Q4 2024 Ripple’s XRP Market Report In Summary

Ripple has released its latest markets report, highlighting a significant surge in XRP’s value and trading activity during the fourth quarter of 2024.

According to the report, XRP experienced a 280% increase in price, driven by favorable macroeconomic conditions, increased institutional interest, and regulatory developments in the United States.

The company attributes this growth to multiple factors, including the outcome of the U.S. presidential election, a stable Federal Reserve policy, and a rise in institutional participation. The report notes that XRP’s recovery followed years of regulatory uncertainty, culminating in the resignation of former SEC Chair Gary Gensler.

Increased Trading Volumes and Market Performance

Between mid-November and December, daily XRP trading volumes averaged $5 billion—an increase from the $500 million recorded in the previous month. Ripple’s report indicates that a large portion of this activity came from spot markets, where Binance accounted for 36% of the global trading volume, followed by Upbit at 20% and Coinbase at 9%.

The report also mentions a growing interest from institutional investors. Firms such as WisdomTree and CoinShares submitted filings for spot XRP exchange-traded funds (ETFs), joining other asset managers like Bitwise and Canary Capital. Meanwhile, Canada plans to introduce an XRP ETF before the United States.

Bitcoin’s rise to $109,000 contributed to XRP’s performance, with the BTC/XRP trading pair seeing a 130% increase in activity over the quarter. Despite heightened volatility—rising from 40% in early November to 200%—investor confidence remained strong. By December 30, XRP had reached a price of $2.70, reflecting a 500% increase from its November levels.

Expansion of XRP Ledger and Stablecoin Adoption

Ripple continued to expand the XRP Ledger’s use cases throughout Q4 2024. The report states that Ripple Payments facilitated $70 billion in global transactions, with its RLUSD stablecoin serving as a key component for cross-border payments. RLUSD has been integrated into platforms such as Bitstamp, MoonPay, Uphold, and Independent Reserve.

To enhance trust in RLUSD, Ripple has implemented monthly reserve audits conducted by independent third-party firms. On-chain metrics also reflected growth, with XRP Ledger wallet creation reaching 709,000 in Q4, up from 140,000 in Q3.

According to the report, XRP’s average price rose from $0.55 to $1.43 over the quarter, while burned XRP increased from 592,000 to 724,000 tokens. Trustlines on the ledger grew from 7.3 million to 7.9 million, with 37,000 new trustlines linked to RLUSD adoption.

Ripple’s automated market maker (AMM) feature, introduced in March, saw its swap volume grow significantly—rising from $31 million in Q3 to $774 million in Q4. Decentralized exchange (DEX) volume surpassed $1 billion, with AMM swaps accounting for 77% of total activity.

Technology Upgrades and Institutional Adoption

Ripple reported several technological advancements in Q4, aimed at improving XRP Ledger’s capabilities. The XLS-40 amendment introduced decentralized identifiers (DIDs), while a native oracle protocol was integrated with Band Protocol and DIA. These additions provide real-time price feeds for applications such as lending, tokenization, and market-making.

Institutional interest in XRP Ledger also expanded. Archax, a Financial Conduct Authority (FCA)-regulated digital asset exchange, partnered with abrdn to tokenize money market funds on the ledger.

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Societe Generale announced plans to issue its MiCA-compliant stablecoin, EURCV, on the network. Ripple emphasized that XRP Ledger offers fast settlements (3-5 seconds), low transaction costs, and built-in compliance features.

Ripple’s XRP Holdings and Escrow Update

The report also provided an update on Ripple’s XRP holdings. As of December 31, 2024, the company held 4.48 billion XRP, compared to 4.43 billion at the end of Q3.

Meanwhile, the total amount of XRP subject to on-ledger escrow decreased from 38.9 billion to 38.03 billion tokens. Ripple explained that these escrowed funds are released on a scheduled basis each month, with any unused tokens returned to escrow.

The company clarified that it occasionally transfers XRP to external entities such as exchange-traded products (ETPs) or trusts but maintains that these transactions are conducted with the expectation that the assets will remain within its ecosystem.

Ripple’s Q4 2024 report underscores growing institutional participation, enhanced utility for the XRP Ledger, and an improving regulatory outlook. With new developments in stablecoin adoption, decentralized finance, and on-chain integrations, Ripple expects continued expansion in 2025.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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