Ripple’s XRP Ledger DEX Surpasses $400 Million in January

Ripple’s XRP Ledger DEX surpassed $400 million in swap volumes this January. CEO Brad Garlinghouse calls 2024 a monumental year due to the DEX’s rapid growth and stablecoin development.

Ripple (XRP-USD) CEO Brad Garlinghouse revealed that swap volumes on the XRP Ledger’s decentralized exchange (DEX) surpassed $400 million in January. During a community call on Wednesday, Garlinghouse highlighted the rapid growth of the DEX, which now averages over $17 million in daily volumes. This achievement follows the DEX’s $1 billion milestone since its 2024 launch.

2024 Becomes a Breakout Year for Ripple

Garlinghouse described 2024 as “one of the most monumental years for Ripple,” attributing it to the DEX’s success and Ripple’s early traction with its RLUSD stablecoin. He also pointed to speculative optimism among traders that U.S. policy under a crypto-friendly Trump administration could benefit Ripple’s ecosystem.

XRP Ledger’s Unique DEX Design Attracts Larger Players

Unlike other blockchain DEXs, the XRP Ledger’s exchange is built directly into its core functionality, offering both limit and market orders. This structure has positioned it as a key player in the expanding crypto ecosystem.

At the time of writing, XRP is sitting at $3.1328.