XRPL on-chain transactions jump 108% in Q1 2024

The XRP Ledger (XRPL) recorded 251.39 million on-chain transactions during the first quarter of 2024, an increase of approximately 108% compared to the last quarter of 2023.

The XRP Ledger (XRPL) has seen over double the number of transactions during the first quarter of 2024 compared to the previous quarter, alongside the average transaction cost almost slashing in half, according to Ripple’s recent XRP market report.

The XRPL on-chain transaction activity increased by 108% during the first quarter of 2024, with approximately 251.39 million recorded, compared to the total 121.03 million in the last quarter of 2023, as per the report published on May 17.

Additionally, the average cost per transaction fell 45% to approximately 0.000856 USD.

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