Ripple Q1 XRP Market Report: Total holdings exceed 4.83 billion XRP, most trading activities are related to USDT

Ripple has released its Q1 2024 XRP market report, which shows that:

1. The low point of XRP price appeared in mid-February and reached its peak in March, with volatility still above 90%;

2. Binance continues to occupy a large part of the spot trading volume of XRP, but the contributions of different exchanges are different. The total trading volume of Coinbase, Bitstamp, and Upbit also accounts for a considerable proportion. In the first quarter, the distribution of XRP trading volume of each exchange remained relatively stable, with Binance, Bybit, and Upbit accounting for more than 70% of the total trading volume;

3. The percentage of fiat-to-XRP trading volume has decreased from 15% in the fourth quarter of last year to 11%, and most XRP trading activities are now related to USDT;

4. The on-chain trading volume increased by 108%, and the average cost per transaction decreased by 45%;

5. As of March 31, 2024, Ripple holds a total of 4,836,166,156 XRP, and the total amount of XRP held in the ledger is 40,100,000,005.