XRP Ledger ( XRPL ) experienced a significant increase in transaction activity in the first quarter of 2024.
According to the latest XRP market report from Ripple , the number of on-chain transactions in XRPL jumped by 108% compared to the fourth quarter of 2023.
Additionally, average transaction fees have also fallen by 45%, making it a more efficient and affordable network.
Increased Transactions and Reduced Fees

Average fees per transaction on XRPL fall 45% in the first quarter of 2024 – Source: Ripple
Ripple's report shows that XRPL recorded 251.39 million on-chain transactions during the first quarter of 2024, compared to 121.03 million transactions in the fourth quarter of 2023. This increase shows tremendous growth in XRPL network activity.
Along with the increase in transactions, the average transaction fees on XRPL also decreased significantly by 45%.
Average transaction fees fell from $0.001546 in the fourth quarter of 2023 to $0.000856 in the first quarter of 2024. This decrease in fees shows that the XRPL network is operating more efficiently and is affordable for users.
XRP Transaction Volume Growth
In addition to increasing transactions and decreasing fees, Ripple's report also highlights the growth in XRP transaction volume on XRPL's native decentralized exchange ( DEX ).
XRP trading volume on DEX increased by 5% quarter-on-quarter, from $54.9 million in the fourth quarter of 2023 to $57.6 million in the first quarter of 2024.
The growth in XRP transaction volume on DEXs indicates increasing interest and use of XRP as a trading asset on decentralized platforms. This could be a positive indicator for wider adoption and use of XRP in the future.
XRP Token Burning Increases
https://youtu.be/sVTybJ3cNyo
Ripple's report also revealed that the number of XRP tokens burned for transaction fees doubled in the first quarter of 2024 compared to the fourth quarter of 2023.
XRPL recorded a burn of 636,184 XRP in the first quarter, a 101% increase from the 317,271 XRP burned in the fourth quarter of 2023.
An increase in XRP burning indicates that XRPL network activity is increasing and more transactions are being carried out.
XRP burning also contributes to a reduction in the circulating supply of XRP, potentially affecting the future price of XRP.
Decreasing Number of New Wallets
Despite the increase in transactions and network activity, Ripple's report shows a decrease in the number of new XRP wallets created in the first quarter of 2024.
The number of new wallets fell by 11%, with only 185,809 XRP wallets created in the first quarter, compared to 208,522 new wallets in the fourth quarter of 2023.
The decline in the number of new wallets may indicate reduced interest by new investors in XRP or may also be due to seasonal factors. However, it is worth noting that this decrease did not affect the overall XRPL network activity, which instead showed a significant increase.
Overall, the latest XRP market report from Ripple shows tremendous growth in on-chain transaction activity in XRPL in the first quarter of 2024.
A 108% increase in transactions and a 45% decrease in average transaction fees demonstrate the efficiency and affordability of the XRPL network.
Additionally, the growth in XRP transaction volume on DEXs and increased XRP burning are also positive indicators for wider adoption and use of XRP.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#XRPL #XRPledger

During the first quarter of the year, the number of transactions conducted on the XRP Ledger (XRPL) surged by 108%, while fees dipped by 45%.

Read more on: https://thecryptobasic.com/2024/05/18/xrp-ledger-transactions-soar-by-108-in-q1-2024-as-fees-plunge-by-45/
#XRPledger #Crypto #CryptoNews🚀🔥" #CryptoNewssCommunity

XRPL Services, an XRPL service provider that offers various tools for the XRP Ledger and Xumm wallet, just exposed a new scam method used by scammers to target users on X.
Read more on: https://thecryptobasic.com/2023/12/18/xumm-focused-xrpl-product-exposes-new-method-used-by-scammers-to-target-xrp-investors/
#XRPledger #XRPL #Xumm #cryptocurrencry #CryptoNews🔒📰🚫

The XRP community has begun touting the arrival of CBDCs and stablecoins like USDC on the XRP Ledger (XRPL) as the Clawback amendment reaches validator consensus.
Read more on: https://thecryptobasic.com/2024/01/26/cbdcs-and-stablecoins-like-usdc-eye-xrp-ledger-amid-clawback-amendment-consensus/
#XRPledger #XRPLUpgrade #Crypto #CryptoNewsUpdate #CryptonewswithJack

Ripple’s Chief Technology Officer, David Schwartz, has highlighted the potential hazards linked to the experimentation of smart contract-like capabilities in the XRP Ledger through Hooks.

