It seems the XRP Ledger, or as I like to call it, the XRPL, has not only blossomed but practically exploded onto the scene of decentralized finance, much like a debutante at her first ball! ๐ Its Total Value Locked (TVL) has quintupled, a feat so remarkable it might just inspire poets to pen sonnets.
Our dear friend DeFiLlama informs us that XRPL’s TVL has risen from a modest $16.1 million to a rather flamboyant $80.63 million. Alongside this, the ledger’s on-chain activity has experienced a surge, with daily active XRP addresses multiplying like rabbits from10,000 to over100,000 in mere months. A veritable social season, indeed!
And let us not overlook the proliferation of automated market maker (AMM) pools on XRPL, which now host an eclectic mix of assets, ensuring liquidity flows as freely as champagne at a soirรฉe.
Ripple vs. SEC: A Drama Concludes
This surge in interest is, of course, a reflection of the thrilling conclusion to Ripple’s legal tango with the U.S. Securities and Exchange Commission (SEC). A dance that has kept the audience on the edge of their seats.
Ripple Labs, having been accused of selling unregistered securities, was handed a $125 million fine on August7,2024. However, in a twist worthy of a Wildean play, the SEC agreed to delay the payment post-September6, setting the stage for further negotiations.
The climax arrived when the SEC, in a gesture of magnanimity, dropped the case against Ripple, prompting Ripple to reciprocate by dropping its cross-appeal. This delightful denouement was confirmed by Ripple’s Chief Legal Officer Stuart Alderoty in a post on X (formerly known as Twitter), much to the delight of spectators.
As part of the settlement, the SEC retains $50 million from the penalty, safely tucked away in an interest-bearing escrow account. A tidy sum, indeed!
XRP: A Price Performance of Epic Proportions
Throughout this legal melodrama, XRP’s price has been as volatile as a character in one of my plays. In September2024, it languished around $0.55, but by January2025, it had soared past the $3 mark, a testament to restored investor confidence.
Presently, XRP trades at $2.11, boasting a market capitalization of $123.32 billion and a24-hour trading volume of $4.32 billion. A clear indication that the market’s interest is as unwavering as a true aesthete’s devotion to art.
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2025-03-31 20:06