XRP Ledger Shows Remarkable Growth in Q4 2024 with 246% Surge

The XRP Ledger (XRPL) had an outstanding fourth quarter in 2024, with its market value growing faster than Bitcoin, Ethereum, and Solana combined.

According to Messari’s latest report, XRP’s market cap jumped by 246% quarter-over-quarter, reaching $119.5 billion and making it the fourth-largest cryptocurrency by market value.

Significant Growth Across Key Metrics

The network saw major improvements in several areas. New user addresses shot up by 382% to 507,000, pointing to strong user growth. Trading activity also picked up significantly, with the central limit order book (CLOB) volume increasing by 1,140% and automated market maker (AMM) volume rising by 3,100%.

A key development was the launch of RLUSD, Ripple’s new U.S. dollar-backed stablecoin, in December. This stablecoin is fully backed by U.S. dollar deposits, short-term Treasury bills, and similar safe assets. Users can now access RLUSD on various platforms, including Uphold, Bitso, MoonPay, and several others.

The XRP Ledger Evolution and Future Plans

The XRPL team made important technical updates in Q4. They added features for digital identity verification and price tracking systems called oracles. These changes make the network more useful for real-world business applications. Looking ahead, there are plans to add smart contracts, which would let developers create more complex applications on the network.

Real-world asset integration also moved forward. Investment firm abrdn brought its U.S. Dollar Liquidity Fund to XRPL through Archax, marking the first tokenized money market fund on the platform. Additionally, French bank SG-FORGE announced plans to launch its euro-based stablecoin (EURCV) on XRPL in 2025.

The network’s governance also saw important changes. In November, the XRP Ledger Foundation was officially registered in France. This new organization will help guide XRPL’s development with support from key players like XRPL Commons, XRPL Labs, Ripple, and XAO DAO.

These developments signal strong momentum for XRPL heading into 2025. With increasing trading volumes, growing user numbers, and new financial products being added, the platform appears well-positioned for continued expansion in the cryptocurrency market.