Q4 2022 Performance Overview
Ripple Labs has released the results of the fourth quarter of 2022. The report contains not only important information about the company’s direct activities, but also provides an overview of the performance of XRPL, the decentralized blockchain ecosystem used by the company.
XRP Sales Figures
The net XRP sales revenue in Q4 2022 was $226.31 million, a decrease of 27.15% compared to Q3 2022.
Growing XRP Adoption
Despite the decrease in net revenue, the total XRP revenue via ODL increased by 5.12%. According to the report, this is largely due to the increasing demand and acceptance of technology, as well as expansion into French, Swedish, and African markets through new partnerships.
There was a yearly decrease in the on-chain activity of XRPL, but the number of burned XRP for fees decreased by 30.4% to 101,968. At the same time, the number of new wallets on the XRP Ledger spectacularly doubled on a quarterly basis to 228,143.
EVM Sidechain Launch
Ripple Labs continues to move forward and is constantly developing. The company is focusing on launching the first phase of its EVM sidechain, allowing popular DeFi applications such as Uniswap, Compound, and Aave to run on XRPL.
NFT Boom on XRPL
There has also been a massive surge in full NFT functionality on XRPL after the introduction of the XLS-20 standard. Since the implementation, more than 800,000 NFTs have been created and the number of transactions has increased by 410,600, adding extra volume to the XRP market.
Ripple Names Monica Long as New President
New Leadership at Ripple
Ripple, the blockchain company based in San Francisco, has named Monica Long as its new president earlier this week. The new president of the company has been part of Ripple since 2013 and has been involved in the development of the Ripple ecosystem, including her work on the introduction of On-Demand Liquidity (ODL), which is now used in 40 countries
and is one of the company’s most popular products.
Experience and Skills
Long brings a wealth of experience to her new role, including a background in marketing, strategy, and product management. She is well known in the blockchain industry and has a reputation for being a visionary leader.
Focus on Growth and Expansion
Under Long’s leadership, Ripple will focus on expanding its global reach and increasing adoption of its blockchain technology and products. She has already outlined her vision for the company, which includes expanding partnerships, launching new products and services, and leveraging the latest technological advancements to drive growth.
Passion for Blockchain Technology
Long is passionate about the potential of blockchain technology and has been a strong advocate for its use in the financial industry. She is committed to working with customers, partners, and the wider blockchain community to help bring the benefits of the technology to more people around the world.