Ripple Labs Inc. recently released its Q1 ecosystem performance report, detailing updates on its SEC complaint and notable on-chain activity. The report highlighted a significant 108% increase in transactions on the XRP Ledger protocol, attributed to a surge in new applications and users.

Transaction fees doubled, indicating heightened ledger activity, while the dollar volume on the DEX increased by 5%. Despite these positive trends, there was a decrease in new wallet creation by 11%, although the average USD transaction fee dropped by 45%.

Regarding the legal battle with the SEC, Ripple has contested the accusations and remains committed to defending its position. As of the latest data from CoinMarketCap, XRP's value sits at $0.5202, showing a slight decrease of 0.48% from the previous day but maintaining a bullish trend with a 2.68% increase over the past week.