XRP transactions overall climbed by 108% in the first quarter of 2024.
The $2 billion penalty that the SEC has suggested for XRP sales is something Ripple objects to.
With updates on their ongoing SEC complaint and a summary of noteworthy on-chain activity, Ripple Labs Inc. just published its first quarter ecosystem performance report.
According to the research, there was a startling 108% rise in total transactions on the XRP Ledger protocol from the 121,031,713 transactions reported in Q4 2023 to 251,397,881. The flood of new applications and users on the protocol was credited with this remarkable expansion.
Lower Transaction Fees and Wallet Numbers
In addition, XRP burned for transaction fees doubled overall, rising from 101% from 317,271 in Q4 2023 to 636,184. This significant increase highlights the increased activity on the ledger. Dollar volume on the decentralized exchange (DEX) increased 5% as well, to $57,618,270 from $54,907,170 in the prior quarter.
The report pointed up sev

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