The XRP Ledger (XRPL) has introduced a significant feature for institutional-grade decentralized finance (DeFi) with the launch of a native “Price Oracle” feature, as announced by RippleX. This new feature, defined in the XLS-47 specification, allows XRPL to store and use external asset pair pricing information within its ecosystem. The oracle system securely feeds real-world data onto XRPL, enabling smart contracts on the network to access this data, which is crucial for DeFi applications.

This native oracle functionality is built directly into the XRPL protocol, similar to XRPL’s automated market maker (AMM). Additionally, external oracle providers, such as Band Protocol and DIA, can integrate with XRPL to deliver price feed data. This feature supports XRPL’s ambitions to expand into institutional DeFi by making it easier for decentralized applications (dApps) to use reliable pricing information. Show Less