XRP Ledger’s AMM Update: Because RLUSD Needed More Drama 🎭

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Hold onto your crypto wallets, folks! The XRP Ledger (XRPL) is rolling out its shiny new Automated Market Maker (AMM) feature for RLUSD, the stablecoin that’s been sitting in the corner like the kid who forgot their permission slip. 🏦 This update, set to go live at 7:37 PM UTC (because why not be specific?), comes after validators gave it the green light with an 80% consensus. Because democracy, right?

The XRPL community is buzzing like a hive of crypto bees, expecting a DeFi frenzy post-update. This could mean more liquidity for XRP and fresh trading opportunities on XRPL’s native DEX. Because who doesn’t love a good decentralized exchange? 🐝

Fun fact: AMMs let you trade assets without those pesky order books. XRPL hopped on this bandwagon in March 2024, but RLUSD, launched in December 2024, was left out due to a clawback restriction. Basically, the token issuers can yank back tokens tied to illegal activities or government no-nos. 🚫

AMMClawback Feature

Enter amendment XLS-73d, the hero we didn’t know we needed. This update introduces the AMMClawback feature, letting token issuers reclaim assets in AMM pools while still allowing trading and liquidity provision. A whopping 91.43% of validators approved this amendment, because who doesn’t love a good clawback? 🦀

With this update, issuers can freeze or claw back tokens in AMM pools, ensuring unauthorized wallets can’t deposit paired assets. And get this: any clawback action must now use the specialized AMMClawback function. Because regular clawback transactions are so 2023. 🕰️

The AMMClawback feature’s activation is expected to pave the way for an XRP/RLUSD AMM pool, boosting liquidity for both tokens. Ripple CTO David Schwartz has previously noted that RLUSD could serve as a catalyst for enhancing XRP liquidity. Because nothing says “catalyst” like a stablecoin with a clawback feature. 🚀

XRP Price Action

Meanwhile, XRP is holding steady at $3.10, up 1.3% in the past 24 hours. The daily price action shows a bullish setup, with RSI at 62.06, indicating moderate bullish momentum with room for growth. Because who doesn’t love a good bull run? 🐂

Additionally, the MACD histogram shows a bullish crossover, suggesting a potential continuation of the upward trend. Because charts are basically crystal balls, right? 🔮

Source: TradingView

If the price breaks past immediate resistance at $3.15, it could target the $3.50 level. However, failure to maintain bullish momentum may trigger a retest of support near $3.00. For now, market indicators lean in favor of continued gains. Because in crypto, the only constant is volatility. 🎢

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2025-01-30 15:18