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Reading: Ripple Records $226 Million XRP Sales in Q4 2022
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Ripple Records $226 Million XRP Sales
Cryptodetective > Blog > News > Cryptocurrency News > Ripple > Ripple Records $226 Million XRP Sales in Q4 2022
NewsCryptocurrency NewsRipple

Ripple Records $226 Million XRP Sales in Q4 2022

crypto
Last updated: 2023/01/31 at 9:27 PM
crypto Published January 31, 2023
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Review Overview
7.8

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.

Contents
Q4 2022 Performance OverviewXRP Sales FiguresGrowing XRP AdoptionXRPL ProgressEVM Sidechain LaunchNFT Boom on XRPLRipple Names Monica Long as New PresidentNew Leadership at RippleExperience and SkillsFocus on Growth and ExpansionPassion for Blockchain Technology

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.

XRPL Progress

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.

Review Overview
7.8
Adoption of XRP and ODL 8 out of 10
Development and progress of XRPL 9 out of 10
Launch of new products and services 7 out of 10
Global reach and impact of Ripple's technology 7 out of 10
Good Stuff Increased XRP revenue via ODL, due to growing demand and acceptance of technology Spectacular growth in the number of new wallets on XRP Ledger Focus on launching the first phase of EVM sidechain for DeFi applications Massive surge in NFT activity on XRPL New president with a wealth of experience and passion for blockchain technology Focus on growth and expansion globally
Bad Stuff Decreased XRP sales revenue in Q4 2022 compared to Q3 2022 Yearly decrease in on-chain activity of XRPL
Summary
Ripple Labs has released its Q4 2022 results, which showed a decrease in XRP sales revenue but an increase in XRP revenue via On-Demand Liquidity (ODL). The report also highlighted progress in the XRP Ledger and the launch of the first phase of Ripple's EVM sidechain. Additionally, Ripple has seen a surge in NFT activity on XRPL and named Monica Long as its new president. The report shows that Ripple is actively working on improving its technology and expanding its reach globally, while also experiencing growth in certain areas like NFTs on XRPL. However, the decrease in XRP sales revenue is a concern, but it is balanced out by the growth in XRP revenue via ODL and the promising progress in XRPL.

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TAGGED: Blockchain, cryptocurrency, cryptocurrency market, decentralized, DeFi, EVM sidechain, executive, financial results, fourth quarter, Monica Long, NFT, ODL, president, Ripple, XRP, XRPL

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