Q4 2024 XRP Market Report
1. Market Performance and Key Data
1. XRP Price and Trading Volume
Price Surge: XRP increased by 280% in Q4, reaching a high of $2.70 (over 500% increase).
Trading Volume Surge: After Trump's victory, the average daily trading volume skyrocketed from $500 million to $5 billion.
Volatility Increase: XRP price volatility rose from 40% to 200%.
2. Exchange Market Share
Binance Dominance: Accounts for 36% of XRP spot trading volume.
Increased Share of Dollar Stablecoins: The USD/USDC trading pair share rose from 14% in Q3 to 25%.
2. Policy and Regulatory Dynamics
1. Shift in U.S. Policy
Trump's Executive Order: Calls for clear cryptocurrency regulatory legislation, supports compliant stablecoins, ensures access to banking services, and proposes the establishment of a 'digital asset strategic reserve'.
SEC Reforms: Gary Gensler resigned, new acting chairman Uyeda criticized SEC's 'anti-crypto policies hinder innovation'; SEC repealed controversial policy SAB 121, easing restrictions on bank and crypto company collaboration.
2. Global Regulatory Progress
Europe MiCA Effective: EU's unified regulatory framework for crypto assets.
Hong Kong Accelerates Licensing: Competing for the Asia-Pacific crypto hub position.
UAE Innovative Stablecoin Rules: Allowing the issuance of 'interest-bearing stablecoins', expanding DeFi applications.
3. XRP Ledger (XRPL) Ecosystem Development
1. Technology Upgrades
AMM and DeFi: Q4 on-chain DEX trading volume surged from $63.4 million to $1 billion, with AMM accounting for 77%; lending protocols introduced.
Compliance Tools: XLS-40 supports decentralized identity (DID), enhancing institutional compliance participation.
2. Stablecoin RLUSD
Global Layout: RLUSD has launched on exchanges like Uphold and Bitstamp, supporting cross-border payments and DeFi; Ripple commits to 100% reserve transparency.
Payment Network: Ripple Payments covers over 90 countries, processing $70 billion in transaction volume.
Q4 2024 is a turning point for XRP: Regulatory pressure easing, Trump policy dividends, and XRPL technology upgrades together drive price and ecosystem explosion. Long-term focus needed on U.S. legislative progress, RWA scaling, and SEC lawsuit outcomes.
