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XRP Ledger Saw 114K+ New Wallets, 116M+ Transactions and 140K+ XRP Burned in Q1 2023

The XRP Ledger (XRPL) saw growth in Q1 2023, despite market uncertainty and the ongoing Ripple vs. SEC case. The network processed over 116 million transactions and burned over 140K XRP from transaction fees, representing a 38% surge in burned XRP compared to the previous quarter. The increase in network activity was attributed to the contribution of NFTs on the XRPL. Although the growth rate of new wallets declined by 38.3% compared to Q4 2022, the XRPL is headed for the 5 million wallet threshold, currently boasting an excess of 4.6 million wallets.

(By ALBERT BROWN)

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