Ripple's XRPL DEX Liquidity Surges Fourfold to $20 Billion
1min read Ripple's XRPL DEX liquidity has exploded fourfold, reaching a $20 billion milestone as on-chain activity surges. According to CryptoQuant's head of research, Julio Moreno, XRP has seen a significant increase in on-chain activity, fueling the bullish momentum. The number of daily active wallet addresses for XRP coins increased by 900% within the second half of 2024, reaching over 100,000 by the end of the year.
The XRPL decentralized exchange (DEX) has also experienced remarkable growth, with liquidity surging fourfold in under three months to $20 billion. This growth can be attributed to the rise of Ripple meme coins, such as PHNIX, which has gained by more than 155% in just one week. The increasing usage of the XRPL platform creates a positive outlook for XRP's long-term performance, boosting utility and demand for the cryptocurrency.
Retail interest in XRP has also increased significantly as the price approaches an all-time high. Most of the trading volumes came from an uptick in buying activity, with the Relative Strength Index (RSI) on XRP's one-day chart rising gradually to 76, indicating that it was close to reaching overbought levels. The Chaikin Money Flow (CMF) also shows intense buying pressure, rising to 0.31, indicating high demand for XRP as more traders accumulate the asset.
Large holders are also in an accumulation phase, with XRP whale addresses conducting transactions exceeding 1M XRP tokens currently dominating exchanges. According to analyst Ali Charts, XRP whales have purchased 1.09 billion XRP tokens in just one week. Continuing this purchasing behavior could further drive XRP's price and on-chain activity.
