Ripple’s Q4 XRP Market Report
Ripple, the centralized fintech company, recently released its Q4 XRP Markets Report. The report revealed that Ripple sold $226 million worth of XRP tokens, net of purchases, during the fourth quarter of 2020. Ripple developed the XRP payment system, which is described as decentralized, and uses XRP and XRP‘s public blockchain to power its various products. This report provides an in–depth look at Ripple‘s XRP markets and the company‘s performance in the fourth quarter. With this report, Ripple is providing transparency into its XRP markets and its use of XRP tokens.
Ripple Reports Record Transactions on XRP Ledger
Ripple, the payments processor, has reported record transactions on the XRP Ledger, the decentralized blockchain. In the last quarter, the company saw over 106 million transactions and the creation of 228,000 new and unique user wallets. Ripple has continued to sell XRP only in connection with on–demand liquidity (ODL) transactions, which saw continued growth in the last quarter. RippleNet, the company‘s crypto–powered payment solution, is now available in nearly 40 payout markets, up from just three markets in 2020. This is a testament to the growing demand from both new and existing customers adopting ODL. Ripple‘s strong performance in the last quarter is a sign of the company‘s commitment to crypto utility and scaling its ODL product.
Ripple’s ODL and XRP Spot Markets
Ripple’s On-Demand Liquidity (ODL) platform was launched in 2018 to help customers move money instantly around the world without the need for correspondent banking. This is made possible by using XRP, which is faster and more cost–effective than traditional remittance methods. Despite a general downtrend in XRP spot markets, Ripple believes that investment activity will soon return to tools that facilitate payments, trading, and custody. Ripple believes that the industry will remain fragmented, but will focus on improving core crypto primitives such as payments, custodial services, DEXs, and cross-chain user experiences.
