XRP resilient in crypto market Q1 amid financial market mania, Ripple president says XRPArmy XRPCommunity XRPHolders $XRP
based on data from CryptoCompare, most likely as a result of a combination of the market recovery that followed and significant volatile events that tend to cause volume spikes. On the other hand, spot volumes for BTC and ETH were up 12% and down 12%, respectively, on a quarterly basis.
On-chain activity on XRP Ledger continued to be robust, with decentralized exchange volumes rising 34% to $115 million in Q1, 2023, compared to Q4, 2022. On centralized exchanges, the average daily volume of XRP increased by 46% in the first quarter, from $698 million to $1 billion. At one point in March, XRP took the top spot in terms of trading volume on South Korea's two major exchanges, Upbit and Bithumb.In Q1, 2023, XRPL on-chain transactions increased 9% to 116 million from 106 million in the previous quarter. Since XLS-20 went live on the mainnet, NFTs have continued to fuel activity, and over 1 million assets have been created on the ledger.
Net of purchases, total XRP sales by Ripple in Q1, 2023, were $361.06 million, as opposed to $226.31 million in the prior quarter. In related news, Anthony Welfare, a CBDC advisor for Ripple, announced on Twitter the kickoff of Ripple's CBDC collaboration in Montenegro.
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