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XRP Ledger (XRPL) appears to be in troubled waters as the latest total locked volume (TVL) figures paint a negative picture for the asset. According to data published by DeFiLlama, XRPL’s TVL stands at $269,887.
Why DeFi TVL Matters
This figure represents the lowest value of XRPL since April, when it climbed into the $1 million range. Notably, on April 11, XRPL had $1.94 million worth of locked assets, and its value has been steadily increasing since then. The latest figures indicate that XRP needs attention to turn around the industry beyond whale actions.
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For context, TVL refers to the total value of an asset staked or locked in a specific protocol. The value of locked assets can help investors better understand the performance of the entity. Generally, a higher TVL value indicates a successful project compared to others with lower values.
Therefore, the recent figures of $269,887 mean that investors are not keen on investing in XRP. This has also been reflected in its price action. At the time of writing, XRP data shows that it is trading at $0.5967, down 2.04% in the last 24 hours. Similarly, the market volume has dropped by 25.61% to $1,112,454,822.
Comparing XRPL to other blockchains
The last time XRPL locked assets were this low was on February 29, when $288,670 worth of assets were locked.
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Compared to other chains like Ethereum, Solana, Tron, and Base, XRPL’s low TVL becomes very evident. Ethereum, for example, 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.
The performance of these other assets shows where investors have been flocking in recent days. Despite these apparent setbacks, Ripple CTO David Schwartz says efforts have been made to integrate the technical and financial features of the XRP Ledger into its own business.
