Ripple's Q4 2024 XRP Markets Report Shows a Strong Revival in On-Chain Activity, Trade Volume, and Institutional Interest

In the last quarter, an important shift brought for XRP, with growing adoption and market resting his performance to new highs.

Ripple's Q4 2024 XRP Markets report highlights a strong revival in on-chain activity, trade volume, and institutional interest.

In the last quarter, a pivotal shift occurred for XRP, with growing adoption and market performance reaching new highs.

XRPL reaches $1 billion on DEXs as on-chain activity booms

The number of transactions on XRP Ledger (XRPL) saw a slight decrease, dropping by 2.86% to 167 million in Q4 2024. However, the overall involvement on the network increased, according to Ripple's latest market report.

The Automated Market Maker (AMM) feature, introduced in March, saw the Swap volume rise from $31.23 million in Q3 to $774.15 million in Q4. This boosted the XRPL DEX trade, which grew from $63.4 million to $1 billion.

In total, AMM swaps accounted for 77% of the total transactions, highlighting their growing influence on the network.

Network adoption also reached record highs for XRPL. New wallet registrations rose from 140,000 in Q3 to 709,000 in Q4, reflecting a sharp increase in user participation.

Since Trump's election victory, the average XRP slot rate increased from $0.55 to $1.43, peaking at $2.80 by the end of December 2024. This rally led to higher transaction costs and token burns, with the number of burned XRPs rising from 592,000 to 724,000 in Q4.

As Beincrypto previously reported, the Meme Coin activity on the network also surged. Army, an XRP meme coin launched in January, reached a market capitalization of $100 million within a few days.

Moreover, the issuance of new tokens on XRPL also increased. Trustlines grew from 7.3 million to 7.9 million, with 600,000 new connections. Among these, 37,000 trustlines were linked to Ripple's RLUSD stablecoin, indicating a strong early adoption.

Ripple attributes this growth to the rising XRP price and the growing popularity of First Ledger, a meme coin launchpad. XRP's 280% surge in Q4, according to the company, marked a pivotal recovery, following the impact of the prolonged legal battle with the SEC.

“Ripple and the broader XRP ecosystem were stifled by the SEC's actions, which artificially manipulated the market, eroding traders' trust and stunting growth. Seven years ago, before the SEC favored ETH and attacked XRP and Ripple, XRP was the second most valuable digital asset. Now that the regulatory pressure is easing, XRP is once again in a position of strength,” said Ripple.

XRP trading volume booms after US elections

Ripple highlighted that XRP's momentum accelerated following the US presidential election in November, where Pro-Crypto candidate Donald Trump secured the victory.

This shift led to an explosive growth in trade volume. The average daily volume increased from $500 million in October to $5 billion in November and December. On December 2, the trading activity peaked up to nearly $25 billion on major exchanges.

Binance led the XRP trade with 36% of the total spot volume, followed by South Korea's Upbit with 20% and Coinbase with 9%. Notably, Coinbase's market share doubled after the elections, indicating a growing interest from US investors in the digital asset.

“After the US elections, American exchanges like Coinbase and Kraken gained a larger market share compared to Bybit and Crypto.com. Nonetheless, Binance, Bybit, and Upbit together still handled more than 60% of the total trading volume,” said Ripple.

The surge in trade volume was primarily driven by long-term buyers, rather than short-term speculators who quickly churn for a profit.

This trend reflects the growing conviction in XRP's future, with investors positioning themselves for a sustained growth amid improving regulatory clarity and rising institutional interest.

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