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CryptoIntelligence 2024-05-23 20:14:35

XRPL Transactions Surge Over 100% in Q1 2024 as Average Costs Plummet, Ripple Report Reveals

XRPL Transactions Surge Over 100% in Q1 2024 as Average Costs Plummet, Ripple Report Reveals

The number of transactions on the XRP Ledger (XRPL) more than doubled from the fourth quarter of 2023 to the end of the first quarter of 2024, while the average transaction cost nearly halved, according to Ripple’s Q1 2024 XRP Markets Report. On-chain transaction activity on the XRPL surged by 108% during Q1 of 2024, reaching approximately 251.39 million transactions compared to 121.03 million in Q4 of 2023, as noted in the report published on May 17. Additionally, the average cost per transaction fell by 45%, amounting to approximately $0.000856. “As such, the decrease in average cost per transaction indicated

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