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XRP 2020 - Quarter 1

With recent events around the COVID-19 pandemic still ongoing, the beginning of this quarter seems like eons ago yet the XRP ledger has been in continuous operation during this entire period. While the network has seen a drop in activity from the plethora of transactions which tested the network last fall, the XRPL is still undergoing sustained usage with variable periods of activity on different fronts. One notable benchmark is the recent increase in account activity which is still higher than typical averages. The exact cause for this is still unknown but could indicate increased interest in XRP technologies

As with our yearly report, we start with the baseline metric of Ledgers Closed which as expected is fairly consistent with low variance. In the last 3 months, 2,051,380 total ledgers were closed with a weekly average of 157,850.25 ledgers and an daily average of 22,793.11 ledgers.

Click on an image to expand

The next metric computed is total transactions, which amounted to 90,949,838 last quarter, with an average rate of 1,010,553 transactions per day. 2020-01-06 was the week seeing the highest number of transactions: 11,599,975 (avg: 74.71 per ledger) with 2020-03-02 seeing the fewest, 6,979,812 total trasnactions (38.04 per ledger). The standard deviation from the daily average was 330,982.60 transactions, representing a 32.75% variance.

As far as fees burnt (recall every transaction on the XRPL consumes a small amount of XRP in fees), the network deducted 99,169.32 XRP overall (99,169,322,795 drops) with a weekly average of 8,264.11 XRP and an daily average of 1,134.93 XRP. The day of 2020-03-15 saw an anomalous transaction that needlessly burned a large amount of XRP (26,057.85!) in fees resulting in a large spike on total fees burnt on that day / week (always test your software before production!)

Breaking transactions down by type, the XRPL processed 10,553,789 total payments last quarter, with an average of 821,136.33 per week, the week of 2020-01-06 seeing the most payments (3,856,250) and the week of 202-01-20 seeing the least (354,051). The daily average was 11,5975.70 transactions, with a standard deviation of 194,099.26 payments per day or 167.36%. The network saw 62,027,963 total offers, with the week of 2020-01-06 corresponding to the most (5,784,260) and the week of 2020-02-10 having the least (4,166,357)

Some payment/offer details:

  • The total XRP payment volume was: 27,272,544.16 XRP
  • The total USD payment volume was: $21,427,464,531,827.992 this included a single transaction of ~21T USD not backed by actual currency (see this for more info)
  • The total BTC payment volume was: 1,090,424,710.72
  • Payments currencies:

    XRP, USD, CNY, ZAR, CNT, ZEC, XCN, AUD, BTC, UPC, UPY, QAU, WCN, REP, ZCN, UPO, UPA, UPD, XLM, EUR, ETH, BCH, ETC, GCB, ULT, JPY, LTC, UPH, CCK, DSH, UPU, UPK, UPE, ALV, YCN, TOS, SSC, HGT, DOG, STR, RJP, RPL, MFS, BTR, CAD, UCD, MYN, ADA, WAR, OPT, SPD, DKS, EMX, SOL, DKC, BBB, FDB, MIN, RSC, XAU, MON, BKC, XNF, XMM, GBP, NZD, VTC, BRL, XAG, XPT, 534F4C4F00000000000000000000000000000000, CNC, ECT, DIC, ICE, INR, FCM, RBJ, XCC, DRP, KRW, RTS, JKC, BRC, RMB, CDT, LQD, LQB, ZNY, GDK, FDS, BCC, JED, XNV, XID, DCX, HKD, FMM, TTT, XPY, DAO, WBF, WWW, BBC, TTE
  • Currency pairs traded:

