Ripple Reports a ‘Strong’ End of 2020; Sold 112% More XRP in Q4

2021-2-7 15:53

Ripple has released its Q4 report that revealed the total XRP sales of $76.27 million, up from $35.84 million in the previous quarter.

While Ripple has been not selling any XRP programmatically for over a year now, they continue their over-the-counter (OTC) sales and leases to RippleNet ODL customers to increase XRP liquidity.

Total XRP sales represent 0.05% (5 bps) of global XRP volume, compared to 10bs in the previous quarter.

San Francisco-based fintech company also covered SEC’s enforcement action against Ripple, which it says is stifling American innovation and progress. The US regulatory action, the report said, “caused havoc” as it prompted platforms to halt XRP trading — impacting an estimated $200 million of XRP volumes per day last quarter.

But Ripple maintained that “close to 90% of XRP volumes remained intact,” as the majority of the volume and XRP-related business happens outside of the US.

“With the SEC’s enforcement action, the industry has gone from regulatory uncertainty to regulatory chaos at the expense of retail holders with no connection to Ripple and orderly markets.”

Despite the legal action against the company, Ripple says it ended 2020 “strong” with record customer numbers. The lawsuit was filed towards the end of December 2020.

While On-Demand Liquidity (ODL) signed on over 15 new customers, ODL volumes recorded 12x year-over-year growth.

In RippleNet’s “best year to date,” the company processed about 3 million transactions on the network, nearly 5x of 2019.

Additionally, XRPL and Interledger Protocol combined reached an estimated 12 million users, and RippleX partnered with over 40 companies for XRP utility.

Reportedly, Q4 delivered several milestones in terms of institutional infrastructure, with DSB announcing the launching of its digital exchange and Standard Chartered Ventures partnering with Northern Trust to launch a crypto custodian, both of which will list top assets, including XRP.

XRP/USD XRPUSD 0.4392 $0.01 1.19% Volume 7.55 b Change $0.01 Open$0.4392 Circulating 45.4 b Market Cap 19.94 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=XRP&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~XRP~USD"); The post Ripple Reports a ‘Strong’ End of 2020; Sold 112% More XRP in Q4 first appeared on BitcoinExchangeGuide.

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