XRP Ledger (XRPL) is rapidly evolving with significant changes in developer interactions. Over the past year, the protocol has undergone a series of upgrades to increase its functionality and reach on the mainnet. These developments were confirmed by a new X share from CryptoQuant and changes to transaction types in the protocol.
New DEX Rise of XRP Ledger
XRP Ledger is a decentralized Layer 1 protocol with evolving smart contract capabilities. According to CryptoQuant Analyst JA Maartun, there are visible changes in transaction types on XRPL.
“The increase in OfferCreate transactions indicates rising interest in leveraging the platform’s capacity to issue new assets and adopt DEX features.”
The analyst noted an increase in “OfferCreate” transactions, indicating an increase in trading activity on the blockchain network. In particular, he highlighted growing interest in the XRP Ledger’s ability to issue new assets and adopt new DEX features.
RLUSD Stablecoin Usage Area
Learning from other leading layer-1 blockchains, a native stablecoin is central to peak performance and growth. In this regard, blockchain payments company Ripple 
$0.512579 Labs Inc. has decided to launch the RLUSD stablecoin on the XRP Ledger.
Ethereum stablecoin 
$2,503 While a double launch is planned on XRP, it is predicted that its impact on Ledger will be deeper. The firm is in the final stages of testing the RLUSD stablecoin on both blockchains.
As previously reported by Coingape, the stablecoin’s testing includes minting, burning and token transfer features. These features are designed to solidify the functionality of the digital asset so that it can compete in the stablecoin industry.
With RLUSD, XRP Ledger will have the liquidity needed for AMM, DEXs and other smart contracts hosted on the platform.
Current Situation and Developments
In January, the majority of transactions on XRPL were for payments (88 percent), while OfferCreate transactions were at 12 percent. Fast forward to today, and these rates have changed significantly, with both payments and OfferCreate transactions reaching a 50 percent usage rate each.
These developments on XRPL show that the platform provides balanced use in both trading and payment transactions. The integration of the RLUSD stablecoin aims to provide wider usage areas for users by contributing to the increase in liquidity in the ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
