Ripple sold tens of millions of dollars worth of XRP in the fourth quarter of 2020 as the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against allegations of unregistered securities offers.
XRP sales doubled in the last quarter of the year
In the latest cryptocurrency market report released on Friday, the San Francisco-based startup announced that it sold $ 76.27 million worth of net XRP in Q4 2020. This number means more than double the net sales of XRP worth $ 35.84 sold in the third quarter.
“According to CryptoCompare TopTier (CCTT) volumes, Ripple’s total sales closed the quarter at 5bp, or 0.05% of global XRP volume. This is compared to CCTT’s total sales of 10bp in the previous quarter. ”
Ripple says it is focusing on over-the-counter (OTC) sales and rentals to provide more liquidity to ODL customers. The company also uses it to programmatically sell XRP, but has suspended sales on crypto exchanges for over a year.
Most of the volumes are intact
Ripple claims that the SEC’s complaint had a devastating effect on the XRP market, resulting in a loss of at least $ 15 billion in token value in the open market. Still, the firm says about 90% of XRP volumes are still solid.
“Many market participants have made progress in XRP-related businesses outside the US. This underscores the fact that the US is taking steps with its international counterparts. “