Ripple’s XRP trading volume on high -level exchanges throughout the first quarter, with an average daily volume (ADV) holding nearly $ 3.2 billion, while XRP LEDGER (XRPL) activity has decreased.
According to a May 5 report By Ripple, the volume trend reflects an institutional and sustained retail commitment despite net price swings and moderate activity on the chain.
The cash market data show that XRP has published intermittent volume tips, in particular at the end of January and early February, when daily volumes exceeded $ 16 billion. The activity collapsed in March, although Binance has retained a dominant market share, representing around 40% of the exchange volume.
The other leading places included Upbit (15%) and Coinbase (12%). The share of Bybit has decreased considerably after a platform hacking the activity in February.
Commercial behavior and composition of the pair
The XRP trading remained strongly biased towards the pairs of Stablescoin, led by the USDT. The proportion of volume exchanged via Fiat pairs increased modestly by 25% in the last quarter from 2024 to 29% in the first quarter of this year, indicating a slight change to traditional monetary rails.
Overall, the volume model highlights XRP liquidity resilience and continuous preference for Stablecoin -based markets. He has surpassed other major altcoins compared to the larger market, the volume XRP / BTC ratio climbing more than 10% during the quarter.
This performance placed XRP above Cardano (ADA), BNB and Solana (soil) in terms of average dollar volume.
In the quarter, XRP was negotiated at $ 2.09, with an ADV of $ 2.8 billion and an ADV of $ 3.3 billion, following only Bitcoin (BTC) and Ethereum (ETH) in absolute negotiation activity.
Volatility and price performance conditions
The XRP prices trajectory followed a bright arc during the quarter. From less than $ 2.00, the token joined a multi -year summit of $ 3.40 in early February before being $ 2.09 by the end of March.
The volatility carried out reflected these movements, from the year at 150%, then falling to almost 100% for a period of calm on the market, before rebounding to stabilize around 130% throughout the quarter.
The extent of the prices was motivated by anticipation around the regulatory clarity linked to XRP and the expansion of products, although taking the benefits and broader recalibrations of the market have contributed to subsequent withdrawal.
However, the XRP fence price at the end of the first quarter represented an 89% increase in its average closing price compared to the fourth quarter of last year.
Chain metrics show a contraction
While the exchange volume maintains firmly, chain activity on XRPL has decreased in accordance with the wider slowdowns of the crypto network. Total transactions have dropped by more than 37% quarter to 105.5 million, while portfolio creation dropped by 40% to 423,727.
XRP burned as transaction costs decreased by 31%, and average transaction costs in US dollars have doubled due to the increase in XRP prices.
Despite the contraction of central metrics, the activity DEFI on XRPL has proven to be relatively more lasting. The volume of decentralized exchanges decreased by 17%, surpassing the measures on the Bitcoin, Ethereum and other major blockchains.
Rlusd, the Stablecoin USD of Ripple, exceeded $ 90 million in market capitalization with more than $ 300 million in volume of cumulative decentralized negotiation.
Despite the broad market problems in the first quarter, the XRP negotiation volume remained stable, suggesting what could be the demand for investors or appetite for short -term trading.
