Ripple Q1 XRP Market Report: Total holdings exceed 4.83 billion XRP, most trading activities are related to USDT
Ripple has released its Q1 2024 XRP market report, which shows that:
1. The low point of XRP price appeared in mid-February and reached its peak in March, with volatility still above 90%;
2. Binance continues to occupy a large part of the spot trading volume of XRP, but the contributions of different exchanges are different. The total trading volume of Coinbase, Bitstamp, and Upbit also accounts for a considerable proportion. In the first quarter, the distribution of XRP trading volume of each exchange remained relatively stable, with Binance, Bybit, and Upbit accounting for more than 70% of the total trading volume;
3. The percentage of fiat-to-XRP trading volume has decreased from 15% in the fourth quarter of last year to 11%, and most XRP trading activities are now related to USDT;
4. The on-chain trading volume increased by 108%, and the average cost per transaction decreased by 45%;
5. As of March 31, 2024, Ripple holds a total of 4,836,166,156 XRP, and the total amount of XRP held in the ledger is 40,100,000,005.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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