The XRP community is concerned about network utilities as DEX trading volume and TVL remain very low. Despite XRP’s impressive $137 billion market capitalization, the network yesterday recorded only $44,000 in daily DEX trading volume, raising questions about its overall utility and adoption.
Compared to major blockchain networks, XRP ledgers suffer from a shortage of nodes, validators and smart contract token holdings. This inconsistency highlights a clear inconsistency between Altcoin’s market valuation and the practical ease of use of its blockchain network.
The XRP ledger reflects a major problem
Since Donald Trump’s reelection in November 2024, XRP has become one of the most popular crypto assets on the market. Under the SEC’s regulatory shift in procrypt, XRP has skyrocketed nearly 300% over the past four months, becoming the fourth largest asset in the market.
Most notably, the SEC dropped its long-term lawsuit against Ripple, vomiting that it hopes the token will reach an all-time high. Despite all these positive developments, the XRP ledger shows little or no improvement in trading activity.
“I think XRP is the biggest financial fraud the world has ever seen. None of them generated this market capitalization value ($140 billion). The XRP ledger has captured a volume of $44,000 in the last 24 hours.”
Looking at Defillama’s data reveals the problem. So far, the network volume in March has only been $1.5 million, and its TVL It’s $80 million. In other words, its size has practically zero utility.
XRP DEX volume and TVL. Source: Defilama
This trading volume and TVL data is an important window into the state of XRP, but there are other important clues as well. For example, according to its own website, XRP currently has 386 nodes and 96 validators.
Comparing this to other major assets, Bitcoin has almost 22,000 nodes, Ethereum has 11,000 and Solana has 4,700.
In other words, common crypto traders don’t seem interested in network utilities. It’s a concern that most communities consider. XRP is primarily a speculative asset.
A global map of all active nodes on the XRP ledger. Source: Livenet
However, there is a counter perspective that the XRP community needs to consider. Although the volume of XRPL DEX remains modest, Ripple continues to establish itself as a key infrastructure provider for global banking institutions.
Ripple’s technology streamlines cross-border payments by reducing payment times, reducing costs and attracting leading banks and financial service providers around the world. This strong institutional focus promotes interest in XRP to support efficient liquidity management.
In this context, the value proposition of XRP exceeds traditional crypto trading. It plays a bigger strategic role in modernizing global financial transactions, bridging traditional funds and filling new digital payment solutions.
So, while low trading volumes in XRPL are of concern, there is good reason that doesn’t match Altcoin’s valuation.
