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XRP is the native cryptocurrency of the XRP Ledger (XRPL), which supporters have long promoted as a high-speed, low-cost cross-border payment solution. But how much money flows through the network daily? Let's analyze.
XRP Trading Volume Rises After Trump's Re-election
According to the latest data from Glassnode, the daily settlement volume of XRP on the blockchain (in USD) typically fluctuates between $300 million and $1 billion.
However, since Trump won the U.S. presidential election in November 2024, the average daily settlement volume of XRP has surged to $2.28 billion, indicating a significant increase in network activity. This growth may primarily be driven by the concurrent rise in XRP's price.
Total XRP Transfer Volume. Source: Glassnode
Nevertheless, these peaks do not necessarily reflect stable adoption or payment activity; rather, they may further relate to speculative behavior, transfers associated with Ripple, whale movements, and reshuffling between exchanges.
Ripple is the Driving Force Behind Many Large XRP Transfers
One significant factor behind the surge in XRP's daily transfer volume is the substantial token sales by Ripple and its co-founder Chris Larsen.
Chris Larsen's XRP Sales (2024-2025):
On September 18, 2024, Chris Larsen transferred 50 million XRP (approximately $29 million) from a wallet that had been inactive for over 11 years.
🚨 🚨 50,000,000 #XRP (29,120,312 USD) transferred from Chris Larsen to unknown wallet https://t.co/D9iopMqePM
By early 2025, Larsen had sold over $116 million worth of XRP.
These sales resulted in the XRP reserves in one of his wallets decreasing from 500 million XRP to 410 million XRP.
Previously, the U.S. Securities and Exchange Commission (SEC) estimated that Larsen sold approximately $453.69 million worth of XRP between 2017 and 2020.
The sales in 2024-2025 are notable for their scale and timing, occurring when XRP's price exceeded $3.
This indicates that Ripple typically increases sales during bull markets and reduces sales when XRP's price declines.
In 2017, Ripple locked up 55 billion XRP—most of the total supply—in a series of escrow contracts. Each contract contained 1 billion XRP, set to be released monthly over 55 months.
However, any unused portion would be returned to the escrow account and postponed to the end of the queue, meaning it would be re-locked for another 55 months.
During active sales periods, these fund movements can lead to a significant spike in total transfer volume, especially in times of heightened speculative interest.
🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 370,000,000 #XRP (778,259,699 USD) locked in escrow at #Ripple https://t.co/Rk079yzgNf
Bitcoin and Ethereum Outperform XRP Overall
Bitcoin and Ethereum consistently lead XRP in daily transfer volume, highlighting broader adoption rates and higher market trust.
According to Glassnode, Bitcoin's average daily transfer volume across the dataset is approximately $23.26 billion.
Total Bitcoin Transfer Volume. Source: Glassnode
In recent years, the average daily settlement volume on the Bitcoin network has reached $64.03 billion over the past 30 days, likely related to strong institutional inflows, ETF-driven trading activity, and speculative trading.
Meanwhile, Ethereum's overall daily transfer volume is about $2.53 billion, but its average over the last 30 days is approximately $5.67 billion.
Total Ethereum Transfer Volume. Source: Glassnode
Total Transfer Volume Reflects Actual Usage
Transfer volume is a key on-chain metric that shows the actual value settled daily through the blockchain. High transfer volume, especially sustained high levels, indicates a high level of user activity in transferring funds on-chain.
Bitcoin and Ethereum remain active through custodians, ETFs, and DeFi applications.
However, in the case of XRP, usage seems to be concentrated within trading cycles. Despite Ripple's efforts to promote XRP's use in cross-border settlements through On-Demand Liquidity (ODL), on-chain data suggests that enterprise user adoption remains limited.
Nonetheless, the XRP Ledger has recently introduced tools such as stablecoin issuance, tokenization, and EVM compatibility.
For example, in the fourth quarter of 2024, the automated market maker (AMM) trading volume on the ledger grew by 3100%, reflecting exponential growth in usage.
Key Metrics of the XRP Ledger as of December 31, 2024. Source: Messari
However, these innovations have yet to generate transaction volume levels comparable to Ethereum and Bitcoin.
Related: As supply pressure intensifies, Pi Network price approaches historical lows
This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct independent research before making decisions.
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