XRP News Today: XRP Ledger TVL Surges 5% to $94.44 Million Driven by DeFi Activity

The XRP Ledger (XRPL) has experienced a significant surge in its Total Value Locked (TVL), reaching an all-time high of $94.44 million. This growth is primarily driven by the increasing activity on its native decentralized exchange (DEX) and the newly launched Ethereum Virtual Machine (EVM)-compatible sidechain. Since its mainnet debut on June 30, this sidechain has attracted over 1,300 smart contracts and more than 17,000 addresses, leading to a substantial inflow of liquidity into various pools and trading platforms. This newfound compatibility with Ethereum-style smart contracts has made XRPL more appealing to decentralized finance (DeFi) participants, who are increasingly using it for yield farming and token swapping.

Prior to July, XRPL's TVL had been relatively stagnant, hovering around $90 million for several months. The recent jump to over $96 million marks the first significant breakout in this cycle, indicating a real increase in on-chain engagement. Metrics such as weekly active addresses and transaction counts have also surged, reflecting heightened activity on the network. This surge in TVL coincides with a sharp rise in XRP's share of the crypto market capitalization, with the XRP Dominance index climbing above 5%. This increase highlights renewed investor interest in altcoins with active DeFi ecosystems, particularly in the context of strong performances by Bitcoin and Ethereum earlier this year. The XRPL reaching $94.44 million in TVL is a major milestone, signaling that the network has entered genuine DeFi territory, driving developer adoption, liquidity, and investor interest.

Marketing technician Tony 'The Bull' Severino has sparked speculation by questioning whether XRP could reach $13 within just 40 days. Severino's analysis, based on Elliott Wave theory, suggests that a contracting triangle pattern formed over nearly seven years between 2018 and late 2024 could lead to an impulsive fifth wave. This wave could mirror XRP's monumental 2017 rally, where the altcoin skyrocketed roughly 1,900% over six weeks. Severino identifies this as a classic fourth-wave setup, followed by an imminent fifth wave that could push XRP to near $13. However, critics argue that markets rarely repeat fractal patterns so cleanly, and even if XRP does reach near $13, this move would likely complete the fifth-wave impulse, ushering in a classic Elliott Wave correction thereafter. Despite the skepticism, many in the crypto community are captivated by the symmetry and boldness of the forecast, with some enthusiasts summarizing the sentiment as a potential parabolic rally that could push XRP to $13 within 40 days.

In conclusion, Severino's analysis has succeeded in shaking up the XRP narrative by framing an audacious question through rigorous analysis. The XRP Ledger's breakthrough of achieving $94.44 million in TVL not only cements its transition into a DeFi-enabled platform but also signals burgeoning investor confidence. As XRPL continues to roll out developer tools and expand its DeFi capabilities, it could increasingly challenge larger ecosystems, positioning itself as a formidable player in the DeFi space.