As the widespread adoption of XRP is growing across the Defi ecosystem, the total amount of XRP locked in automated market makers (AMM) pools reached 14,140,665 XRP as of May 2, according to the latest data from XRPSCAN.
This is a notable milestone for the XRP community, indicating an increase in liquidity provisions as demand for XRP-based Defi platforms continues to increase significantly.
XRP liquidity is rising sharply
Investors continue to put more money into the AMM protocol as they are increasingly interested in the third largest cryptocurrency by market capitalization. AMM pools are mechanisms that allow for liquidity to be provided in XRP Ledger Dex.
Data show that the total number of active AMM pools providing XRP liquidity reached a massive 19,647, a significant increase of over 45% from the 13,422 AMM pool recorded at the beginning of the year.
The reason behind the surge in locked XRP is not clearly stated, but bullish moves can stem from a surge in interest among XRP users, allowing you to maximize profits through fees generated from activities. This shows strong confidence among XRP investors in their future potential and their ability to earn more income for their holders.
This impressive growth follows a significant increase in the number of active users on the XRPL network. The XRPSCAN data also shows that the number of unique addresses that run XRP transactions exceeds 20,000, leaving a total number of transactions running in a day that exceeds 1,624,697.
This reflects the increasing interest and use of XRP as blockchain continues to add new utilities, and is enhancing adoption to reach mainstream appeal.
This impressive surge coincides with the prominent development of the XRP ecosystem, raising the changing market sentiment and renewed interest among retail and institutional investors.
Among the multiple bullish signals projected by major Altcoin, recent price movements have sparked optimism among investors at this time of year, which is considered an emerging bull market.
CoinmarketCap data shows that XRP was bullishly traded last week despite showing mixed signals. Thus, it has surged appropriately to 0.90% over the past seven days, reaching $2.21 as of press time.
