CoinTrust

Ripple: XRP Volume Rose Over 107% in Q3

Ripple’s third quarter report released on November 6 indicates that the average daily XRP volume has risen by over 100% to $403.58 million in the third-quarter, from $196.28 million in the earlier quarter. This reflects a considerable rise in platform utilization and an increasing adoption of the On-Demand Liquidity (ODL) payment solution.

The total XRP sales generated $35.84 million, up 10% from $32.55 million. Ripple has stated that the company is concentrating solely on OTC (over-the-counter) sales for offering adequate liquidity to some of the ODL clients. The table below offers a preview of the transactions.

Additionally, Ripple has let out 3 billion XRP in the market during the third-quarter, but 2.40 billion XRP has returned back to the escrow account. Back in 2017, Ripple had promised to keep 55 billion XRP in an escrow account and let out one billion XRP for sale very month.

In the past, this step has drawn criticism many times from the XRP community and is regarded as a prime reason for the unimpressive performance of XRP in terms of price. Nevertheless, many representatives of Ripple, Brad Garlinghouse for example, has emphasized that Ripple will not be able to impact the valuation of XRP.

In recent times, Ripple launched Line of Credit, an innovative facility that allows RippleNet clients to raise capital as and when necessary. Using the service, without any delays Clients can raise capital speedily in the form of XRP. Currently, the facility is in beta stage and is only open to chosen ODL clients.

The response to the facility has been uniformly positive, as per the initial comments from clients. Therefore, Ripple intends to extend the facility to other markets soon. Clients, via the Line of Credit facility, will be able to allot their capital for managing everyday business and also reach out to new clients and markets. In case of certain large dealings, XRP is offered straightaway by Ripple, provided the partner exchanges do not possess adequate liquidity.


Ripple has bought back significant amounts of XRP, as the chart above reveals, for sustainable demand growth and owing to the launch of new products. Ripple notes that the market was supported by these steps and encouraged expansion and adoption. According to Ripple, this approach is to be pursued for the moment.

The quick processing times and reduced costs guaranteed by XRP render it as perfect base currency for arbitrage transaction. Therefore, XRP can be transferred from one exchange to another without any difficulties and capitalize on small price disparities. The graph below demonstrates the speed of XRP transactions and the lead it has over Bitcoin and Ethereum.

Exit mobile version