XRP faced criticism over its low decentralized exchange (DEX) volume, raising questions about its utility.
Ripple defended the cryptocurrency’s broader role in global financial infrastructure beyond just DeFi metrics.
There was a heated controversy among the crypto community after a well-known analyst, Aylo, labeled XRP as the “biggest financial scam” in history. His basis for this was what he perceived as a lack of utility in real life despite XRP’s massive market value of $140 billion.
To substantiate his claim, he cited DeFiLlama data, which showed that XRP Ledger’s DEX volume totaled a paltry $44,000 within the last 24 hours.
Source: DeFiLlama
Aylo’s words were controversial at the point at which they were made, as he questioned how something with such a high market cap had such low volume.
He also noted that the total value locked (TVL) on the XRP Ledger stood at a paltry $80.63 million compared with that on other leading blockchain networks. The majority of members of the crypto community felt his concerns.
Ripple’s Chief Technology Officer, David Schwartz, responded to these concerns. He clarified that Aylo’s data may only represent automated market makers (AMMs) on the XRP Ledger, which he referred to as a small percentage of the cryptocurrency’s total usage.
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
Schwartz implied that the volume that had been reported did not reflect the full breadth of XRP’s activity or its broader usefulness in the financial system.
Moreover, Vet, a dUNL Validator for XRPL, also refuted the claims. He clarified that volume on DeFiLlama might not necessarily represent all activity, as not all trades had been accounted for.
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
— Vet (@Vet_X0) March 21, 2025
According to Vet, the actual 24-hour volume on the XRP Ledger DEX totaled nearly $9 million, a much greater number than Aylo’s $44,000.
Despite Low DeFi Activity, XRP’s Utility in Finance Remains Strong
Controversy surrounding XRP’s DEX activity also calls into question its real-world utility on a larger scale. While low volume is argued to reflect poor adoption, Ripple still emphasizes XRP’s role as a part of financial infrastructure, not DeFi speculation.
The company has been actively working with major financial institutions, providing cross-border payment, liquidity, and settlement efficiency solutions.
Ripple’s technology is designed for banks and payment providers to send money faster and at a cheaper rate than on traditional financial networks. Therefore, XRP’s value proposition XRP faced criticism over its low decentralized exchange (DEX) volume, raising questions about its utility.
Ripple defended the cryptocurrency’s broader role in global financial infrastructure beyond just DeFi metrics.
There was a heated controversy among the crypto community after a well-known analyst, Aylo, labeled XRP as the “biggest financial scam” in history. His basis for this was what he perceived as a lack of utility in real life despite XRP’s massive market value of $140 billion.
To substantiate his claim, he cited DeFiLlama data, which showed that XRP Ledger’s DEX volume totaled a paltry $44,000 within the last 24 hours.
Source: DeFiLlama
Aylo’s words were controversial at the point at which they were made, as he questioned how something with such a high market cap had such low volume.
He also noted that the total value locked (TVL) on the XRP Ledger stood at a paltry $80.63 million compared with that on other leading blockchain networks. The majority of members of the crypto community felt his concerns.
Ripple’s Chief Technology Officer, David Schwartz, responded to these concerns. He clarified that Aylo’s data may only represent automated market makers (AMMs) on the XRP Ledger, which he referred to as a small percentage of the cryptocurrency’s total usage.
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
Schwartz implied that the volume that had been reported did not reflect the full breadth of XRP’s activity or its broader usefulness in the financial system.
Moreover, Vet, a dUNL Validator for XRPL, also refuted the claims. He clarified that volume on DeFiLlama might not necessarily represent all activity, as not all trades had been accounted for.
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
— Vet (@Vet_X0) March 21, 2025
According to Vet, the actual 24-hour volume on the XRP Ledger DEX totaled nearly $9 million, a much greater number than Aylo’s $44,000.
Despite Low DeFi Activity, XRP’s Utility in Finance Remains Strong
Controversy surrounding XRP’s DEX activity also calls into question its real-world utility on a larger scale. While low volume is argued to reflect poor adoption, Ripple still emphasizes XRP’s role as a part of financial infrastructure, not DeFi speculation.
The company has been actively working with major financial institutions, providing cross-border payment, liquidity, and settlement efficiency solutions.
Ripple’s technology is designed for banks and payment providers to send money faster and at a cheaper rate than on traditional financial networks. Therefore, XRP’s value proposition
