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Ripple’s XRP Sales Skyrocketed to $491 Million in Q3

Date : 
    2021-11-01

Posted by : Crypstarter Team

Category : Blog, news

Time : 
    13:25:19

Ripple attributes the growth to the success of its On-Demand Liquidity (ODL) service.

According to the company’s Q3 report, Ripple’s XRP sales increased by 211% quarter-over-quarter. It sold $491.74 million worth of XRP in the previous quarter, up from $157.92 million in the previous quarter. The success of Ripple’s On-Demand Liquidity (ODL) service, which uses XRP as a bridge between fiat currencies, is attributed to the growth.

According to Asheesh Birla, RippleNet’s general manager, ODL now accounts for a quarter of the network’s total dollar volume. Transactions made with the service have increased by 130% in the last quarter.

ODL, on the other hand, is gaining little traction in the United States as a result of the Securities and Exchange Commission’s case against Ripple.

Since the fourth quarter of 2019, the company’s programmatic sales have been halted, implying that it is no longer selling XRP to cryptocurrency exchanges.

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