Ripple fintech decacorn has published its quarterly XRP markets report for Q4 2020. Among other facts, this document mentions that in quarter 4, Ripple doubled its OTC sales of XRP to market participants to sustain XRP liquidity.
Ripple’s XRP sales double in Q4
In the last quarter of last year, Ripple sold a total of $76.27 million (net of $45.55 million purchases) to market participants. In Q3 2020, the amount of tokens sold by the company equaled $35.84 million.
According to the report, these sales and leases are performed by the company as part of providing certain Ripple partners and members of RippleNet with XRP liquidity, so that they can improve their ODL operations.
33 market participants have taken restrictive actions against XRP
The report also reveals that after the US SEC announced its legal action against Ripple and two of its CEOs, Brad Garlinghouse, and a cofounder and former CEO Chris Larsen, multiple platforms started taking some sort of restrictive measures against XRP.
The did not delist it but suspended trading XRP pairs. Among them are such crypto exchanges as Bitstamp, Coinbase, Kraken, etc, as well as Grayscale, which shut down their Grayscale XRP Trust.
However, Coinbase customers can still use their XRP wallets for storing the coin or withdrawing it to other platforms or wallets.
Overall, the report speaks about thirty-three such companies.
2.6 billion XRP locked in escrow
Every first day of a month, Ripple releases one billion XRP tokens from its escrow wallet to use part of that money for sales or covering its operational expenses.
However, around eighty percent of that is usually locked back afterwards. In Q4 2020, according to the report, Ripple locked back in escrow 2.6 billion XRP.
"In Q4 2020, three billion XRP were released out of escrow (one billion each month) in line with prior quarters. In total across the quarter, 2.6 billion XRP were returned and subsequently put into new escrow contracts."
Alex Dovbnya
Gamza Khanzadaev
