XRP Ledger's DEX achieves $17M daily volume

The XRP Ledger's decentralised exchange (DEX) has reported impressive trading activity, with a total of $400 million in swap volume recorded in January alone, averaging approximately $17 million per day.

Ripple (CRYPTO:XRP) CEO Brad Garlinghouse shared these figures during an XRP Community Day discussion, highlighting that the DEX has surpassed $1 billion in total swap volume since its launch in 2024.

Garlinghouse emphasised that this growth is a key factor contributing to what he believes will be a monumental year for Ripple, alongside the promising traction for Ripple's US dollar-pegged stablecoin, RLUSD (CRYPTO:RLUSD), and various proposed XRP exchange-traded funds (ETFs).

He noted that investment bank JPMorgan estimates these ETFs could attract upwards of $8 billion in inflows into XRP.

The positive momentum for XRP has been further fueled by political developments, particularly the recent election of Donald Trump, which Garlinghouse credits for boosting investor sentiment in the crypto market.

Since Trump's victory on November 5, XRP's price has surged over 500%, with its market capitalisation exceeding $180 billion as of January 28.

"I think we’re moving past what truly felt like an unlawful war on crypto," Garlinghouse remarked on the significance of Trump's win for the crypto industry.

While the SEC has approved spot Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) ETFs recently, applications for XRP ETFs have yet to be resolved.

However, with Trump’s administration expected to adopt a more favorable stance toward cryptocurrencies, there is growing optimism about potential approvals in 2025.

At the time of reporting, the XRP (XRP) price was $3.07.