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XRP Ledger (XRPL) is rapidly evolving with notable changes in developer interactions. Over the past year, the protocol has undergone several upgrades to enhance its functionality and accessibility on the mainnet. These advancements have been corroborated by a new report from CryptoQuant, indicating shifts in transaction types within the protocol.
New Rise of XRP Ledger’s DEX
XRP Ledger is a decentralized Layer 1 protocol with developing smart contract capabilities. According to CryptoQuant analyst J.A Maartun, there are visible changes in transaction types on XRPL.
“The increase in OfferCreate transactions suggests a growing interest in the platform’s capacity to issue new assets and adopt DEX features.”
The analyst noted an increase in “OfferCreate” transactions, which point to a rise in trading activities on the blockchain. He emphasized the increased interest in the XRP Ledger’s ability to issue new assets and adopt new DEX features.
RLUSD Stablecoin Use Case
Learning from other leading Layer-1 blockchains, a native stablecoin is crucial for optimal performance and growth. Accordingly, blockchain payments firm Ripple 
$2 Labs Inc. has decided to launch the RLUSD stablecoin on XRP Ledger.
While plans for a dual launch on Ethereum 
$2,343 are underway, its impact on the XRP Ledger is expected to be significantly deeper. The company is in the final stages of testing the RLUSD stablecoin on both blockchains.
As previously reported by Coingape, the stablecoin tests encompass minting, burning, and token transfer features. These functionalities are designed to solidify the digital asset’s capability to compete in the stablecoin industry.
With RLUSD, XRP Ledger will have the necessary liquidity for AMMs, DEXs, and other smart contracts hosted on the platform.
Current Status and Developments
In January, the majority of transactions on XRPL were payments (88%), while OfferCreate transactions accounted for 12%. Fast forward to today, and these figures have shifted significantly, with both payments and OfferCreate transactions each reaching a 50% usage rate.
These developments on XRPL indicate a balanced use of the platform for both trading and payment transactions. The integration of the RLUSD stablecoin aims to contribute to increased liquidity in the ecosystem, providing broader use cases for users.
