The well-established company of the crypto money market, Ripple (XRP), has announced its first quarter report for 2023. In the figures shared by the company, it was signaled that a positive entry was made to 2023.
Ripple has released its first quarter report of 2023. In the report, after deducting purchases in the first quarter $361 million net sales of XRP the previous quarter’s $226.31 million The increase in sales was remarkable. Ripple has announced that the XRP sale in question is growing. On-Demand Liquidity (ODL) in the ODL field while specifying that it is doing in connection with the to increasing demand drew attention.
The company underlined that the activity on the network continues to increase and the transaction volume on both centralized and decentralized exchanges (DEX) exhibits notable increases. XRP on centralized exchanges Average Daily Volume (ADV) compared to the previous quarter 46% with an increase From $698 million to $1 billion reported to have risen.
On the other hand, XRP Ledger on-chain activities volume on decentralized exchanges remains strong compared to Q4 2022 34% increasing rose to $115 million. While Ripple pointed out that 2023 started fast both in macroeconomic markets and in crypto money markets. Despite all the turmoil, the cryptocurrency industry remains resilient. stated:
While global inflation expectations initially slowed, macro turbulence revealed cracks in parts of the economy. Critical hits were dealt to Silvergate, Silicon Valley Bank (SVB), Signature and Credit Suisse, among others. Despite the turmoil, crypto markets, including XRP, have remained resilient.
According to the report, revenue from transaction fees in the first quarter 140 thousand 993 XRP burned. Number of XRP wallets last year Compared to the fourth quarter down 228 from a thousand 140 down to a thousand. However, in the first quarter, an important protocol proposal was made by the developers for the operation of the network. Developers, users for XRP Ledger basic protocol or programming language independent will enable it to transfer digital assets and data between blockchains. XLS-38d proposed a new Interoperability standard called
US Securities and Exchange Commission with Ripple in its first quarter report (SEC) between 2 years of litigation was also mentioned. As the company stated earlier, A summary decision in 2023 Finally, while emphasizing that March 6 He simply reminded the SEC’s and Ripple’s report published on expert opinions.