LATEST: Ripple’s Q1 Report Shows a Healthy Growth in XRP

Ripple’s Q1 report shows a healthy upward trajectory in terms of the growth of the XRP ecosystem. XRP spot volumes rose 40% higher in Q1 to $865 million, and daily average open interest in XRP derivatives leaped five times to $500 million. Direct transactions on the ledger have also nearly doubled, which implies that the level of market participation is relatively healthy. In turn, XRP transaction cost efficiency has further improved, with the average fee per transaction falling 44%, even though the network performance improved, and congestion dropped. In the meantime, on-ledger transactions have doubled in XRP burned from onboard transaction fees.

Although the process of creating new wallets and the price of XRP had come down significantly, the activity in the overall market had been quite the same. And there is no lying that Ripple-XRP holds more than 4.8 billion XRP in wallets and another 40 billion that are locked up in escrow; in this case, the supply was staggered. The commitment to re-escrow is good financial management by Ripple for the future stability and growth of XRP.


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