Ripple CEO Calls Q4 2024 a Defining Chapter for XRP as Latest Markets Report Shows Remarkable Growth

The Ripple CEO has called Q4 2024 a pivotal moment in XRP history as the latest XRP markets report highlights impressive growth metrics. Notably, upon the release of Ripple's Q4 2024 XRP Markets report, the payment company's CEO Brad Garlinghouse highlighted the importance of the quarter, describing it as one of the most remarkable periods in XRP's history.  "Q4 2024 was absolutely one for the XRP history books," Garlinghouse remarked, as the quarterly report revealed a dramatic turnaround, with XRP surging 280%. The report also noted the easing of regulatory pressure, growing institutional interest, and a changing U.S. regulatory atmosphere. https://twitter.com/bgarlinghouse/status/1885451326131187947 XRP 280% Surge and Institutional Demand The Ripple report pointed out that XRP experienced a 280% increase in value throughout Q4 2024, marking a major recovery from years of underperformance amid regulatory setbacks.  Ripple stressed that before the U.S. Securities and Exchange Commission (SEC) targeted Ripple in 2020, XRP was a strong contender for the second spot among the largest crypto assets. However, following the charges, XRP's underperformance pushed it below the top 5 at some point. Now, with regulatory challenges easing, XRP has regained strength, supported by strong trading volumes and growing investor confidence. XRP closed the quarter as the third largest crypto asset and looks primed to start contesting for the second spot again. Notably, the report revealed that spot trading volumes for XRP skyrocketed after the U.S. presidential election. In early Q4, daily trading volumes were stable at $1 billion but declined to $500 million by mid-November.  Following the election, activity surged to an average of $5 billion per day, with a record $25 billion on Dec. 2. Binance led with 36% of total spot volume, followed by Upbit (20%) and Coinbase (9%). U.S. exchanges like Coinbase and Kraken gained market share after the election.  

Moreover, institutional interest in XRP continued to rise, with major financial firms taking steps toward launching XRP-based investment products. WisdomTree filed an S-1 application for a spot XRP exchange-traded fund (ETF), joining Bitwise, Canary Capital, and 21Shares.  New US Crypto Policies and SEC Developments In addition, the report confirmed the important role the U.S. elections played in driving XRP's growth. For context, XRP's Q4 2024 uptrend began on Nov. 5 following the Donald Trump election victory.  The new administration promised to fire anti-crypto SEC Chair Gary Gensler and create clear rules for the industry. Upon inauguration, President Trump signed an executive order promoting regulatory clarity and fair banking access for legal crypto businesses. It also established a working group to focus on digital asset markets. Further, leadership changes at the SEC brought fresh perspectives. For context, Chair Gensler resigned on Jan. 20 and the Trump administration appointed Mark Uyeda, known for criticizing the SEC's stance on crypto, as acting Chair.  Growth in XRP Market and On-Chain Metrics Meanwhile, during Q4, XRP's realized volatility remained low in early November at 40% but surged past 200% after the U.S. election. By the end of the year, volatility settled at 160%. XRP's price peaked at $2.70 by late November, marking a more than 500% increase from earlier in the quarter.  

Moreover, XRP's average daily trading volume reached $3.4 billion on top-tier exchanges. The XRP-to-Bitcoin ratio climbed 130%, despite Bitcoin hitting an ATH of around $108,000. XRP trading against U.S. dollars and USD-backed stablecoins increased from 14% in Q3 to 25% in Q4, while most trades continued to involve USDT.   The XRP Ledger (XRPL) showed strong on-chain activity, despite a slight decline in total transactions to 167 million. Automated market maker (AMM) swaps saw explosive growth, rising from $31.23 million in Q3 to $774.15 million in Q4. This surge contributed to total DEX volume surpassing $1 billion.   New wallet creations jumped massively, reaching 709,000 in Q4 compared to 140,000 in Q3. The growing adoption of XRPL-based tokens and meme coin platforms fueled this trend. Rising XRP prices led to an increase in transaction fees, with total XRP burned climbing from 592,000 in Q3 to 724,000 in Q4.