Ripple, one of the main companies in the crypto sector, has recently published its quarterly report on the XRP markets.
This provides transparency and regular updates on the company’s opinions regarding the state of the crypto markets, also providing valuable information on Ripple’s XRP holdings and the overall health of the XRP ecosystem.
Ripple: The crypto holdings of XRP in detail
In the report, Ripple has revealed its “holdings” of XRP at the beginning and end of the quarter. In this case, it is necessary to distinguish between two distinct categories of XRP: the XRP currently available in the company’s wallets and the XRP subject to escrow on-ledger.
Escrow is a measure adopted by Ripple to control the distribution of XRP on the market. XRP in escrow are locked and released gradually every month. This system is designed to maintain market stability and prevent sudden price fluctuations caused by an excess of supply.
As of December 31, 2023, Ripple in fact held 5,077,658,695 XRP in its wallets, while 40,700,000,005 XRP were in escrow on-ledger.
On March 31, 2024, these figures have respectively dropped to 4,836,166,156 and 40,100,000,005 XRP.
This reduction therefore indicates Ripple’s commitment to maintaining a balance between supply and demand in the market.
Growth of on-chain activity
The report highlights a significant growth in on-chain activity in the last quarter.
On-chain transactions have increased by 108%, a clear indicator of the growing use of the XRP network. This growth was then accompanied by a 45% decrease in the average cost per transaction, making transactions with XRP more affordable for users.
Future Implications
The quarterly report from Ripple provides a clear overview of its holdings of XRP and the growing activity on the XRP network.
With an increase in transactions and a reduction in costs, the XRP ecosystem demonstrates strength and significant growth potential!
Ripple continues to demonstrate its commitment to transparency and responsible resource management, thus contributing to the stability of the cryptocurrency market.
Looking to the future, reports like that of Ripple are essential to provide investors and users with a clear understanding of the current state and prospects of the cryptocurrency market.
In this case it can definitely be said that with the increase in interest and on-chain activity, the future of XRP and its ecosystem appears bright and full of opportunities.