The sheer weight of the XRP Ledger transaction count just before the new year has sparked excitement in the community about XRP’s potential.
XRPL Hits ATH in Transaction Count
Recently, prominent XRP blockchain explorer XRPScan called attention to the growing daily transaction count on XRP Ledger.
In a post on X, XRPScan disclosed that the XRPL achieved a record-breaking milestone on December 30, 2023. It noted the blockchain processed an all-time high of 6,862,618 transactions.
The post stated that the figure surpassed the previous record of approximately five million daily transactions in November 2021.
Meanwhile, data from XRPScan reveals that the number of processed transactions has risen from the 6.8 million reported in the tweet to a new record of 6,931,874. This new record was set on the new year’s eve, December 31, 2023.
Moreover, according to XRPScan statistics, the transactions demonstrated an impressive 99% success rate. Also, the report indicated that the upward trend in XRP transaction count paralleled a new record high for payment transactions.
To elaborate, data from the XRPL explorer revealed that XRP payments peaked at 5,998,822 on New Year’s Eve. The last instance of a comparable surge in payment transactions on the XRP ledger was observed on November 29, 2019, with a total of 3,234,544 XRP payments.
Another on-chain metric related to XRP that mirrored the transaction count uptick was NFToken mint, which reached an all-time high of 216,693 on December 31.
XRP Community Reacts
This new achievement has elicited bullish commentary from the crypto community, as it demonstrates the network’s scalability. The surge in transaction is likely caused by the recent emergence of “XRP20” inscriptions on the network.
“Wow, onward and upward,” a Dublin-based crypto enthusiast commented. Another X user remarked, “Very cool, enjoy using for the smooth, fast, and extremely low failure rate transactions.”
Similarly, a notable figure in the crypto community expressed a sentiment that the heightened transaction is a stress test laying the ground for XRP’s “boom time.” Meanwhile, some commenters voiced skepticism about the uptick in XRP transactions.
At press time, XRP trades at $0.6185, with a 4% decline in its cumulative seven-day performance.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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