Amid SEC Case, Notable Events in Q1

A recent report published on Messari, a crypto research platform, has shown Ripple and the XRP ledger experienced significant growth and reached key milestones in Q1 2022. Despite Ripple dealing with a legal battle with the SEC, its main products have continued to grow. In Q1, the XRP ledger witnessed a 13.9% increase in daily active addresses and added over 140,000 new XRP addresses. The number of daily transactions on the XRP ledger also grew by 10.7%. The report indicates that the growth was driven by existing functionality and new features under development, especially those linked to NFTs. The price of XRP increased by 55.5% in Q1, outpacing the overall crypto market cap growth of 46%. The report highlights that other proposals promise to add new functionality to the XRP ledger, namely, XLS-38d and XLS-40d. The ripple community is exploring multichain solutions and five projects are highlighted in the report, including Coreum, Flare Network, Peersyst’s Ethereum sidechain proposal and the Root Network.