In its recent report, all XRPL metrics have gone up for two quarters in a row. This is the first time that this has happened since early 2023.
Active XRP Ledger (XRPL) addresses have experienced a 142% quarter-over-quarter increase.
There has also been a 12% increase in total new addresses.
On top of that, the XRP Ledger’s average daily transactions are up by 13%.
Payment transactions have surged by an impressive 36% on a quarter-over-quarter basis.
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Notably, receiver addresses surpassed active sender addresses for the fourth quarter in a row.
Messari has noted that the XRP Ledger is “primed” for further growth in the second quarter.
As reported by U.Today, the XRP Ledger Ethereum Virtual Machine (EVM) went live in late March. It is now on track to be launched on the mainnet in the second quarter of the year. This would be a boon for the XRP since it opens the door to Ethereum-native applications in such areas as decentralized finance (DeFi) and non-fungible tokens (NFTs).
The Messari report has also highlighted some other notable technical developments, such as the potential introduction of native smart contracts with the help of Extensions, a modular feature that would make it possible to attach code to existing primitives.
On top of that, the report mentions the Ripple USD (RLUSD) token has now achieved a market cap of $44 million on the XRP Ledger (but this is only a fraction of its total market cap, which now exceeds $300 million).
Ripple’s Jack McDonald has stressed that ramping up RLUSD on the XRPL remains a “priority” for the company.