Ripple’s Q4 2024 XRP Markets report highlights a strong resurgence in on-chain activity, trading volume, and institutional demand.

The last financial quarter marked a critical shift for XRP, as increased adoption and market confidence drove its performance to new highs.

XRPL Hits $1 Billion on DEXs as On-Chain Activity Expands

Transaction count on the XRP Ledger (XRPL) saw a slight 2.86% decline to 167 million in Q4 2024. However, overall engagement on the network surged, according to Ripple’s latest market report.

The Automated Market Maker (AMM) feature, introduced in March, saw a massive surge in swap volume, jumping from $31.23 million in Q3 to $774.15 million in Q4. This increase significantly boosted trading on the XRPL DEX, which expanded from $63.4 million to $1 billion.

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

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

Since Trump’s election victory, XRP’s average closing price jumped from $0.55 to $1.43, hitting a peak of $2.80 by the end of December 2024. This rally led to higher transaction fees and token burns, with XRP burned increasing from 592,000 to 724,000 in Q4.

As BeInCrypto reported earlier, meme coin activity also surged on the network. ARMY, an XRP meme coin launched in January, gained a $100 million market cap in days.

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Author: Oluwapelumi Adejumo

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