XRP Ledger payment volume hits lowest level since last October…“Strategic partnerships viewed positively”
Summary
- It is reported that XRP payment volume and the number of active addresses on the XRP Ledger (XRPL) have hit the lowest level since October of last year.
- Messari analyzed that, following a surge in payment volume in the first quarter, there is now a base effect that has led to reduced network activity this quarter.
- Ripple’s strategic partnerships and acquisitions, as well as the RLUSD stablecoin’s DFSA license approval, are regarded as positive signs for the long term.
XRP payment volume within the XRP Ledger (XRPL) has recently plummeted.
On the 3rd (local time), cryptocurrency-focused media outlet CoinDesk analyzed data from XRP Scan, reporting that the number of XRP payment transactions on the XRP Ledger reached 320,747, marking the lowest level since October of last year.
During the same period, the number of active addresses also fell below 10,000.
Crypto asset data analytics firm Messari commented, “With payment volume surging 36% in the first quarter, there is a base effect, leading to relatively subdued network activity this quarter.”
The long-term outlook, however, received a positive evaluation. Messari stated, “In April, Ripple acquired payment solution provider Hidden Road, becoming the first crypto asset company to operate a global prime broker. Also, Ripple’s stablecoin RLUSD secured a license from the Dubai Financial Services Authority (DFSA),” adding, “Institutional adoption through strategic partnerships and acquisitions is seen as a positive.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
