XRP daily transaction volume hits all-time high, dwarfing Bitcoin and Ethereum

XRP’s daily transaction volume yesterday was around quadruple that of Ethereum, Bitcoin, and Litecoin combined.

2 min read

Nov 24, 2019

XRP transactions yesterday hit an all-time high to reach over 4 million in a single day, according to data from BitInfoCharts. The number of daily transactions was around four times greater than Bitcoin, Ethereum, and Litecoin combined.

XRP’s previous best was 1.7 million in January last year. This record is more than double that.

The daily number of transactions for XRP has been steadily rising over the past few months. XRP has also raced ahead of its main rival for transaction volume, Ethereum. At the start of October, there were around 850,000 transactions for XRP per day, and around 700,000 daily Ethereum transactions.

XRP took the lead towards the end of October and at the start of November, typically netting more than 1.5 million transactions per day. Ethereum stayed much the same. Last week, XRP daily transactions dipped slightly, to around 1.1 million transactions per day.

But this week has been marked by significant growth. On Monday, daily transaction volume for XRP was 1.2 million; on Tuesday 1.9 million; on Wednesday 1.7 million; on Thursday 2.3 million; on Friday 3.35 million, and yesterday, slightly more than 4 million. Meanwhile, daily transaction volumes on Ethereum, Litecoin, and Bitcoin, have remained relatively stable.

The spike in transactions might have something to do with XRP’s partnership with money transfer company MoneyGram, which this month pledged to step up usage of xRapid, a means of settling cross-border payments using XRP.

Increased transaction volume has not bumped up XRP’s price. In fact XRP sunk this week to a yearly low of $0.225687.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Get Email!

Stanford Researchers Built AI Agents That Accurately Predict Human Behavior

Stanford University researchers have developed AI agents that can predict human behavior with remarkable accuracy. A recent study, led by Dr. Joon Sung Park and his team, demonstrates that a two-hour interview provides enough data for AI to replicate human decision-making patterns with 85% normalized accuracy. Digital clones of a physical person go beyond deepfakes or "low-rank adaptations" known as LoRAs. These accurate representations of personalities could be used to profile users and test th...

Jim Cramer Says Bitcoin Is a ‘Winner’—Investors Would Really Rather He Not

“Mad Money” host Jim Cramer startled Bitcoin investors Friday, panicking swaths of investors on Crypto Twitter after the former crypto skeptic issued a bullish call. Fielding a question from a Florida-based investor during the show’s Lightning Round Thursday, Cramer said that the Bitcoin-buying firm MicroStrategy is a less attractive investment than Bitcoin itself, from his occasionally dubious perspective. “I’ve got to tell you it’s a Bitcoin play—I prefer to actually own Bitcoin,” Cramer said...

Gary Gensler Is Leaving the SEC, But Robinhood Exec Dan Gallagher Doesn't Want the Job

Robinhood Chief Legal Officer Dan Gallagher isn’t interested in serving as the next chairman of the Securities and Exchange Commission (SEC), expressing content with his current role at the popular investing platform. "It is always an honor to have your name in the mix for an incredibly important job like SEC Chairman,” Gallagher told Decrypt in a statement. “However, I have made it clear that I do not wish to be considered for this position.” Gallagher’s statement follows SEC Chair Gary Gensler...

News

Courses

Deep Dives

Coins

Videos