The cryptocurrency giant Ripple reported substantial growth in Q3, with increased transaction volumes on the XRP Ledger.
Additionally, a surge in institutional interest in XRP was reported, partly due to the weakening influence of the U.S. SEC in crypto regulation.
Major financial players such as CME and Bitnomial introduced new XRP products, while firms like Bitwise and Grayscale pursued XRP-focused ETFs.
Ripple’sCEO, Brad Garlinghouse, noted that institutional demand for XRP remains strong, underlining a decline in the SEC’s authority.
XRP trading volumes also climbed, with average daily volumes between $600 million and $700 million on major exchanges and a 27% increase in the XRP/BTC ratio.
Transaction counts on the XRP Ledger nearly doubled, though much of this activity was from low-value microtransactions likely linked to spam, limiting the effect on overall volume.
Meanwhile, Total Value Locked (TVL) within Ripple’s Automated Market Makers (AMMs) rose from $8.5 million to $16.2 million, while transaction fees on the network dropped by 32%, making XRP transactions more cost-effective amid growing usage.
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]
A community-driven initiative launched Monday is inviting Ethereum users to lock art, memories, and personal messages inside a decentralized “time capsule,” set to be opened on the network’s 11th anniversary next year.
A new CryptoQuant report highlights a growing divergence between long-term Ethereum holders and short-term Bitcoin buyers, with significant accumulation behavior unfolding in both markets amid increasing political and economic tension in the U.S.
According to a new analysis from CryptoQuant, TRON (TRX) may be gearing up for a breakout as tightening Bollinger Bands point to an imminent expansion in volatility.