Ripple Q1 XRP Market Report: Total holdings exceed 4.83 billion XRP, most trading activity is related to USDT

Ripple officially released the Q1 2024 XRP market report, showing:

1. The lowest point of XRP price appeared in mid-February and peaked in March, with a volatility level still above 90%;

2. In the spot trading volume of XRP, Binance continues to occupy a large part of the trading volume, but contributions from different exchanges vary. Coinbase, Bitstamp and Upbit also account for a considerable proportion of total trading volume. The distribution of XRP trading volumes across various exchanges remained fairly stable throughout Q1, with Binance, Bybit and Upbit accounting for over 70% of total volume;

3. The percentage of fiat currency to XRP trade pair volumes dropped from 15% last quarter to 11%, most current XRP trade activities are related to USDT;

4. On-chain transaction volume increased by 108%, while average cost per transaction decreased by 45%;

5. As at March 31st,2024 Ripple holds a total amounting to 4,836,166,156 XRPs; ledger-custodied XRPs totaled up to be around about40 billion (40 ,100 ,000 ,005).