Doppler Finance recently officially launched as the first decentralized finance (DeFi) protocol for the XRP Ledger ecosystem, signaling a major development for the network. Backed by investments from Ripple Eco Fund and Futureverse, Doppler Finance is positioned to drive the growth of DeFi on XRP.
Real Vision’s Raoul Pal reacted positively to the news, explaining that as more applications like DeFi are built on top of XRP, the network’s overall value will increase. In an interview with The Paul Barron Network, Pal said that the XRP Ledger’s potential is amplified when more use cases are developed, noting that the lack of practical use had previously limited its market impact.
“The more that’s built on top of XRP, the more value will be created,” Pal stated. He added that as more users begin utilizing XRP in different applications, the network’s value will grow, transforming it into something much larger than its original purpose.
Pal also said, “So XRP is in an exalted situation because there are a lot of holders, but the activity was, you know, under pressure because of regulation and lawsuits.” He explained that the XRP Ledger has some reasonable use, but if new applications like DeFi are built on top of it, the value can only increase if people start using it more.
Doppler Finance’s success, combined with the recent emergence of XRP stablecoins gaining market share, suggests that the ecosystem is beginning to see substantial growth. While it remains early in the development of DeFi on XRP, the potential for increased exposure and network value looks promising, paving the way for future applications and growth.
