According to Odaily, Ripple's Q2 2024 XRP Market Report reveals a substantial decline in transaction volume on the XRP Ledger (XRPL) amid rising average transaction costs. The report highlights that on-chain transaction activity on XRPL decreased by 65.6% in the second quarter of 2024, totaling approximately 86.38 million transactions. This is a significant drop from the 251.39 million transactions recorded in the first quarter of 2023.