Most Popular

Ripple’s XRP Sales Ballooned to $717 Million in Q4

Ripple’s XRP sales have recorded a 46% quarter-quarter increase, according to the company’s recently published Q4 report.

Notably, sales attributed to “On-Demand Liquidity” (ODL) customers surpassed $1 billion in the fourth quarter. This underscores the growth of the company’s payment solution.

Ripple says that it keeps seeing more global demand for the ODL product, which now boasts 20 payout markets.

It also purchased $321.97 million worth of XRP in the secondary market.

Overall, Ripple sold a total of $717 million in Q4 compared to $491.74 million in Q3.

The company hasn’t conducted any programmatic sales since the fourth quarter of 2019, which means it didn’t sell any XRP tokens to exchanges during the fourth quarter.

As reported by U.Today, Ripple CEO Brad Garlinghouse recently said that his company was in the strongest financial position to date with $1 billion in the bank. After performing a stock buyback, the San Francisco-based distributed ledger provider has nabbed a valuation of $15 billion.

A 12% drop in trading volume

The report also says that XRP’s global trading volume dropped 11.8% (from $2.075 billion to $1.83 billion in the fourth quarter of 2021).

Ripple’s sales accounted for 0.43% of the total trading volume during the previous quarter.

Source: U.Today


    Leave Your Comment

    Forgot Password

    Ledger Nano X - The secure hardware wallet