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Ripple's XRP Sales Grew 97 Percent in Q1

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Thu, 05/06/2021 - 19:46
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Alex Dovbnya
Ripple's XRP sales increased by 97 percent in the first quarter of 2021
Ripple's XRP Sales Grew 97 Percent in Q1
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Distributed ledger tech provider Ripple increased its XRP sales by 97 percent in the first quarter of 2021, according to its recently published quarterly report.              

The San Francisco-based company sold a total of $150.34 million worth of XRP in Q1. It attributes the increase to "deeper engagement" with customers who use its XRP-powered On-Demand Liquidity (ODL) product for cross-border payments: 

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. 

Related
Ripple’s Partnership with Novatti Goes Live

In December, the U.S. Securities and Exchange charged Ripple with conducting allegedly illegal XRP sales to the tune of $1.3 billion, kicking off a long-lasting legal battle.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.