XRPL AMM v2 adds StableSwap and concentrated liquidity to improve XRP Ledger DeFi execution for stablecoins, FX, and RWAs.
Author: Kritika Gupta
26th May 2026 – The XRP Ledger Foundation has published a new standard that brings concentrated liquidity and StableSwap curves to the XRPL native AMM. Informally called XRPL AMM v2, the proposal marks the ledger’s biggest DeFi upgrade since XLS-30 went live in March 2024.
The standard, titled “Amendment XLS: AMM Swappable Curves,” extends XLS-30 with a pluggable curve architecture. As a result, pool creators can select from multiple invariant functions at creation time. The proposal went live today on the XRPLF GitHub as a Draft.
High Signal Summary For A Quick Glance
MRCΛULIMΛN
@mrcauliman
$XRP community, here’s what I’m watching today. Tomorrow’s main XRPL signal is infrastructure. The fixCleanup3_1_3 amendment is scheduled around May 27. Regular holders don’t need to connect a wallet, sign anything, migrate anything, or “upgrade” their $XRP. The Ledger is
01:43 PM·May 26, 2026
Archie 👑
@Archie_XRPL
🚨 XRPL JUST UNLOCKED UNISWAP V3 + CURVE FINANCE ON STEROIDS! 🚨 The AMM Swappable Curves amendment just dropped - and it’s about to make XRPL DeFi absolutely nuclear. No more one size fits all pools. Now creators can launch:👉 -Concentrated Liquidity (Uniswap v3 style) > https://t.co/q2jCzzeiQz https://t.co/xvv86oj6OW
Today, we’re publishing a new XRP Ledger Standard for AMM v2. New pool curves StableSwap & Concentrated Liquidity increase capital efficiency and stabilize pricing for stablecoins, FX markets, RWAs and beyond on the XRPL DEX. Details: https://t.co/jU9CrXA1tH https://t.co/ImSioPCDNE
01:27 PM·May 26, 2026
Vet
@Vet_X0
XRP Ledger AMM v2 for the next phase of liquidity and tokenization. Much better pricing of asset pools like RLUSD/USDC with StableSwap along the whole liquidity range. Concentrated Liquidity to allow to deploy capital on the XRP Ledger for ranges that matter, instead of the https://t.co/OLK5dcbRAB https://t.co/fmoNtXpp6Q
Today, we’re publishing a new XRP Ledger Standard for AMM v2. New pool curves StableSwap & Concentrated Liquidity increase capital efficiency and stabilize pricing for stablecoins, FX markets, RWAs and beyond on the XRPL DEX. Details: https://t.co/jU9CrXA1tH https://t.co/ImSioPCDNE
01:12 PM·May 26, 2026
High attention and emotional sentiment detected.
The current AMM on XRPL uses a single constant-product curve. This approach spreads liquidity uniformly across the entire price range. While it works, it wastes capital on correlated pairs like stablecoins or FX tokens.
XRPL AMM v2 introduces a CurveType parameter at pool creation. So far, the spec defines three types. CurveType 0 keeps the existing constant-product behavior. CurveType 1 adds concentrated liquidity, following the Uniswap v3 model and CurveType 2 adds StableSwap, following the Curve Finance v1 model.
In addition, two more curve types are reserved for future specs. CurveType 3 targets weighted pools similar to Balancer. CurveType 4 envisions programmable curves using WASM.
Because each pool keys to its CurveType, the upgrade also enables multiple pools per token pair. On top of that, concentrated liquidity pools support fee tiers from 1 to 100 basis points.
Concentrated liquidity lets LPs deposit into specific price ranges instead of the full curve. Providers choose upper and lower price bounds, known as ticks, for their positions. Consequently, capital only serves trades within that range.
This setup dramatically improves capital efficiency. LPs earn more fees per dollar deployed when the price stays in their chosen range. As a result, spreads tighten in active price zones, which benefits traders too.
On XRPL, concentrated liquidity positions become non-fungible. Each position tracks its own range and accrued fees through a new ltAMM_POSITION ledger entry. Meanwhile, a new AMMCollectFees transaction lets LPs claim fees independently.
The spec locks fee tiers at pool creation. This mirrors the Uniswap v3 approach, where different fee levels serve different volatility profiles.
StableSwap uses an amplification coefficient to flatten the bonding curve near a target peg. For pairs that trade close to 1:1, this delivers significantly lower slippage than constant-product math.
The amplification parameter ranges from 1 to 5,000 at creation. A higher value produces tighter pricing around equilibrium. Far from the peg, however, the curve reverts to constant-product behavior as a safety net.
Pool participants can adjust amplification after creation through the existing AMMVote mechanism. Still, those changes face rate limits to prevent manipulation.
This curve type could benefit RLUSD and other stablecoins on XRPL. According to DefiLlama data, RLUSD/XRP already ranks among the top AMM pools on the ledger.
AMM model positioning across liquidity design, use cases, and slippage behavior
The existing AMM (XLS-30) has been live since March 2024. According to xrpscan data, roughly 12.88 million XRP sits across about 29,479 active pools.
Total XRPL DEX TVL stands at about $36.42 million, per DefiLlama. Broader XRPL DeFi TVL sits around $48 million. Meanwhile, the DEX processes roughly $120 million in 30-day volume.
Those numbers remain modest compared to Ethereum or Solana ecosystems. Even so, XRPL AMM v2 supporters argue that better capital efficiency could attract deeper liquidity from institutional players.
Denis Angell (@dangell7) and Roman Thpt (@RomThpt) authored the proposal. An implementation branch already exists in a rippled fork.
The standard currently sits in Draft status without a formal XLS number. Before mainnet activation, validators must vote to enable a new featureAMMCurves amendment.
Neither a validator voting timeline nor a testnet deployment date exists yet. Similarly, the team has not disclosed security audit plans. Still, the proposal maintains backward compatibility. Existing pools will keep running as CurveType 0 without any changes.
Community reaction on X has leaned positive. Infrastructure-focused accounts highlighted the institutional DeFi benefits. At the same time, some observers noted that the real test arrives when liquidity needs to migrate to new curve types.
XRP traded around $1.34 to $1.35 at the time of the announcement. The news did not trigger any significant price movement.
Key milestones related to XRPL AMM evolution
The XLS-30d proposal outlined XRPL’s first native automated market maker design using a constant-product liquidity model.
XRPL activated native AMM functionality, enabling liquidity pools, swaps, and liquidity provision directly at the protocol level.
Early feedback highlighted capital efficiency constraints, stablecoin swap limitations, and the need for more advanced liquidity design.
The new standard proposed StableSwap and concentrated liquidity designs to improve execution for stablecoins, FX pairs, RWAs, and range-based markets.
The next phase depends on validator approval, ecosystem review, and testnet implementation before any potential mainnet upgrade.
XRP Ledger standards follow a community-driven process. Developers post proposals on the XRPLF GitHub, then refine them through feedback before implementing in rippled. After that, validators vote on whether to enable the amendment.
For reference, XLS-30 took roughly two years from proposal to mainnet activation. The XRPL AMM v2 timeline will depend on development progress, testnet results, and validator consensus.
For now, the Draft publication marks the starting line. XRPL developers, liquidity providers, and builders can begin reviewing the spec today.
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