DROP

Edition 11: by a Community Member Andy S.Hi, my name is Drop! There are 1,000,000 drops in one XRP, therefore the supply of $DROP is 1 million.<a href="https://x.com/DropCoinXRPL" rel="noopener noreferrer nofollow">&#64;DropCoinXRPL</a>https:\\<a href="https://xrp-drop.com/" rel="noopener noreferrer nofollow">xrp-drop.com</a>This article is in no way investment advice, but an article that provides insight and chronicles the $DROP community journey.<img src="https://miro.medium.com/v2/resize:fit:1400/0*kWRqgS5NOZwIzjcn.jpeg" /><h2 id="header-0">XRP Ledger</h2>In the fast-moving world of crypto, where ecosystems thrive on trading activity, liquidity, and user engagement, the XRP Ledger (XRPL) stands out — but not for the reasons you might expect. Despite boasting a massive market cap of $173.1 billion (as of February 1, 2025), its 24-hour on-chain DEX trading volume is shockingly low at just $7.8 million. That’s a mere 0.06% of the total volume from major blockchains in the market today.<img src="https://miro.medium.com/v2/resize:fit:1400/1*0rbu1Aafk8gITVlr1PpglQ.jpeg" /><h3 id="so-what-s-going-on-here-let-s-dive-into-the-data">So, what’s going on here? Let’s dive into the data.</h3>Current Market Caps &amp; 24H On-Chain DEX Trading VolumesHere’s a snapshot of the top blockchains and how they compare:<ul><li>Solana (SOL): $112.6 billion market cap | $5 billion 24H on-chain DEX volume</li><li>Ethereum (ETH): $393.7 billion market cap | $2.6 billion 24H on-chain DEX volume</li><li>BNB (BSC): $96.5 billion market cap | $3 billion 24H on-chain DEX volume</li><li>Sui (SUI): $12.2 billion market cap | $200 million 24H on-chain DEX volume</li><li>Toncoin (TON): $12.1 billion market cap | $15 million 24H on-chain DEX volume</li><li>XRP (XRPL): $173.1 billion market cap | $7.8 million 24H on-chain DEX volume.</li></ul><h3 id="strong-the-discrepancy-market-cap-vs-on-chain-dex-trading-volume-strong">The Discrepancy: Market Cap vs. On-Chain DEX Trading Volume</h3>At first glance, XRP’s numbers don’t seem to add up. How can a blockchain with such a high market cap have such low on-chain DEX trading activity compared to its peers?For example:<ul><li>Solana has a market cap of $112.6B and moves $5B daily on-chain.</li><li>BNB sits at $96.5B with $3B in daily on-chain DEX volume.</li><li>Even Toncoin, with a market cap over 14x smaller than XRP’s, sees double the daily on-chain trading volume.</li></ul>The gap is undeniable.<h2 id="header-1">Why Is This Happening?</h2><h3 id="strong-liquidity-market-activity-strong">Liquidity &amp; Market Activity</h3>On-chain trading volume reflects liquidity — how easily assets are bought and sold on decentralized exchanges. XRP’s low volume suggests reduced market activity on the DEX. Whether it’s fewer active traders or large holders sitting on their bags, the XRPL doesn’t see the same turnover as other chains.Here’s the kicker: First Ledger / AMM and LP features only went live a few months ago. Meme coins like <a href="https://x.com/search?q&#61;%24DROP&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">$DROP</a> on XRPL are still in their infancy. It’s not that people aren’t interested — they just haven’t had enough time.<h3 id="strong-ecosystem-engagement-strong">Ecosystem Engagement</h3>Compare this to Solana or Ethereum, where vibrant ecosystems are packed with DeFi protocols, NFT marketplaces, and countless dApps that drive continuous on-chain transactions. XRPL, despite its longevity, hasn’t captured the same level of developer or user engagement.<h3 id="strong-first-ledger-has-already-onboarded-100-000-people-since-october-strong">First Ledger has already onboarded 100,000 people since October</h3>That’s impressive growth in just a few months. Plus, First Ledger has made it possible to create wallets using X, Gmail, and Telegram accounts, making onboarding seamless. The ability to onboard directly from X, the hub of crypto social media, is a game-changer and could accelerate XRPL’s adoption.<h3 id="strong-wallet-accessibility-strong">Wallet Accessibility</h3>Let’s not ignore the elephant in the room: XRPL isn’t integrated with major wallets like Phantom, MetaMask, or Trust Wallet yet. This is a major hurdle. If traders can’t easily access XRPL through their go-to wallets, on-chain DEX trading volume will naturally lag.<h3 id="strong-investor-behavior-strong">Investor Behavior</h3>XRP holders might be more inclined to “hodl” rather than trade actively. With many viewing XRP as a long-term bet, especially given its legal battles with the SEC, the community may simply not be focused on day-to-day on-chain trading.Meme coins now live on the XRPL, we’re likely to see a shift. Degens love volatility, and that’s exactly what new ecosystems provide. Projects like<a href="https://x.com/search?q&#61;%24DROP&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">$DROP</a> are leading the way, showcasing the potential for explosive growth within XRPL’s emerging memecoin landscape.<h3 id="strong-regulatory-overhang-strong">Regulatory Overhang</h3>Ongoing legal scrutiny can create hesitation. Even with recent legal wins, XRP has been under the microscope, which could limit activity, institutional involvement, and cross-border partnerships that would otherwise drive on-chain volume.However, the launch of <a href="https://x.com/search?q&#61;%24RLUSD&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">$RLUSD</a> and clearer regulations could change this narrative fast.<h2 id="header-2">What Does This Mean for XRPL?</h2>While low on-chain DEX trading volume can signal a lack of activity, it might also represent untapped potential:<ul><li>Devs looking for less-saturated ecosystems could see an opportunity.</li><li>Traders might find inefficiencies ripe for arbitrage.</li><li>Communities could reignite interest with new dApps, DeFi innovations, and, of course, meme coins like <a href="https://x.com/search?q&#61;%24DROP&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">$DROP</a>.</li></ul>In short: XRPL isn’t dead — it’s dormant.Final ThoughtsXRP’s $173.1 billion market cap is undeniable proof of its relevance. But a $7.8 million daily on-chain DEX trading volume? Is it a red flag — or maybe a green light, depends on how you look at it.<ul><li>Is XRPL underutilised or just waiting to explode?</li><li>Are we seeing a decline — or the calm before the next wave?</li></ul>The numbers tell a story. But crypto isn’t just about data — it’s about what comes next.Which is likely to be meme coins, green lights, flood gates, and projects like <a href="https://x.com/search?q&#61;%24DROP&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">$DROP</a> leading the charge.<h2 id="header-3">Article Disclaimer</h2>This is not financial advice. Investing in cryptocurrencies, especially meme coins, carries significant risks, where you stand to lose your entire investment. Always do your research (DYOR) and only invest funds that you can afford to lose.<h2 id="header-4">CoinMarketCap</h2><a href="https://coinmarketcap.com/currencies/drop/" rel="noopener noreferrer nofollow">https://coinmarketcap.com/currencies/drop/?source&#61;post_page-----0e7bd10dc8c2--------------------------------</a><h2 id="header-5">$DROP Telegram</h2><a href="https://t.me/DropXRPL" rel="noopener noreferrer nofollow">$DROP</a><img src="https://miro.medium.com/v2/resize:fit:1400/1*tkRgzBn2JOZr3-JvR25FzA.jpeg" />

XRPL: The Dormant Giant of On-Chain Memecoin Trading

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