July 25, 2024
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XRP Sale Increases Significantly In Q2 2020 Report

XRP (Courtesy: nairametrics.com)
XRP (Courtesy: nairametrics.com)
XRP (Courtesy: nairametrics.com)

After a surge in XRP, its sales have increased 19-fold in Q2 report for 2020. The increase in sale comes after XRP had recorded a downfall in the first quarter reports.

The report on XRP said that sales of the firm’s XRP token were 18.6 times higher in Q2 2020 compared to Q1. The crypto firm Ripple said that their sales hit $32.55 million from April to June this year, which records a higher growth by $1.75 million in the first quarter.

The firm mentioned that the increasing growth of the firm is relevant to it prioritizing over-the-counter (OTC) sales over programmatic ones. This comes as a part of effort for the company to provide increased XRP liquidity to RippleNet’s On-Demand Liquidity (ODL) customers. 

In between 2019 to 2020, RippleNet had registered a year-over-year growth 11 times in ODL transaction volume.

Ripple, however, has been facing some legal issues. It has been in the middle of a lawsuit that has alleged it to misled investors with bullish claims about XRP and sold the token as an unregistered security.