XRP Ledger (XRPL) DeFi TVL in Unusually Bearish Mode

XRP Ledger (XRPL) appears to be in troubled waters as the latest Total Volume Locked (TVL) figures paint a negative picture of the asset. According to data released by DeFiLlama, XRPL’s TVL stands at $269,887.

Why DeFi TVL is important

This figure represents XRPL’s lowest value since April, when it climbed into the million-dollar range. Notably, on April 11, XRPL had $1.94 million worth of assets locked, and its worth rose steadily thereafter. The latest figures signal that XRP needs attention to turn around its fortunes in the industry beyond whale actions.

For context, TVL refers to the total value of an asset staked or locked in a specific protocol. The worth of locked assets can help give investors insight into the entity’s performance. Usually, a higher TVL value indicates a successful project compared to others with lower values.

Therefore, the recent $269,887 figures mean investors are not keen on investing in XRP. This has also shown in its price performance. At the time of writing, data on XRP shows it trading at $0.5967, down 2.04% in the past 24 hours. Similarly, the market volume has dipped 25.61% to $1,112,454,822.

Comparing XRPL with other blockchains

The last time XRPL’s locked assets were this low was Feb. 29, when $288,670 worth of assets were locked.

When compared with other chains like Ethereum, Solana, Tron and Base, XRPL’s low TVL becomes very obvious. Ethereum, for instance, has a TVL of $48.722 billion. Solana, Tron and Base have their TVL at $4.881 billion, $8.181 billion and $1.496 billion, respectively.

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The performance of these other assets shows where investors have flocked in recent days. Despite these seeming setbacks, David Schwartz, Ripple’s Chief Technology Officer, says efforts were on to integrate the technical and financial features of XRP Ledger into its own business.

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