Read more on: https://thecryptobasic.com/2024/01/26/ripple-cto-says-hooks-could-pose-multibillion-dollar-risk-for-xrpl-users/
#XRPLHooks. #XRPledger #XRPLUpgrade #Crypto #CryptoNewsUpdate

The XRP Ledger (XRPL) is on the verge of a noteworthy transformation with the impending activation of the fixReducedOffersV1 amendment, securing over 80% validator approval. This development signals a crucial upgrade for XRPL, requiring users on rippled v1.11.0 or earlier versions to promptly update for continued participation.
Key Upgrade: fixReducedOffersV1

The fixReducedOffersV1 amendment holds the promise of refining the XRPL's functionality by addressing the prevalence of order books obscured by reduced offers. This amendment, having garnered significant validator support, is set to undergo a two-week activation countdown phase. Users are strongly advised to embrace the latest XRPL version to seamlessly engage as node providers or in other specified protocol functions.
Impact on Decentralized Exchanges (DEXs)
From the taker's perspective, the fixReducedOffersV1 amendment introduces a significant improvement to XRPL decentralized exchanges (DEXs). By rounding the exchange rate of a reduced offer, this amendment aims to make it more favorable than the original offer. In scenarios where other offers match the original, the reduced offer becomes consumable. Without such amendments, reduced offers would present unfavorable exchange rates after rounding, hindering the acceptance of more favorable requests. This has particular implications for decentralized brokerage platforms operating on the XRPL.

Continuous Evolution: XRPL Version 1.12.0 and Beyond
September witnessed the launch of XRPL version 1.12.0, a release that introduced crucial features including fixReducedOffersV1. This update also encompassed bug fixes and amendments related to the Automated Market Maker (AMM) and Clawback function. Users were mandated to upgrade to the latest version by September 20 to avoid potential disruptions. Furthermore, the XRPL update became a prerequisite for participating in the voting process for subsequent amendments like XLS-30.
Positive Outlook and Security Measures

The XRPL has experienced a series of internal and external enhancements, contributing to its optimistic trajectory. The successful completion of the latest security audit for the Xahau sidechain further fortifies the platform's security measures, instilling confidence in its users.
As XRPL gears up for these significant changes, the cryptocurrency community eagerly anticipates the positive impact on functionality and user experience. The commitment to regular updates and improvements underscores XRPL's dedication to staying at the forefront of technological advancements within the dynamic landscape of decentralized finance.

#etf #BTC #ripple #XRPledger

The XRP Ledger has seen a surge in NFT minting activity, with a single project creating over 1 million NFTs.
#XRPL #XRPledger #Crypto #cryptonewstoday

#Metamask The first XRPL protocol sidechain, Xahau, has launched, marking a significant milestone for XRP Ledger.The launch of the Xahau network has been highly anticipated since the whitepaper was released in August.According to an exciting announcement made by XRPL Labs on Oct. 31, Xahau Codebase passed a comprehensive security audit by FYEO, which delved into key areas of Xahau such as burn to mint, hooks installation and execution, governance game, and rewards.Singapore-based crypto exchange Bitrue has announced support for Xahau and its native token, XAH. Bitrue announced the XAH listing under the XAH/USDT pair today and a welcome bonus of 1,000 USDT for new users to claim.As the Xahau Network goes live, XRP forensics, an X account tasked with combating financial fraud on XRPL, reiterated a warning to the XRP community.As @XahauNetwork is now live, it is important to reiterate this. No airdrops, no giveaways, don't share your keys.If you want to trade XAH on the DEX, wait for trusted issuers to issue, such as @GateHub. Current XAH issuers are fake and are stealing your money. https://t.co/YrBYk4KMpE— XRP Forensics (xrplorer.com) (@xrpforensics) November 1, 2023The XRP community is reminded that there are no airdrops or giveaways and that they should not share their keys with anyone.Furthermore, if they wish to trade XAH on the DEX, they should wait for trusted issuers, such as GateHub, to issue. Current XAH issuers are fraudulent and intend to steal funds.A similar warning was shared by Alloy Networks' official X page, informing the $XRP community that there is currently no XAH IOU on #XRPledger and that they should not purchase IOUs from any random issuer.This warning was reiterated by X user "Ekiserrepe," who urged the #XRPcommunity to be cautious because there are fake XAH IOU issuers on XRP Ledger. Users of #XRPL are recommended to verify these issuers before taking any action, including checking their origin and whether there are any public statements from the exchanges.#BTC

