XRP Price Analysis: Can the Amendment Spark New All-Time Highs?

The XRP Ledger (XRPL) is set to vote on a new amendment that would allow users to create an Automated Market Maker (AMM) pool for the newly-released stablecoin

The XRP Ledger (XRPL) is set to vote on a new amendment that would introduce the possibility of creating an Automated Market Maker (AMM) pool for the newly-released stablecoin, RLUSD. This move would add another use case to the real-world asset-backed stablecoin, which was launched in December by American fintech firm Ripple.

According to the official documents, the amendment would allow the creation of the AMM pool. This, in turn, would enhance liquidity and trading efficiency within the XRP ecosystem, including the XRPL DEX.

The benefit of AMMs lies in their ability to automate the trading process by using liquidity pools instead of traditional order books. This enables quick token swaps with minimal slippage.

The inclusion of RLUSD, a real-world asset-backed stablecoin, would further bolster XRPL's DeFi capabilities, potentially attracting more users and institutional players.

If passed, the amendment could increase XRP's utility, driving demand and possibly leading to new all-time highs for the altcoin.

It's worth noting that the XRPL launched the AMM functionality back in December 2024. This allowed members of the XRP ecosystem to earn while providing liquidity. However, holders of RLUSD have been unable to participate in the AMM functionality due to a clawback feature. This feature allows the entity behind the token to recall the assets that could potentially be used for illicit activities.

1/ The XLS-30 AMM is now live on #XRPLedger!

XLS-30 is an evolution of XRPL’s native DEX, introducing a first-of-its-kind approach to on-chain market-making and liquidity.

Learn more here: https://t.co/boW1wX0GDiXRP Price Analysis: Can the Amendment Spark New All-Time Highs?

XRP is trading at $3.11 at the time of writing, down 0.40% in the past 24 hours, according to CoinMarketCap data.

Notably, the RSI indicator below reads a value of 62.04. This indicates that the bulls are currently in control of the altcoin's price action. The gradient of the line suggests that the buyers are attempting to break the prevailing consolidation phase of XRP and push the token higher.

Related: Whales Drive XRP and ADA Bullish Surge: Will New All-Time Highs Follow?

The price action of XRP is situated in the upper end of the Bollinger Bands. This suggests that, overall, the altcoin’s price trajectory is bullish. The upper trendline acts as resistance for the XRP price action and a breakout above it could signal new ATHs for the coin.

Related: XRP Targets $3.62 After Completing ABC Correction

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