The decentralized exchange (DEX) on the XRP Ledger has reached $400 million in swap volumes in January, according to Ripple Labs CEO Brad Garlinghouse. The DEX has seen an average of $17 million in daily volumes this month, totaling over $1 billion since its 2024 launch. Garlinghouse credited the rapid expansion of the DEX as one of the main reasons why 2024 was a monumental year for Ripple. The DEX offers an order book system where users can trade XRP and other assets issued on the XRP Ledger. This growth is seen as promising for Ripple, particularly with the potential for a pro-crypto Trump administration and the introduction of proposed XRP exchange-traded funds.



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