Ripple Releases Its Q4 2022 ODL XRP Sales Report, Surpasses Q3. Check Out.

https://cryptolifedigital.com/wp-content/uploads/2023/01/Ripple-Releases-Its-Q4-2022-ODL-XRP-Sales-Report-Surpasses-Q3..jpg

The report of Ripple’s On-Demand Liquidity (ODL) XRP sales report revealed that the total XRP sale is about $226.31M.

“The report was revealed by the leading blockchain company; The Q4 2022 XRP Markets Report is now live–detailing ebbs and flows in the broader crypto market to a ramp up in regulatory actions, as well as significant XRPL technical developments including XLS-20 going life on Mainnet, and the EVM sidechain on Devnet.”

Read Also: A Newly Launched Token, Cremation Coin, Burns Over 16 Million LUNC At A Stand

Ripple’s ODL Sales Increases

It is worth noting that the total sales of XRP in the last quarter of 2022 are greater than the third quarter by nearly $100 million, at about $2.964 billion. However, the company recorded lower sales net of purchases during the quarter due to increased Ripple buybacks. Per the report, it bought back about $2.737 billion worth of XRP compared to about $2.508 billion in Q3. Consequently, net sales declined by about $100 million in Q4.

The recent report shows that the customers sent 60% of all transactions processed by Ripple in 2022 through ODL and the Ripple chief, Brad Garlinghouse attested to it.

Read Also: Terra Classic Burns Over 5 Million Over The Weekend, LUNC DAO And Luna Station 88 Hold The Biggest Share.

At the moment, the report shows that the product now serves almost 40 payout markets which represent almost 90% of the foreign exchange markets. It is a significant bump from just three markets two years prior.

However, Ripple’s net XRP sales represented only 0.35% of the global XRP volume in Q4, per data from CryptoCompare TopTier volumes. Meanwhile, in keeping with the extended crypto winter, XRP volumes plummeted with the token’s price within the period. Per the report, it is estimated that volumes dropped 40% in Q4 as the XRP price dropped 30%. Consequently, Average Daily Values Traded (ADVs)  were about $689 million, representing a 13% quarter-on-quarter (QOQ) decline and a 64% year-on-year (YOY) decline.

As stated in the report, the outstanding XRP leases by Ripple in Q4 totalled about 57.7 million XRP. Notably, Ripple routinely leases some XRP intended for sale to market makers and other market participants.


Follow us on Twitter, FacebookTelegram, and Google News

  • 1445 Posts
  • 2 Comments
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you're a seasoned investor or just starting out, Cryptolifedigital's analysis offers valuable insights into the world of cryptocurrency.
Loading...