The price of XRP has witnessed a great return in the last quarter of 2024, as it recorded an increase of 280 % with the periphery of organizational challenges. The most recently highlighted Ripple’s XRP MARKETS report, attributing it to the renewal of the investor’s confidence and the transformation of the American organizational space.
XRP holds the spotlight in the Q4 Ripple report
The report indicated that XRP, which was previously the second largest digital asset before a lawsuit for the Supreme Education Council, was suspended due to uncertainty in the market. However, these fears vanished, the trading volume increased. Binance 36 % of the immediate trading volume of XRP, followed by Upbit Korea by 20 % and Coinbase by 9 %. The American demand was strengthened after the presidential elections, with the multiplication of the Coinbase XRP trading share.
According to Ripple, “The immediate trading volumes on all stocks increased significantly, with an average of $ 5 billion a day from mid -November to December.” On December 2, XRP recorded approximately $ 25 billion in the size of the daily spot, which represents an increase in the quarter.
The interest of the investor extended beyond the immediate markets, while deepening institutional players. Wisdomtree and Coinshares provided files to the XRP (ETF) exchange box, join BitWise, Canary Capital and 21shares in the search for SEC approval.
Organizational developments and policy transformations
The Ripple report highlighted a changing position on the regulation of encryption in the United States, driven by the new administration. President Trump has signed an executive order that recognizes the role of digital assets in the economy. The matter emphasized “organizational clarity through comprehensive legislation” and supports Stablecoin innovation supported by US Treasury bonds. It also directed the creation of a working group on the digital asset markets.
The Securities and Stock Exchange also witnessed the main driving changes. The Chairman of the Board of Directors, Gary Ginsner, resigned and replaced by the Chairman of the Chargé d’Affaires of Uida, who criticized the previous organizational procedures, saying that they created “jamming about what is legal” and frustrated innovation. In addition, the Supreme Education Council SAB 121 canceled a policy that is widely opposed by industry.
Meanwhile, Ripple remains involved in its legal battle with SEC. On January 15, the Securities and Stock Exchange Commission submitted an appeal, repeating the arguments previously rejected in court. Ripple is the timing of the deposit timing, noting the upcoming driving changes. The company is scheduled to respond by April 16.
Ledger XRP sees adoption increase
The activity was expanded on the Professor XRP book (XRPL) in Q4. The number of the new portfolios jumped to 709,545, an increase of 404 % over the third quarter, while XRP increased in transaction fees by 22 %. The trading volume of the decentralized stock exchange increased to one billion dollars, which is largely driven by the introduction of the AMMS.
Ripple has also announced the progress of Stablecoin, with RLUSD integration into multiple exchanges and payment providers. The company confirmed that RLUSD will support the border payments and the asset symbol in the real world.
Meanwhile, the distinctive institutional symbol gained XRPL traction. Archax has a partnership with Asset Manager Abrdn for the Capital Market Code, while Societe Genere-Forge (SG-FORGE) plans to bring Stablecoin, EURCV, to LEDGER XRP. With the main regulatory transformations and the increase in institutional demand, the XRP ecological system continues to develop, which enhances its role in the broader digital asset industry.
Also read: Ripple’s purpose investment files (XRP) ETF in Canada
