NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

XRP Dominates The Market: ADV On Centralized Exchanges Surged by 46% In Q1 2023, Report

Ronaldo Marquez
Ronaldo Marquez
1 year ago
2 mins read
XRP

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP, the sixth-largest cryptocurrency by market capitalization, has recorded significant gains in the first quarter of 2023. Despite a drop from its yearly high of $0.590, XRP dominated the crypto market with total sales in Q1 2023 of $361.06M, net of purchases, compared to $226.31M in the previous quarter.

Related Reading

Avalanche AVAX Price

Avalanche Remains Under Pressure Despite Circle’s CCTP Effort

1 year ago

XRP Shines In Q1, Records Impressive Growth And Performance

According to the Q1 report by Ripple, XRP Ledger (XRPL) on-chain activity remained strong, with decentralized exchange volumes increasing by 34% to $115M in Q1 2023 versus Q4 2022. Furthermore, XRP Average Daily Volume (ADV) on centralized exchanges jumped 46% in Q1 to $1B from $698M, indicating high demand for the cryptocurrency.

XRP
XRP’s ADV in Q1 2023. Source: Ripple.com

While financial turmoil dominated the markets in Q1 of 2023, the token recorded a 46% increase in volumes compared to the previous quarter, according to the report. This increase can be attributed to market recovery and large volatile events spike volumes.

Furthermore, according to the data released by Ripple, the XRPL’s on-chain activity remained strong in Q1 2023. The total number of transactions increased to 116,341,516, up from 106,429,153 in the previous quarter. The average cost per transaction (in XRP) also increased slightly to 0.00121 from 0.00096 in Q4 2022, while the average cost per transaction was $0.000484.

In addition, the XRPL burned 140,993 tokens for transaction fees in Q1 2023, reflecting an increase from the previous quarter. The average XRP closing price during the period was $0.40, slightly lower than the previous quarter’s $0.42.

The XRPL’s decentralized exchange (DEX) volumes also increased in Q1 2023, with $114,567,441 traded on DEX, up from $85,772,947 in the previous quarter. The number of trust lines remained stable at 8,317,321, while the number of new wallets created was 140,558.

Moreover, The XRP Ledger’s on-chain activity remains robust, with Ripple’s latest report revealing that transactions increased by 9% in Q1 2023 to 116 million, compared to 106 million in the previous quarter. NFTs have emerged as a key driver of activity, with over one million assets minted on the Ledger since XLS-20 went live on the mainnet.

Rising Above The Rest

The report also notes that due to the recent banking crisis, Ripple temporarily stopped purchasing XRP for several days due to the disruption. However, the company has since resumed purchases and plans to continue purchasing XRP as ODL (On-Demand Liquidity) adoption grows.

In addition, during Q1 2023, three billion XRP were released out of escrow, with one billion released each month, in line with prior quarters and the official escrow arrangement. Of the three billion XRP, 2.1 billion were returned and subsequently put into new escrow contracts throughout the quarter, ensuring the stability and predictability of XRP’s supply.

At the time of writing, XRP is trading at $0.4640, representing a decline of 2.5% over the past 24 hours. In the wider time frames, XRP is experiencing a downturn, with 5%, 8%, and 3% decreases in the seven-day, fourteen-day, and 30-day timeframes, respectively.

Related Reading

Solana

Solana Can Rally Over 20% If It Breaches This Level

2 years ago
XRP
XRP trading sideways on the 1-day chart. Source: XRPUSDT on TradingView.com

Featured image from Unsplash, chart from TradingView.com

Tweet123Share196ShareSend
Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto

More Than 6 In 10 Use Crypto For Passive Income, 46% To Beat Inflation – Study

According to MEXC’s H1 2025 user survey, nearly half of users now say they turned to crypto to protect against...

Christian Encila 2 hours ago
ethereum eth ethusd crypto

Altcoins Hit Hard as Week Starts With $1.7 Billion in Crypto Liquidations

The crypto market kicked off the week with one of its sharpest downturns of 2025, erasing more than $151 billion...

James Halver 7 hours ago
altcoins market news

Τα καλύτερα altcoins για αγορά καθώς το BNB σχεδόν έφτασε τα $1.100 στο ράλι του σαββατοκύριακου

Η πρόσφατη μείωση επιτοκίων κατά 25 μονάδες βάσης από τη Fed επανέφερε τη δυναμική στις αγορές υψηλού ρίσκου και έδωσε...

Ιωάννης Ριζόπουλος 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Metaplanet Snaps Up 5,419 BTC, Becomes 5th Largest Corporate Holder

Christian Encila 30 minutes ago
XRP

Analyst Predicts XRP Price Will Definitely Reach $10,000, Gives Reasons Why

Scott Matherson 1 hour ago
Bitcoin

Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Ronaldo Marquez 2 hours ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    3 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    3 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    4 hours ago
  • 5 монети, които биха могли да...

    4 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    6 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.