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

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


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

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *