Ripple Q1 Report: Transaction volume increased by 108% quarter-on-quarter, transaction costs decreased by 45% quarter-on-quarter

ChainCatcher message, Ripple released its Q1 XRP market report showing that the number of transactions on the XRP Ledger (XRPL) more than doubled in the first quarter of 2024 compared to the previous quarter, while the average transaction cost was nearly halved. On-chain transaction activity on the XRPL grew by 108% in Q1 2024, with the number of transactions totaling approximately 251.39 million, compared to 121.03 million transactions in Q4 2023. Additionally, the average cost per transaction decreased by 45% to approximately $0.000856.