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> Total XRP Sale by Ripple Increases Sharply in Q4 2021

Total XRP Sale by Ripple Increases Sharply in Q4 2021

Saturday, 29/01/2022 | 04:33 GMT by Bilal Jafar
  • The overall ODL-related sales reached $1,039 million.
  • The global XRP volume decreased slightly in the recent quarter.
xrp

Ripple recently published its Q4 of 2021 XRP Markets report and highlighted a significant jump in total XRP sales by the company. For the fourth quarter of 2021, the blockchain firm reported overall sales (net of purchases) of $717.07 million, compared to $491.74 million during Q3 of 2021.

An enormous jump was reported in ODL-related sales as the figure breached $1,039 million, which is substantially higher compared to $491 million in the third quarter of 2021. The company noted that all the ODL-related sales are attributed to the growth and adoption of on-demand liquidity.

In terms of network activity, Ripple reported a dramatic rise in the last quarter with more than 130 million transactions on the XRP Ledger. According to the company, the XRP Ledger was built with sustainability in mind.

“Ripple has been a buyer of XRP in the secondary market and expects to continue to undertake purchases in the future at market prices as ODL continues to gain global momentum. Total sales by Ripple, net of purchases, ended the quarter at 43 bps of global XRP volume according to CryptoCompare TopTier (CCTT) volumes,” Ripple said.

“In December, Xange.com announced it will develop a carbon credit solution on the XRPL given its performance, scalability, and inherently green attributes. The XRP Ledger was built with sustainability in mind and is one of the first major carbon-neutral blockchains,” the company added.

Ripple’s Services

In the last 12 months, Ripple’s products and services have witnessed immense demand from financial institutions around the world. Be it cross-border payment infrastructure or CBDC-related solutions, the company has partnered with some of the leading names in the global financial services industry during the past year.

In October 2021, the company introduced RippleNet’s ODL deployment in the Middle East. Furthermore, the blockchain firm joined the Digital Pound Foundation to focus on the development and implementation of a digital Pound in the UK.

Ripple recently published its Q4 of 2021 XRP Markets report and highlighted a significant jump in total XRP sales by the company. For the fourth quarter of 2021, the blockchain firm reported overall sales (net of purchases) of $717.07 million, compared to $491.74 million during Q3 of 2021.

An enormous jump was reported in ODL-related sales as the figure breached $1,039 million, which is substantially higher compared to $491 million in the third quarter of 2021. The company noted that all the ODL-related sales are attributed to the growth and adoption of on-demand liquidity.

In terms of network activity, Ripple reported a dramatic rise in the last quarter with more than 130 million transactions on the XRP Ledger. According to the company, the XRP Ledger was built with sustainability in mind.

“Ripple has been a buyer of XRP in the secondary market and expects to continue to undertake purchases in the future at market prices as ODL continues to gain global momentum. Total sales by Ripple, net of purchases, ended the quarter at 43 bps of global XRP volume according to CryptoCompare TopTier (CCTT) volumes,” Ripple said.

“In December, Xange.com announced it will develop a carbon credit solution on the XRPL given its performance, scalability, and inherently green attributes. The XRP Ledger was built with sustainability in mind and is one of the first major carbon-neutral blockchains,” the company added.

Ripple’s Services

In the last 12 months, Ripple’s products and services have witnessed immense demand from financial institutions around the world. Be it cross-border payment infrastructure or CBDC-related solutions, the company has partnered with some of the leading names in the global financial services industry during the past year.

In October 2021, the company introduced RippleNet’s ODL deployment in the Middle East. Furthermore, the blockchain firm joined the Digital Pound Foundation to focus on the development and implementation of a digital Pound in the UK.

Topics
blockchain
XRP
Ripple
About the Author: Bilal Jafar
Bilal Jafar
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About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
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