Ripples XRP sales are going high. The growth is around 97% in Q1. Moreover, Ripple sold twice as much XRP in the last quarter since the demand grows for its ODL service. Ripple posted its Q1 markets report and revealed about total sales net of purchases.
According to the report, the sales have gone from $76.27 million in Q4 2020 to $50.34 million in Q1 this year. According to Ripple, the surge in sales was led by growing demand for its working capital service On-demand liquidity, or ODL.
This XRP increase can also be attributed to a deeper engagement from the key ODL customers. Programmatically Ripple has not sold for over a year. However, the firm added that it continued to engage in sales to support ODL.
Additionally, it also supports Infrastructure partners as a part of providing increased XRP liquidity. Thus, it helps to improve the ODL experience of specific customers and eliminates the need for pre-funding. Finally, it helps to enable instant Global payments.
According to CryptoCompare, the total sales by Ripple accounted for just 0.07% of the Global XRP volume. Ripple says that ODL enables RippleNet clients to source instant liquidity in the XRP. This can be converted into International currencies within 3 seconds and helps to remove the need to hold a pre-funded account for international payments.