The XRP Leder (XRPL) has seen significant growth in multiple segments in protocol during the second quarter of 2023, despite the prevailing controversies surrounding the ongoing Ripple vs SEC lawsuit, as reported by Messari.
The report indicates that the market cap of XRP has increased by 42.5% since last year. This growth can be attributed to the rise in the asset’s price during the first quarter of 2023. Additionally, the quarter witnessed a 12.7% increase in the value of non-fungible tokens (NFTs).
Despite the ongoing SEC lawsuit, Ripple is making progress, attracting more users to its platform. The XRPL has seen an increase in new addresses, with the total number of addresses now reaching 138,700, demonstrating a 31.85% growth compared to last year.
A report indicates that the Q2 market cap declined by 10.7%, falling from 28.8 billion to 24.8 billion, compared to Q1.
XRP growth is not only limited to market cap and user acquisitions, as it introduced two new protocols; Coreum, which focuses on ecosystem security, and Root Network, which focuses on metaverse innovations.
Ripple has focused on core fundamentals like real estate tokenization and research in blockchain technology. These fundamentals drive innovation and contribute to achieving long-term growth.
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