Surge in XRPL Transactions in Q1 2024 According to Ripple’s Report

by Giorgi Kostiuk

2 years ago

Made with AI

According to Ripple's Q1 2024 XRP Markets Report, the volume of transactions on the XRP Ledger (XRPL) increased by more than 100% from Q4 2023 to Q1 2024, while the cost per transaction dropped about 45%.

There was a significant increase in on-chain transaction activity for XRPL during Q1 2024, reaching approximately 251.39 million transactions compared to 121.03 million in Q4 2023. The average cost per transaction decreased to around $0.000856, indicating a reduction of 45%. The report also highlighted the distribution of traded volume across different exchanges, with Binance, Bybit, and Upbit leading the way.

One ongoing point mentioned in the report was the legal dispute between Ripple and the US SEC, which began in December 2020. The SEC alleged that Ripple executives had raised funds through an XRP IPO, which they deemed an unregistered security. Ripple disagreed with the SEC's proposed $2 billion in remedies, asserting that the SEC lacked the authority to demand such remedies without demonstrating harm to any party.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Bitwise Asset Management Raises Bitcoin Price Projection to $1.6 Million by 2036

Bitwise Asset Management has raised its long-range Bitcoin price projection to $1.6 million by 2036, reflecting significant growth expectations based on anticipated institutional allocations and demand for scarce assets.

Filippo Romano21 minutes ago

Movantis Integrates Stellar for Enhanced Cross-Border Payments

Movantis and the Stellar Development Foundation announced on October 29 that Stellar will become a settlement option in Movantis' multirail payment network, focusing initially on USDC settlements for transfers from the US to El Salvador.

Emily Carteran hour ago

Pontoro and Archax Introduce Automated Liquidity Pool on Stellar

Pontoro and Archax have launched an Automated Liquidity Pool on the Stellar network during Meridian 2026, combining liquid money market assets with private market fund exposure.

Tomas Novak2 hours ago

Chainlink Launches 24/7 Pricing Service for Onchain Assets

Chainlink has launched a new service that provides a continuous price series for assets, solving the issue of unreliable pricing during off-hours for onchain applications.

Maya Lundqvist3 hours ago

Securitize Announces Integration with Stellar Network

Securitize announced plans to integrate the Stellar network into its infrastructure for institutional asset managers, enhancing the management of tokenized financial assets.