PANews reported on August 3 that according to Cointelegraph, Ripple released the second quarter XRP market report showing that XRP Ledger (XRPL) on-chain transaction activity fell by 65.6% month-on-month to about 86.38 million transactions, compared with 251.39 million transactions in the first quarter of 2024. As transaction activity decreased, the cost per transaction soared 168% to 0.00394 XRP per transaction. Ripple explained that in order to protect the P2P network from spam, the cost will increase as the network load increases. The number of new wallets was 100,746, a month-on-month decrease of 45.8%.