    XRP/CNY, CNY/XRP, XRP/USD, XRP/EUR, USD/XRP, XRP/XLM, XRP/BTC, EUR/XRP, DSH/XRP, XRP/ETC, BTC/XRP, USD/CNY, XRP/ETH, ULT/XRP, XRP/DSH, XRP/ULT, DSH/BTC, XRP/BCH, ULT/CNY, CNY/USD, CNY/ULT, USD/USD, XLM/XRP, CNY/CNY, BTC/DSH, BTC/BTC, USD/BTC, BTC/USD, BTC/ETH, DSH/EUR, ETH/XRP, XLM/CNY, DSH/USD, EUR/ETH, EUR/USD, CNY/XLM, JPY/USD, BTC/EUR, ETC/XRP, JPY/EUR, EUR/CNY, JPY/XRP, CNY/EUR, XRP/JPY, XRP/REP, ALV/XRP, EUR/BTC, BTR/XRP, BCH/XRP, MFS/XRP, USD/EUR, XAU/EUR, XAU/XRP, XRP/XAU, ETH/BTC, USD/MFS, CAD/ALV, XRP/RUB, UPC/XRP, UPO/XRP, UPK/XRP, XRP/SCZ, BTC/BCH, EUR/ETC, USD/BCH, UPU/XRP, BCH/EUR, EUR/REP, BTC/CNY, ETH/CNY, XRP/ALV, JPY/BTC, RUB/XRP, INR/XRP, ETH/USD, ETH/EUR, XRP/INR, EUR/DSH, XLM/BTC, USD/ETH, REP/XRP, CNY/BTC, CNY/ETH, BCH/USD, ULT/XLM, XRP/CAD, BTC/XLM, TOS/CNY, CNY/TOS, ALV/USD, JNG/XRP, USD/DSH, CAD/BTC, CAD/CNY, CAD/ETC, CAD/BCH, CAD/USD, CAD/XAU, CAD/STR, CAD/FMM, CAD/ETH, CAD/XRP, ETC/BCH, BTC/ETC, AUD/XRP, XRP/AUD, ETC/USD, HGT/USD, EUR/BCH, DSH/ETH, CNY/DSH, REP/ETH, KRW/XRP, USD/STR, USD/ETC, REP/EUR, XRP/KRW, XLM/ULT, XRP/LTC, LTC/XRP, ETH/DSH, LQD/XRP, XRP/XTL, XRP/LQD, BCH/ETH, XTL/XRP, RPL/XRP, XRP/FOO, EUR/XAU, MYN/XRP, ETC/EUR, CCK/USD, XRP/ILS, BCH/ETC, EOS/XRP, BCH/BTC, WAR/XRP, FMM/XRP, RSC/XRP, FMM/CNY, CNY/ETC, UCD/XRP, STR/XRP, UCD/USD, GBP/XRP, XNF/XRP, UCD/EUR, USD/ALV, CHF/XRP, ETH/REP, SCZ/XRP, JPY/JPY, USC/XRP, DSH/ETC, XRP/MFS, CDT/XRP, USD/UCD, CDT/USD, WWB/XRP, ADA/XRP, STR/XLM, USD/ULT, ULT/USD, CNY/XML, MXN/XRP, XRP/534F4C4F00000000000000000000000000000000, XMC/XRP, XKC/XRP, BRC/ALV, ALV/BRC, BRC/RMB, RMB/BRC, 534F4C4F00000000000000000000000000000000/XRP, XRP/SOL, XRP/CDT, MXN/CDT, CDT/MXN, CDT/BTC, RMG/XRP, XRP/RMG, XRP/UCD, XRP/ADA, UCD/XLM, GCB/XRP, ETH/BCH, ETC/DSH, ULT/BTC, ETC/ETH, BRL/XRP, ABC/XRP, MON/XRP, XRP/WAR, XRP/ABC, CDT/XLM, SGD/XRP, SGD/USD, XRP/GCB, BTS/XRP, XAU/USD, XRP/ZPR, ZPR/XRP, XRP/SGD, USD/CCK, XRP/RPL, XRP/YYY, YYY/XRP, WBF/XRP, XRP/WBF, XRP/WWW, WWW/XRP, WBF/USD, XRP/STR, XRP/BBC, EUR/XLM, BBC/XRP, XRP/GBP, ETC/BTC, USD/534F4C4F00000000000000000000000000000000, TTE/XRP

The network saw 63,283 new accounts last quarter, at an average rate of 4,846.42 per week or 1 account every 32.42 ledgers. The week of 2020-01-06 saw the most (6,738) and the week of 2020-01-20 saw the fewest (3,256).

Finally the following is a list of some interesting articles & news stories from our partner site XRP Arcade:

The complete dataset which was used to generate the metrics above can be found here.