A recent report by Messari sheds light on the state of the XRP Ledger (XRPL) and its notable performance during the fourth quarter (Q4) of 2023. The report highlights significant milestones, including its native token market capitalization, distribution, burning mechanism, price movement, legal battle, and network activity. Distribution Of 4 Billion XRP Contributes To Market Cap Growth? As of Q4 2023, XRP, the native token of the XRPL, emerged as the sixth-largest cryptocurrency by market capitalization, reaching $33.7 billion. The token’s circulating market cap witnessed a substantial 21.2% increase quarter-over-quarter (QoQ) and an impressive 93.6% growth year-over-year (YoY). According to Messari, the increase in market capitalization was primarily due to the distribution of 4 billion XRP and a significant price spike on November 13, when the token reached as high as $0.7503. Related Reading: Crypto CEO Says Get Ready For Solana To ‘Rally Higher Again’ With New Target Throughout 2023, 4 billion tokens were distributed, accounting for 8% of the XRP supply from the end of 2022. While this distribution contributed to the increase in market cap, it was overshadowed by the impact of the price spike. Additional ..
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 Token Market Cap Surged 47% In Q4 To $169M: What Caused The Surge?){kind=link}