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Measuring Order Book vs AMM Share on the XRP Ledger

When the AMM amendment activated on the XRP Ledger in 2024, the expectation was that liquidity would migrate into pools the way it did on every smart-contract chain before it.

  • 89% of XRP Ledger volume comes from order books
  • AMM pools account for only 11% of global volume
  • Order books retain viability due to low cancellation costs

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