Fintech company Ripple has published its Q1 2023 XRP Markets Report, which includes XRP sales, announcements about the XRP Ledger and XRP, and comments on market developments that occurred in Q1 2023.
Key takeaways from the report include:
- Total XRP sales by Ripple in Q1 2023 were $361.06M v. $226.31M the previous quarter.
- XRP Ledger on-chain activity remained strong, with decentralized exchange volumes increasing 34% to $115M in Q1 2023 versus Q4 2022. XRP Average Daily Volume (ADV) on centralized exchanges increased by 46% in Q1, from $698M to $1B.
- The EU, UK, and UAE proposed new regulatory regimes for crypto focused on licensing and activity-based frameworks.
- Developers proposed a new interoperability standard (XLS-38d) for the XRP Ledger that would allow users to transfer digital assets and data between blockchains regardless of underlying protocol or programming language.