The Ripple CTO David Schwartz recently revealed the allotment of 99% of the total XRP supply at the XRP Ledger (XRPL) genesis block of 32,570.
Read more on: https://thecryptobasic.com/2024/01/19/david-schwartz-reveals-who-held-99-of-xrp-supply-at-the-xrpl-genesis-block/
#XRPUnleashed #XRPledger #cryptocurrecny #CryptoNewsLand #CryptoNews🔒📰🚫

#BTC Pro-XRP lawyer Bill Morgan shares positive news with the XRP community regarding XRP Healthcare, the first pharma and healthcare platform on the XRP Ledger (XRPL). In a historic move following Ripple Labs, XRP Healthcare announces expansion into the thriving healthcare markets of Dubai and the Middle East.XRP Healthcare Focus On The Middle EastAccording to a press release, XRP Healthcare recognizes the Middle East’s forward-thinking approach to blockchain and crypto regulation, which is more favorable and progressive than many other jurisdictions, including the United Kingdom. This strategic expansion aims to benefit from and harness the untapped potential of blockchain technology in healthcare, legislation, investment, and new partnerships, ultimately benefiting consumers and token holders alike. XRP Healthcare’s creator, Kain Roomes, stated: “This move represents a significant leap in our journey, combining blockchain technology’s transformative power with healthcare innovation.” The Middle East and Dubai provide an exceptionally rich environment for our endeavors.XRP Healthcare adopts the Middle Eastern approach to blockchain and cryptocurrency legislation. By strategically expanding, the #XRPledger ’s unrealized potential in healthcare, law, investment, and new collaborations will be tapped upon. Both token holders and customers will gain from this. The legal system in Dubai is progressive, which encourages growth and innovation in the blockchain and cryptocurrency industries. The organization has shown significant dedication to fostering a more promising future for healthcare through the implementation of mergers, acquisitions, and blockchain innovation, as seen by its expansion into Dubai and the Middle East. Earlier in the year, XRP Healthcare teamed with The Burnratty Investment Group. The firm has a unique strategy incorporates mergers and acquisitions, rolling up and combining lucrative medical practices and facilities throughout Africa. As previously disclosed by XRP Healthcare, this sets up the business for a potential Initial Public Offering (IPO), which will present an exciting chance for holders of shares and tokens.The long-term goal of $XRP Healthcare is to expand the project, which will have a significant impact on healthcare experiences for consumers around the world. The company’s entry into Dubai and the Middle East demonstrates its dedication to using mergers, acquisitions, and blockchain innovation to improve healthcare.Adopting XRPL For quicker and less expensive transactions, several projects are adopting #XRPL . Together with Uphold, Xumm wallet offers a transaction cost of 0% for Topper transactions. In addition, Ripple and Uphold have teamed to improve international payments.#lastpass #tia

Leading cybersecurity firm Bishop Fox has completed a thorough security audit of the XRP Ledger’s (XRPL) EVM sidechain implementation. 
Read more on: https://thecryptobasic.com/2023/11/18/xrpl-one-step-closer-to-welcoming-evm-sidechain-as-security-firm-completes-audit/
#XRPledger #XRPLUpgrade #Crypto #CryptoTradingTip #CryptoNews🔒📰🚫

Blockchain payments company Ripple Labs has opened applications for the XRP Ledger (XRPL) Campus Ambassadors program, as it creatively plans the future of the protocol.
Read more on: https://thecryptobasic.com/2023/11/21/ripple-launches-xrpl-campus-ambassador-program-to-incentivize-community/
#RippleUpdate #XRPledger #Crypto #CryptoPassion #CryptoNews🔒📰🚫

