more than $50 billion, according to data from DefiLlama. Yeah, that’s a bit of a problem. š¤¦āāļø
Unlike blockchain networks such as Ethereum, XRP Ledger has not historically supported third-party smart contract deployments. Because, you know, that’s not a limitation at all. š āāļø
Products such as XRP Ledgerās AMM are deployed by Rippleās core developer community. Yeah, because that’s not a centralized system at all. š¤£
The DEX has handled upward of $1 billion in cryptocurrency swaps since launching in 2024, Ripple CEO Brad Garlinghouse said in January. That’s a lot of swaps, but let’s be real, it’s still not as cool as a real exchange. š
Launched in 2012, XRP Ledger is among the oldest blockchain networks. Yeah, because age is just a number, right? š
Reasons for optimism
Ripple hopes that leaning into institutional DeFi, including real-world assets (RWAs), will supercharge the networkās growth, according to the blog post. Yeah, because that’s not a pipe dream at all. š
Tokenized RWAs represent a $30-trillion market opportunity globally, Colin Butler, Polygonās global head of institutional capital, told CryptoMoon in an interview. That’s a lot of money, but let’s be real, it’s still not as cool as a real asset. š¤
Trump, who has promised to turn the US into the āworldās crypto capital,ā plans to tap industry-friendly leaders to head key financial regulators, including the US Securities and Exchange Commission. Yeah, because that’s not a recipe for disaster at all. š¤¦ā
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2025-02-26 22:03