Ripple’s XRP trade volume on top fairs during the first quarter, with the average daily volume (ADV) with almost $ 3.2 billion, while XRP Ledger (XRPL) activity decreased.
According to May 5th report Ripple reflects the volume -trend -continuing institutional and retail involvement despite competitive price fluctuations and moderating activities in chains.
Spotmarkt data shows that XRP has placed intermittent volume peaks, especially at the end of January and the beginning of February when the daily volumes were higher than $ 16 billion. The taper activity in March, although Binance retained a dominant market share, accounting for around 40% of the exchange volume.
Other leading locations were Upbit (15%) and Coinbase (12%). The share of Bybit fell considerably after a platform hack disturbed the activity in February.
Trade behavior and composition of the couple
XRP trade remained heavily crooked in the direction of Stablecoin pairs, led by USDT. In the last quarter of 2024 to 29%, the share of the traded volume through Fiat pairs increased modests of 25% in the first quarter of this year, indicating a mild shift to traditional currency carails.
In general, the volume pattern emphasizes XRP’s liquidity fence and continuous preference for stablecoin -based markets. It Outdrophy other large altcoins compared to the wider market, where the XRP/BTC volume ratio climbs more than 10% during the quarter.
These performance placed XRP above Cardano (ADA), BNB and Solana (SOL) in terms of the expired average dollar volume.
At the end of the quarter, XRP traded at $ 2.09, with a 30-day ADD of $ 2.8 billion and a 90-day ADV of $ 3.3 billion, with only Bitcoin (BTC) and Ethereum (ETH) in absolute trading activity.
Volatility conditions and price performance
The price process of XRP followed a sharp arch until the quarter. From $ 2.00, the token came to a multi -year highlight of $ 3.40 at the beginning of February before he returned to $ 2.09 at the end of March.
The realized volatility reflected these movements, starting the year at 150% and then dropped to almost 100% during a period of calm market, before he recovered to stabilize around 130% during the rest of the quarter.
The price run was powered by anticipation of XRP-related regulatory clarity and product expansion, although taking profit and wider market recovery contributed to the subsequent pullback.
Nevertheless, at the end of the first quarter, the closing price of XRP represented an increase in the average final price of 89% compared to the fourth quarter of last year.
On-chain statistics show contraction
While the exchange volume held firmly, the activity on the chain on the XRPL in line with wider crypto network delay fell. The total transactions fell by more than 37% quarterly overkwartaal to 105.5 million, while creating wallets fell by 40% to 423,727.
XRP burned as the transaction costs fell by 31%and the average transaction costs in US dollars doubled due to the increase in the price of XRP.
Despite the contraction of core statistics, Defi activity on XRPL proved relatively more sustainable. The volume of the decentralized exchanges fell by 17%, which performed better than the chain statistics from Bitcoin, Ethereum and other large block chains.
RLUSD, Ripple’s USD Stablecoin, surpassed $ 90 million in market capitalization with more than $ 300 million in cumulatively decentralized trade volume.
Despite the broad market misery in the first quarter, the XRP trade volume remained stable, which suggests what the demand of investors or hunger for short-term trade could be.