The XRP Ledger is preparing for an upgrade to introduce an Automated Market Maker (AMM) – XRP price

The XRP Ledger is preparing for an upgrade that will introduce an Automated Market Maker (AMM) into its ledger. This AMM will serve as an opportunity for XRP hodlers to earn on-chain income by becoming liquidity providers.
Current altcoin validators are currently voting on the proposal, and data indicates a consensus rate of 60%.
XRP Ledger prepares for upgrade
The XRP Ledger is in the process of modifying its blockchain to introduce an AMM trading platform integrated into the ledger. AMM enables cryptocurrency transactions using liquidity pools in a permissionless manner.
This proposal has garnered support from validators since its introduction. According to Panos Mekras, the founder of Anados Finance, 20 validators have approved the XLS-30d modification. The consensus rate is reported as 62.86% according to data from XRPScan



AMM eliminates the need for an order book, thereby reducing both latency and transaction costs. The modification will provide traders with the opportunity to trade with liquidity pools, thus offering liquidity regardless of market conditions.
XRP network activity is declining
The past 30 days haven't been the best for XRP in terms of network activity, as several key metrics have decreased. Starting with daily active addresses.
This metric, after surging on December 30th, began a steady decline, and at the time of writing, this trend seems to persist.
The number of transactions and transaction volume on the blockchain has also moved south during the same period, which appears concerning as it indicates less activity on the network.


The fate of XRP's price is also following a similar trend, as it recorded a double-digit decrease last month. In fact, within the last seven days alone, the token's value has dropped by nearly 10%.
At the time of writing, XRP is trading at $0.513 with a market capitalization of over $27.8 billion.
It's interesting to note that while the token's price is decreasing, whales have seized the opportunity to buy in.
The number of XRP whale transactions has surged in the past few days. Does this mean that the confidence of whales will have a positive impact on XRP's price?
Data from Hyblock Capital indicates that XRP has strong support near the $0.49 mark, suggesting that its price may drop to that level before initiating an upward movement.

In fact, some market indicators also suggest a similar possibility. For example, the Chaikin Money Flow (CMF) of the token is showing a slight downward trend.
Its MACD indicator also indicates a clear bearish advantage in the market, signaling a continued price decline.
However, some other metrics tell a different story. The Money Flow Index (MFI) of the token is about to enter the oversold territory, which could increase buying pressure.
Additionally, the price of XRP has touched the lower limit of the Bollinger Bands, indicating that the price may rebound before potentially dropping to $0.049.