Ripple’s native digital currency XRP, remains a hot spot among investors despite recent fluctuations in trading performance and ongoing legal battles. Particularly, the latest developments in the crypto industry surround the launch of the Automated Market Maker (AMM) feature on the XRP Ledger (XRPL), which is awaited with great interest by the XRP community and the general crypto audience.
Meanwhile, amid fluctuating optimism, Ripple’s CTO caught the attention of crypto market enthusiasts when he shared security guidelines on the use of the AMM feature.
AMM Launch Excited the Community
The announcement of the release of AMM feature on XRP Ledger created significant enthusiasm among investors and crypto enthusiasts. This feature, which was announced more than a year ago, is finally coming to light after the meticulous work of Ripple Labs developers.
As XRP Ledger moves towards gaining a foothold in the expanding world of Decentralized Finance (DeFi), the implementation of the AMM feature presents an attractive opportunity for the network to compete in the field of smart contract platforms.
Meanwhile, this feature on the XRP Ledger simplifies token swapping, facilitating the emergence of decentralized exchanges dominated by platforms like Uniswap on Ethereum.
However, despite the positive update, XRP price is down 2.50% to $0.6145 at the time of writing, and trading volume is down 36.54% to $1.76 billion in the last 24 hours. Although the crypto has lost about 4% in the last seven days, it has gained about 14% on a monthly basis.
