- Ripple’s Q4 report revealed that five firms filed for XRP-based ETFs, boosting XRP’s presence in traditional finance.
- Ripple’s RLUSD stablecoin surpassed $100 million in market cap, further expanding Ripple’s product offerings.
- XRP’s on-chain trading volume on the XRPL DEX hit $1 billion, signaling the growing importance of decentralized finance.
Twitter users recently received an update from Ripple CEO Brad Garlinghouse regarding the quarterly report on XRP markets. The Twitter post discusses significant achievements Ripple and XRP token accomplished during the recent months. The fourth quarter of last year brought the company remarkable growth as well as exciting new ventures according to Garlinghouse.
XRP-Based ETF Filings Continue to Gain Momentum
The key event in the report revealed the filing of several XRP-based exchange-traded products (ETPs) Garlinghouse confirmed five finance management firms filed for XRP-based ETFs within the U.S. market during the last financial quarter. XRP continues to establish its prominence in traditional finance since four additional companies have filed XRP-based products during the current year.
Ripple achieved another major milestone during the last months of 2024 through the debut of its stablecoin called Ripple USD (RLUSD). After Ripple introduced its stablecoin the market value exceeded $100 million within its initial launch period. Ripple’s success demonstrates how the company advances its operations from cryptocurrency toward stablecoin markets.
Ripple announced an important milestone involving the XRPL decentralized exchange (DEX) when its on-chain trading volume exceeded $1 billion during Q4 of 2024. XRP achieved an important indicator that elevates its position in the decentralized finance (DeFi) space.
The quarterly report showcased the strong price growth of XRP during the mentioned period. Throughout the last quarter of 2024, the XRP coin achieved a staggering 280% rise in its market value. The report identifies three main crypto exchanges as key contributors to XRP’s market ascend since they supplied the substantial demand that caused its price acceleration.
The main news point in this report illustrated the resignation of SEC Chairman Gary Gensler. After Gensler left his position as SEC Chairman he brought an end to an uncertain regulatory period for Ripple which now has Acting Chairman Uyeda taking over leadership at the agency. The SEC continues to pursue appeal challenges against Ripple’s recent judicial victories during its existing legal engagement with the company.
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