Ripple Unveils Strong Growth of XRP in Q1 According to Latest Report

Welcome, crypto enthusiasts! Let’s dive into the latest insights from Ripple’s Q1 report, which showcases some exciting developments within the XRP ecosystem.

The report highlights a significant surge in both volume and transactional activity for XRP, marking a period of notable growth.

During the first quarter of 2024, XRP spot volumes soared by 40% compared to the previous quarter, totaling a robust $865 million. Additionally, daily average XRP derivatives open interest spiked by $500 million, reflecting a vibrant market environment.

On-chain transactions surged by an impressive 108% from the previous quarter, totaling 251,397,881 transactions. The average cost per transaction in XRP also experienced a significant 44% decrease, showcasing a more cost-effective network.

Moreover, XRP burned for transaction fees saw a notable 101% increase, reaching 636,184 in the first quarter of 2024. The dollar volume on DEX platforms saw a 5% uptick, underscoring growing activity in the decentralized exchange space.

Despite a 5% dip in XRP price, the ecosystem remained vibrant. The number of new wallets created fell by 11% to 185,809, reflecting shifting trends in user behavior.

Ripple’s disclosure of XRP holdings revealed a meticulous categorization, distinguishing between available XRP in wallets and XRP subject to on-ledger escrow lockups. This strategic approach ensures a gradual release of XRP over the next 42 months.

As of March 31, 2024, Ripple held 4,836,166,156 XRP, with an additional 40,100,000.005 XRP subject to on-ledger escrow. This transparency underscores Ripple’s commitment to a structured and controlled release of XRP into the market.

🚀 Ailtra Crypto Bot Earned $13.4M Million in 11 Months with 0% Loss!

🚀 Ailtra generated $13.4M in 11 months only!

Unlock 15-55% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 15th Aug: an AI Crypto Bot boasting 15%-55% monthly gains and $13.4M earnings in 11 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,500 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.