The XRP Ledger has recorded a market surge of $169 million: Messari.

Kabir903

A new report from Messari has unveiled record-breaking statistics about the XRP Ledger. According to the latest disclosures, there has been an incredible surge in the market value of the XRP Ledger, particularly a 47% increase.

This remarkable development has led to a growth of nearly $169 million in the market value of the XRP Ledger, which is considered impressive given the platform's gradual evolution.

XRP is now the sixth-largest cryptocurrency by market capitalization - Messari
The report further outlines that XRP has become the sixth-largest cryptocurrency by market capitalization, reaching $33.7 billion. Its circulating market capitalization has grown by 21.2% quarterly and approximately 93.6% year-over-year.

The report also points out the reasons behind XRP's positive performance, citing decisive regulatory news and victories utilized by Ripple in its legal battle with the U.S. Securities and Exchange Commission (SEC).

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The report later shared: "XRP market capitalization is up 21% quarter-over-quarter and 97% year-over-year following positive regulatory news. The SEC's charges against Ripple were officially dismissed on October 19, 2023."

Sharing statistics related to network activity, transactions on XRP increased by 22.7%, while active addresses on the XRPL decreased by 31.3%.

The report clarified afterward: "Transaction volume is up 23% quarter-over-quarter, primarily due to a significant increase in payments related to December Memo activity."

Ripple's strong start
At the beginning of 2024, Ripple embarked on a new era. The company recently acquired custodial solutions provider Standard Custody and Trust Company, which will help the company tap into a solid foundational niche market.

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Ripple CEO Brad Garlinghouse summarized its robust acquisitions by sharing more detailed information on Twitter. He further shared how Ripple has obtained nearly 40 U.S. money transmitter licenses, MAS's MPI license, and the Central Bank of Ireland's VASP registration.

In addition, Ripple has struck deals with leading corporate giants such as HSBC, BBVA, and Zodia. Its recent spree of acquisitions and licenses reaffirms the company's commitment to establishing global dominance.

Pooja193

Ripple has also struck deals with leading corporate giants such as HSBC, BBVA, and Zodia.

Nimmi373

HSBC Bank is indeed in the mix.

Kalkin995

That's a great strategy.

Kahn332

Recording the market's increase, that's not the essence of the matter.