Ripple Reports Massive XRP Sales for Q1, as ODL Demand Soars
Login

Ripple Reports Massive XRP Sales for Q1, as ODL Demand Soars

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


For its Q1 report for 2021, Ripple (XRP) has announced that it grossed a total of $150.34 million in XRP sales, a 97% increase from its Q4 2020 report of $76.27 million.

The company noted that the sales boom was triggered by the growing demand for RippleNet’s On-Demand Liquidity or ODL service.

The company noted that:

“Ripple continued to engage in sales to support ODL and key infrastructure partners as part of providing increased XRP liquidity to improve the ODL experience of certain customers, eliminating the need for pre-funding and enabling instant global payments.”

“Q1 2021 was phenomenally strong for crypto, with the overall market cap ballooning to nearly $2T for the first time.”

Ripple, which is expected to IPO soon, revealed that to meet the growing demand for ODL, it has acquired a 40% stake in one of Asia’s top cross-border payments platforms, Tranglo. According to the announcement, this partnership should help the cryptocurrency company expand its reach to the Asia Pacific region.

XRP Trading Volume Grew by 37% in Q1 2021
Ripple also stated in its report that the total XRP volume for Q1 2021 was 37.7% higher than the previous quarter with $204 billion from $148 billion in Q4 2020. According to the company, these figures were compiled with the use of CryptoCompare TopTier (CCTT) volumes. Ripple stated that:

“CCTT’s reported daily volume for XRP increased significantly in Q1 2021 from Q4 2020. The average daily volume reported was $2.26B in Q1 vs. $1.61B in the previous quarter. Notably, XRP volumes posted four of the highest volume days ever recorded.”

Meanwhile, the company revealed that 3 billion XRP tokens got released from its escrow, in line with previous quarters and the official escrow arrangement. Ripple added that 2.7 billion XRP tokens got returned and put into new escrow accounts afterward.

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News