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The XRP Ledger (XRPL) has some hidden metrics that many investors hardly pay attention to. According to data from XRP Ledger Services, the layer-1 network boasts 60,878,621,751 XRP locked in users’ accounts. This is a significant holding, considering that the total XRP supply is 99,987,181,197 XRP.
XRP Ledger core metrics worth watching
As a high-performing protocol, XRP Ledger has a total user count of 5,294,740. This is a significant milestone for the protocol, showcasing its broader reach beyond the primary Ripple Labs ecosystem.
In addition to the user count, 90,337,507 ledgers have been closed on the network already, a testament to the protocol's functionalities since its inception.
XRP Ledger also boasts a total of 39,108,559,446 XRP locked in escrow. This is important as it underscores the backing liquidity for transactions that go on-chain. These escrow funds also cement trust in XRP Ledger smart contracts, a crucial ideal boosting innovations on the protocol like the Automated Market Maker (AMM).
Notably, the Ripple-backed protocol has matched its counterpart in transactions, but more are expected soon.
RLUSD Stablecoin to make the difference
One unique feature of most public blockchains is the presence of a stablecoin that generally powers their liquidity. While USDT and USDC have launched on Ethereum as a native stablecoin, XRP Ledger is about to get its token through Ripple Labs.
The blockchain payments firm is in the last stages of the launch of the USDT rival it dubbed RLUSD. As reported earlier by U.Today, the firm recently conducted test minting for the proposed stablecoin on the XRPL and the Ethereum blockchain.
Ultimately, the goal is for the XRP Ledger to operate at a level comparable to its industry counterparts, and the stablecoin may play a key role.