According to PANews, Ripple CEO Brad Garlinghouse announced on January 28 that the native decentralized exchange (DEX) on the XRP Ledger recorded a swap trading volume of $400 million in January, averaging approximately $17 million per day. Since its launch in 2024, the DEX has processed over $1 billion in cryptocurrency swap transactions.
Garlinghouse highlighted this rapid growth as one of several reasons why 2024 was a landmark year for Ripple. Other contributing factors include the early but promising traction of Ripple's USD stablecoin, RLUSD, and several proposed XRP ETF applications.
He further noted that investment bank JPMorgan estimates that XRP ETFs, proposed by asset management firms such as Bitwise and WisdomTree, could attract over $8 billion in inflows to XRP.