Finance and technology company Ripple doubled its XRP sales in the first quarter of 2021 compared to the fourth quarter of 2020. The latest quarterly report shows that. Ripple is constantly being criticized for lowering the price by selling XRP.
Ripple’s XRP sales have increased by 2 times
Ripple, He announced that the total XRP sales from the first three months of 2021 were $150.34 million.. This figure is 97 percent higher than the $76.27 million sales of the fourth quarter of 2020.
The company also explains the reason for increasing its XRP sales.. According to the statement, the increase is related to the increase in demand for RippleNet’s On-Demand Liquidity or ODL service. continued to sell to support ODL and key infrastructure partners, as part of providing increased XRP liquidity to improve the. Thus, it eliminates the need for upfront financing and enables instant global payments.”
The first quarter of 2021 was incredible for the cryptocurrency industry.. Total market cap also approached $2 trillion for the first time.
Related – New tactic in Ripple case from SEC!
Ripple token volume is increasing
Ripple, which is rumored to go public, that is, to hold an IPO, has agreed to buy 40 percent of Tranglo, Asia’s leading cross-border payments specialist, to meet the increasing demand in ODL.. The partnership will help Ripple expand the reach of its services in the Asia Pacific region.. XRP volume was $148 billion in the last quarter of 2020.
Ripple states that 3 billion XRPs were released from escrow accounts.. Of these, 2.7 billion XRP were returned and placed in new escrow accounts in the first quarter.
GoinGecko states that there are currently 46 billion XRP tokens in circulation.. The total supply is 100 billion tokens.. So the company still controls 54 percent of the total supply.
How about the XRP price?
The report also states that whales accumulated XRP in Q1. Accordingly, the number of accounts holding XRP between 1 and 10 million tokens increased by 6.3 percent.. Because in three months, the XRP price also gained 154 percent.
XRP is currently trading at $ 1.53 with a decrease of 11 percent.. Ripple recorded the top of 2021 at $1.92 on April 14.. But it’s still far behind the $3.4 ATH it saw in January 2018.
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