Liquidity within the XRP Ledger AMM pools has crossed the 13 million XRP mark, reflecting a growing traction towards AMMs on the network.
The automated market maker (AMM) pools, which have been sources of liquidity for the XRP Ledger decentralized exchange, have been on a steady ascent amid growing demand. Data from XRP Scan shows that the total amount of XRP within these pools has crossed 13 million.
The growing trend bolsters liquidity on the XRPL DEX, cushioning transactions and trading activities. It also reflects users’ increasing interest in pooled transactions, boosting the total value locked in the network.
More Liquidity on the XRP Ledger
The data shows that the total XRP pooled within the XRPL AMMs stands at 13,276,182 XRP, worth $30 million at the current market price. Notably, these numbers have increased substantially over the past months amid renewed interest in liquidity provision.
Meanwhile, the number of AMM pools has surged drastically, particularly coinciding with XRP’s impressive price performance. Currently, there are 18,468 active AMM pools on the XRP Ledger and 17,059 total assets.
Remarkably, these growing numbers followed the launch of the RLUSD/XRP AMM pool. With the recent AMM Clawback amendment gaining validator consensus, the pool pair went live on the XRP Ledger, instantly gaining traction among liquidity providers.
Since then, its liquidity has surged to become the fourth largest on the network, with 671,272 XRP ($1.52 million) locked in. Notably, the CRYPTO/XRP pool has the largest XRP stake, with 3.8 million XRP ($8.7 million).
Bullish Reactions Trail Development
Meanwhile, the surging TVL on AMM pools has attracted bullish claims among enthusiasts of the XRP ecosystem. For instance, while revealing the impressive stats, XP Market insisted that the XRP Ledger is the place to be.
Another reaction highlighted an all-rounded positive outlook for XRP. The user cited the growing liquidity and thriving ecosystem as propellants for the impending bullish momentum.
Notably, recent analysis suggests that the XRPL AMM pools could provide a hedge against market downsides. Panos Mekras, the co-founder of the XRPL-facing machine Anodas, stated that although it has drawbacks during market uptrends, providing liquidity to a token/stablecoin pair could help cushion the impact on investment when prices go down.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
