2024

Spot

Coin

<ul class="news-points">
 <li>XRP Ledger transactions surge 108%.</li>
 <li>Transaction fees on XRPL drop 45%.</li>
 <li>XRP price dips despite activity rise.</li>
</ul>
The XRP Ledger (XRPL) experienced a significant increase in transaction volume and a decrease in transaction fees during the first quarter of 2024, according to a report released by Ripple.
The report details that <a href="https://coinedition.com/ripple-partners-with-hashkey-dx-to-introduce-xrpl-powered-solutions-in-japan/" target="_blank" rel="noopener noreferrer nofollow">XRPL transactions</a> surged by 108%, reaching 251.4 million in Q1 2024, compared to 121 million in the final quarter of 2023. Notably, this rise in transaction volume coincided with a 45% decline in the average transaction fee, falling from $0.001546 in Q4 2023 to $0.000856 by the end of March 2024.
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 The Q1 2024 XRP Markets Report is out now: <a href="https://t.co/rd2kKQMNvR" target="_blank" rel="noopener noreferrer nofollow">https://t.co/rd2kKQMNvR</a> Notable market developments in Q1 include: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Continued U.S. demand for BTC Spot ETFs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4f6.png" alt="📶" class="wp-smiley" style="height: 1em; max-height: 1em;"> CEX &amp; DEX volume growth <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2696.png" alt="⚖" class="wp-smiley" style="height: 1em; max-height: 1em;"> Key regulatory &amp; legal updates <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f517.png" alt="🔗" class="wp-smiley" style="height: 1em; max-height: 1em;"> Technical blockchain upgrades including AMM on the <a href="https://twitter.com/hashtag/XRPLedger?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRPLedger</a>— Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1791564020064940082?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 17, 2024</a>
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The report attributes the decrease in fees to a return to normal activity levels on the XRPL without network congestion in Q1 2024. A spike in December 2023 due to testing on the ledger had previously contributed to higher fees.
While the report hi…
The post <a href="https://coinedition.com/xrp-ledger-transaction-surge-vs-declining-wallet-creation/" rel="noopener noreferrer nofollow">XRP Ledger: Transaction Surge vs. Declining Wallet Creation</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

XRP Ledger: Transaction Surge vs. Declining Wallet Creation

Coin Edition

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