Ripple is disclosing that it elevated its XRP gross sales within the fourth quarter of 2021 with demand for RippleNet surging regardless of the lack of a significant companion.
Ripple notes in a brand new weblog submit that it bought greater than $1 billion value of XRP final quarter in relation to its cross-border funds platform, On-Demand Liquidity (ODL), which is powered by the crypto asset.
The San Francisco-based firm additionally bought near $322 million value of XRP, bringing web gross sales to $717 million, a greater than 45% enhance from the $491.74 million XRP it bought in Q3 of 2021.
Ripple attributes the XRP gross sales to the “progress and adoption of ODL.”
“Ripple continued to interact in gross sales to enhance the ODL expertise of sure prospects, eliminating the necessity for pre-funding at exchanges and enabling prompt world funds.”
The corporate additionally notes that RippleNet, its institutional payment-providers community, had its “most profitable and profitable 12 months thus far.”
“The variety of transactions on RippleNet greater than doubled, with a cost quantity run price of over $10 [billion]. This can be a testomony to the product contemplating Ripple parted methods with MoneyGram, its largest buyer, instantly after the SEC filed its lawsuit in opposition to Ripple.”
The U.S. Securities and Trade Fee (SEC) filed a lawsuit in December 2020 alleging that Ripple bought XRP as a safety throughout its launch. The regulator additionally alleges that the token stays a safety to at the present time.
Learn Ripple’s full weblog submit here.
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