Ripple Reports Surge in Demand for XRP during Q1 2021

Ripple, a San Francisco-based Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company, yesterday published its quarterly XRP Markets Report and highlighted the growing demand for XRP in Q1 of 2021. The company’s total XRP sales reached $150.34 million during the first quarter of 2021, which is a jump of approximately 97% compared to Q4 of 2020.

According to the official announcement, global XRP volume jumped significantly during the first quarter of this year. Ripple mentioned the role of key on-demand liquidity (ODL) customers in the recent surge of XRP sales.

During the last quarter, Ripple accelerated its global expansion through several partnerships with companies around the world. The blockchain firm acquired a 40% stake in Tranglo, one of Asia’s leading cross-border payment firms. During a recent interview with Reuters, Ripple CEO Brad Garlinghouse mentioned that the company is growing in Asia, and the activity of XRP liquidity (XRPL) has increased significantly in the region.

“Ripple continued to engage in sales to support ODL and key infrastructure partners as part of providing increased XRPL to improve the ODL experience of certain customers, eliminating the need for pre-funding and enabling instant global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. Total sales by Ripple, net of purchases, ended the quarter at 7 bps or 0.07% of global XRP volume according to CryptoCompare TopTier (CCTT) volumes,” Ripple mentioned in the official announcement.

XRP Accumulation

During the latest report, Ripple highlighted a significant spike in the number of whale addresses. The company mentioned that the number of wallets holding between 1 million and 10 million XRP increased from 1,125 to 1,196 during the first quarter. According to the company, 319 crypto wallets are holding at least 10 million XRP.

Since the start of this year, crypto whales have accelerated the movement of the world’s fifth-largest cryptocurrency in large amounts. According to crypto analytics firm Whale Alert, a leading XRP whale account moved 6 million coins from digital exchange, Kraken to an unknown crypto wallet on 6 May at 16:23 UTC. As of writing, the world's fifth-largest digital currency is trading near $1.57.