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XRP Surges Post-Election: Trading Volume, On-Chain Activity Skyrocket

Coin WorldSaturday, Feb 1, 2025 7:19 am ET
1min read

XRP Trading Volume Surges Post-Election as On-Chain Activity and Automated Market Maker Swaps Surge

XRP, the native cryptocurrency of the XRP Ledger (XRPL), has witnessed a significant surge in trading volume following the U.S. presidential election, with on-chain activity and automated market maker (AMM) swaps also surging. According to Ripple's Q4 2024 XRP Markets report, the last financial quarter marked a critical shift for XRP, as increased adoption and market confidence drove its performance to new highs.

Transaction count on the XRP Ledger (XRPL) saw a slight 2.86% decline to 167 million in Q4 2024. However, overall engagement on the network surged, with the Automated Market Maker (AMM) feature introduced in March seeing a massive surge in swap volume, jumping from $31.23 million in Q3 to $774.15 million in Q4. This increase significantly boosted trading on the XRPL DEX, which expanded from $63.4 million to $1 billion. Overall, AMM swaps accounted for 77% of total transactions, highlighting their growing influence on the network.

Network adoption also grew to record highs for XRPL. New wallet registrations surged from 140,000 in Q3 to 709,000 in Q4, reflecting a sharp rise in user participation. Since Trump's election victory, XRP's average closing price jumped from $0.55 to $1.43, hitting a peak of $2.80 by the end of December 2024. This rally led to higher transaction fees and token burns, with XRP burned increasing from 592,000 to 724,000 in Q4.

Ripple credited this growth to rising XRP prices and the increasing traction of First Ledger, a meme coin launchpad. According to the firm, XRP's 280% surge in Q4 marked a critical recovery for the asset, which had been weighed down by the SEC's prolonged legal battle.

Ripple pointed out that XRP's momentum accelerated following the November US presidential election, where pro-c

Comments

Post
Dynasty__93
02/01
XRP's pump post-election was wild, but watch SEC drama.
0
Plane-Salamander2580
02/01
XRP's price pump post-election was wild, but watch out for the SEC's next move, could be a bear trap.
0
JobuJabroni
02/01
HODLing XRP, riding the wave post-election 🚀
0
GrapeJuicex
02/01
AMM swaps are the new king of XRPL.
0
liano
02/01
Trump win boosted XRP; Biden might change game.
0
Hungry-Bee-8340
02/01
Ripple's got momentum, but regulatory risks linger.
0
LividAd4250
02/01
XRP's on-chain activity poppin' like a bottle of champers! 🥂 Gotta love when the hype trains actually gain steam.
0
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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