XRPL grows in Q2 despite SEC lawsuit concerns

During the second quarter of 2023, the XRP Ledger, despite concerns surrounding the Ripple vs. SEC lawsuit, experienced significant growth in various aspects of its protocol, as indicated by a recent report from Messari, a crypto analytics platform.



According to the report, the circulating market cap of XRP has increased by 42.5% year-to-date, although it declined by 10.7% in Q2, from $27.8 billion to $24.8 billion. While the transaction volume on the XRP platform decreased during this quarter, there was a noteworthy 12.7% rise in average daily nonfungible token (NFT) transactions, increasing from 13,800 to 15,500. Despite being overshadowed by competitors like Ethereum and Solana, the XRPL is gaining traction in decentralized finance (DeFi) and NFT ecosystems.



The Messari data also revealed the expansion of XRPL sidechains, with


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