Ripple is continuing its sale policy which started in the last quarter of the year 2019 and reports its sales ratio quarter by quarter. According to the latest quarterly report shared by Ripple, the over-the-counter sales of its native digital token XRP has surged high in the second quarter of the year 2020. The report says that XRP’s over-the-counter (OTC) sales have spiked to $32.5 million in the second quarter. Apart from this, Ripple’s On-Demand Liquidity Network has also witnessed immense growth in 2020 according to the XRP Markets Report.
XRP token sales in Q2 are higher than Q1
Reportedly, the over-the-counter sales of Ripple’s XRP digital currency have recorded more growth in the second quarter as compared to the first quarter of 2020. Within the duration of April to June, XRP’s token sales reached $32.5 million in Q2 which is 18.6 times more than that of sales recorded in the first quarter of the present year. In Q1, XRP hit a low of $2 million in Over-the-Counter sales.
Ripple said in the report that the company is making efforts to facilitate RippleNet’s On-Demand Liquidity (ODL) service by adding more liquidity into it as most of the financial institutions and customers leverage this service of RippleNet.
The company explained in the report:
“As more financial institutions leverage RippleNet’s ODL service, more liquidity is added into the XRP market. That said, Ripple has been a buyer in the secondary market and may continue to undertake purchases in the future at market prices.”
XRP is performing fairly well
Ripple’s token sale policy is meant to affect its native cryptocurrency XRP which is currently holding the third spot on CoinMarketCap. For the last seven days, the price value of XRP has recorded more than 40% gains due to which the coin is now holding the $0.30 figure. XRP is still up 3.40% in 24 hours.
XRP’s bullish price action has caught the attention of investors who have shown a great deal of interest in the third-ranked digital currency recently.
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