- A financial analyst described XRP due to the low Dex volume as “greatest financial fraud the world has ever seen”.
- The Ripple CTO made it clear that the data only covers the AMM volume and not the overall activity.
A recent claim that XRP when Greatest financial fraud in the world referred to sharp reactions and re -fitted the debate about its actual benefits. The statement based on low Dex volume data attracted attention in the entire crypto community. The CTO of Ripple, David Schwartz, and network validists reacted by clarifying the data accuracy and highlighting the wider scope of the XRP Ledger activity.
XRP Dex volume-a question of counting?
The financial analyst Aylo questioned the market capitalization of XRP of $ 140 billion because he believed that it did not match the functionality of the decentralized stock exchange. Defillama’s data showed him that XRP Ledger had only $ 44,000 in the 24-hour dex volume. He used this data to underpin his argument. The presented number was only the volume of the automated market maker (AMM), but excluded the entire market trade data.
David SchwartzCTO von Ripple said that Amms only make up a small part of the overall functions of the XRPL network. In the data provided, information about the Central Limit Order Book (Clob) was missing, which most trades were carried out during the period. Schwartz pointed out that the defi implementation was recently carried out, which indicates that XRPL takes time to build up its commercial facilities.
I can’t find the exact page you’re looking at, but I bet that’s just looking at AMMs on XRPL, a miniscule fraction of what people use XRP for.
— David "JoelKatz" Schwartz (@JoelKatz) March 21, 2025
The stock exchange revealed a persistent ambiguity as to how the on-chain statistics refer to the entire economic activities with XRP. The date March 2024, on which XRP Ledger introduces its AMM functions, was not confirmed by Aylo. The main blessing of XRP before March 2024 was the facilitation of cross-border transactions and the provision of liquidity, but not defi-based applications.
XRPL-validator counter with complete data on the trading volume
Vet, a Dunl validator, replied Aylo with updated data that show a daily total volume of $ 9 million and not $ 44,000. VET provided information about shops that came from the AMM system and Clob, which resulted in a much more precise representation of the Dex activity of XRPL. VET worked with Orchestra Finance and Defillama to do the data report functions for Xrpl To be improved.
The current number of active XRPL walls is over six million, but is lower due to the existing market views than with other competing blockchains. The Defi Involvement rates for XRPL are still low, since it recently integrated NFTS and AMMS in addition to stable coins. The growing number of ecological developments shows that the system has grown out of its infancy.
It’s arguably the biggest opportunity market in whole crypto.
No other blockchain allows such an easy capture of over 6,000,000 accounts on chain with so little competition. XRP Ledger the place to build hands down.
Also it’s $9,000,000 vol 24h on the dex not 44k pic.twitter.com/AK4whdpRbJ
– know (@know_x0) March 21, 2025
The volume of the Dex on XRPL remains behind Ethereum and Solana, but the platform continues to develop an infrastructure that will improve its defect skills. According to VET, the platform will grow in the future instead of concentrating on the current data measurement. The information collected by VET has shown that the evaluation of the use of XRPL must go beyond the examination of the stock exchanges in the current phase.
Comparable Dex sales and misinterpretation of key figures
Compared to XRP, Ethereum recorded a Dex volume of $ 1.44 billion, Solana of $ 1.08 billion and BSC of $ 2.61 billion. The Dex volume of Bitcoin remained low at $ 238,740, while its market capitalization reached $ 1 billion. The numbers show that market capitalization and validity do not follow the Dex volume pattern directly.
Several users have misinterpreted Aylos by believing that he spoke about the total trading figures of XRP, but he actually only referred to the Dex trade activity. For XRP, CoinmarketCap reported a global trading volume of $ 3.14 billion during the last 24-hour period. This is within the expected market dimensions of the token. The complexity of the evaluation of blockchain use becomes clear due to the insufficient data points.
The gradual implementation of the Defi technology of XRP is the main reason for the current activity of the data exchange network, while the inherent value of the tokens remains obvious. The circulating offer and the inflation rates are the subject of ongoing studies, even if there are no substantial evidence of fraud allegations. Analysts need a lot of time to evaluate the complete effects of the ongoing development of the XRP defi tool on the ecosystem.
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