#Write2Earn Disclaimer: The opinions expressed by our writers are their own and do not represent the views of @WISE CRYPTO NEWS . The financial and market information provided on @WISE CRYPTO NEWS is intended for informational purposes only. @WISE CRYPTO NEWS is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.In a new tweet, RippleX reported an issue with the AMM amendment, which adds Automated Market Maker (AMM) capabilities to the #XRPledger .On Jan. 31, the AMM amendment received a majority vote and may be activated on the mainnet within 14 days.In its tweet, RippleX states that it discovered during extended integration testing that the AMM does not function as planned over time, an issue that might prohibit multiple AMM #transactions from executing in the same ledger. As a result, it has proposed and is reviewing a fix.1/ In extended integration testing to ensure the AMM performs as intended over time, we identified an issue that could prevent multiple AMM txs from executing in the same ledger. We have proposed and are reviewing a fix: https://t.co/MPMKuI8dDK— RippleX (@RippleXDev) February 1, 2024That issue arises in an edge case where the trading fee is less than 0.01%; certain AMM transactions must wait for one ledger (3-5 seconds) before being executed.It explains further that accessing specific default fields belonging to AMM inner objects may prevent a transaction from succeeding in certain cases. When a ledger contains "AMM create" and the trading fee is less than 0.01%, AMM transactions must wait for the next ledger (3-5 seconds) to succeed.RippleX noted that there was no issue if the trading fee was greater than or equal to 0.01%. However, if the trading fee is less than 0.01%, this issue arises.The proposed fix provides a way for an inner object to correctly identify default fields and is implemented in both the core ledger and AMM code.In all circumstances, AMM behavior is accurate, and the issue does not affect ledger stability. Nonetheless, the fix can eliminate edge cases and ensure the AMM always performs as expected.The knowledge of the AMM amendment bug has not deterred support for it in any way.$XRP Scan and XRP Ledger explorer and blockchain analysis platform express support for the AMM amendment, citing the low impact and non-breaking nature of the bug as well as a known workaround.As reported, RippleX announced the release of rippled (XRP Ledger Server) Version 2.0.1, a software upgrade that introduced several improvements and bug fixes during the week. The rippled v2.0.1 update allowed for voting on amendments, which include the AMM.#TrendingTopic #JUP

#Write2Earn AMM amendment adds automated market maker capabilities to XRP LedgerRipple CTO David Schwartz joins a discourse on X about the mainnet activation of AMM on XRP Ledger (XRPL) following a setback in the past week. The AMM amendment, which stands for automated market maker, adds automated market maker capabilities to XRP Ledger.Unfortunately, that probably wouldn't give people quite enough time to upgrade and would risk amendment blocking too many nodes. At least an extra week or two is probably going to be needed.— David "JoelKatz" Schwartz (@JoelKatz) February 10, 2024The AMM amendment was anticipated to be activated on XRPL on Feb. 14, 2024, after achieving the required 80% consensus at January's close. However, the amendment suffered a setback when some validators withdrew their support due to a bug uncovered by RippleX during extended integration testing.The bug pertains to an AMM edge case effect that might prevent multiple AMM transactions from executing on the same ledger and does not affect ledger stability in any way.The proposed fix would eliminate the edge case, allowing an inner object to accurately identify default fields, and would be implemented in both the core ledger and AMM code.AMM bug fix pushed into Rippled 2.1According to earlier updates shared by "Vet," an XRPL validator, the $XRP Ledger automated market maker inner object edge case fix has been merged and is ready to be published in the next Rippled version.In this regard, the Rippled 2.1 release candidate has been proposed, which includes the fix for the #XRPledger AMM edge case. "Vet" anticipates one to two weeks of testing before the formal release.Along these lines, the Ripple CTO joins the #XRPcommunity 's conversation on AMM mainnet activation, keeping in mind the anticipated Rippled 2.1 release. XRPL validator Vet expressed his belief that the activation timer for the AMM amendment may begin ticking soon after Rippled 2.1 is released.Ripple CTO David Schwartz believes otherwise, claiming that this would not provide enough time for upgrades and would risk blocking too many nodes. He estimates it will take at least another week or two until the activation timer restarts.An #XRPL  amendment can only be activated on the mainnet if it sustains at least 80% support from trusted validators in two weeks. If support falls below 80%, the amendment is temporarily rejected, and the two-week time frame resumes.#TrendingTopic

For a limited time, Xumm, in a new partnership with Uphold, is enabling users to buy XRP for zero fees.
Read more on: https://thecryptobasic.com/2023/10/30/xrp-wallet-xumm-to-let-users-buy-xrp-with-zero-fees/
#XRP #Xumm #XRPledger #CryptoOpportunities