The XRP Ledger (XRPL) is experiencing a significant surge in non-fungible token (NFT) activity, as reported by Ripple in its latest quarterly update. According to the report, more than half of all NFTs ever minted on the XRPL since the introduction of the XLS-20 standard in 2022 were created in the fourth quarter of 2023. This represents a staggering 400% increase from the previous quarter. In Q4 alone, there were 3.4 million NFT mints on the XRPL, with total NFT transactions increasing by 170% compared to the previous quarter. Additionally, Ripple highlights that on-chain transactions on the XRPL rose by 34% and the number of wallets grew by over 30% in Q4.

In addition to the NFT surge, Ripple also announced a legal victory against the U.S. Securities and Exchange Commission (SEC) in its quarterly report. The SEC had sued Ripple in late 2020, alleging that it had sold XRP as an unregistered security. However, last summer, a US District Judge ruled that Ripple’s automated sales of XRP did not constitute security offerings. The judge did agree with the SEC’s claim that Ripple’s direct sales of XRP to institutional buyers were securities offerings. As a result, Ripple has adjusted its sales strategy to comply with the court’s ruling and intends to prioritize compliance, ethics, and transparency moving forward.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets and is not an investment advisor.