TL;DR

XRP experienced a 246% growth in its market capitalization in the fourth quarter of 2024, reaching a value of $3.16 per unit.
Ripple launched RLUSD, a stablecoin backed by US dollar deposits, with monthly audits, already adopted by platforms like Uphold, Bitso, and MoonPay.
XRPL saw a 382% increase in new addresses, reduced account creation costs, and showed significant growth in DeFi markets.

Ripple continues advancing in its goal of improving the infrastructure and adoption of its blockchain network. In the fourth quarter of 2024, XRP experienced strong growth, achieving a 246% increase in its market capitalization, allowing it to surpass other cryptocurrencies like Bitcoin and Ethereum. XRP’s price rose by 241%, reaching a value of $3.16 per unit.

One of the most relevant developments for Ripple was the launch of RLUSD, a stablecoin backed by US dollar deposits. This stablecoin aims to offer a model of greater transparency, with monthly audits conducted by third parties. Since its introduction in December 2024, it has started to be adopted by platforms such as Uphold, Bitso, and MoonPay.

Boom in XRPL Network Registrations

Regarding the adoption of the XRPL network, the numbers also show positive results. The number of new addresses grew by 382%, indicating a strong increase in the user base. Additionally, the cost of account creation on the network was reduced, facilitating the arrival of new users. This growth is also reflected in an increase in transaction volume, particularly in markets such as the Central Limit Order Book (CLOB) and the Automated Market Maker (AMM).

Ripple is also expanding XRPL’s capabilities by integrating new technologies. In September, the network began working on the implementation of native smart contracts, an update that could increase its functionality. Furthermore, the introduction of Hooks and sidechains will provide greater flexibility and scalability for the network in the future.

Success in the DeFi Market

In the DeFi market, XRPL continues gaining ground. During the last quarter, several projects tokenized real assets on the network, and the EURCV stablecoin is expected to be integrated in 2025. These markets also showed enormous growth, with a 176% increase in the market capitalization of fungible tokens.

Ripple’s network also made improvements to its infrastructure, with an increase in the number of nodes and validators. Although there was a small issue with the temporary downtime of some nodes, the software update helped resolve the problem quickly

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Filed under: News - @ January 24, 2025 6:25 pm