- Notable increase in sales during December, 238 million XRP changed hands, equivalent to $142 million.
- The disclosure triggered analysis and debate, generating interest in Ripple’s future strategies in the digital financial market.
A recent release has highlighted the substantial increase in Ripple’s net sales during December. According to the disclosed data, approximately 238 million units of XRP have changed hands, representing a value of $142 million. This achievement exceeds the company’s average monthly sales by more than three times.
This data has generated analysis and discussions about Ripple’s future strategies in the market.
Deepening Ripple’s Sales Strategy
The recent report from Ripple sheds light on the company’s sales tactics, with a primary emphasis on promoting XRP for on-demand liquidity (ODL) transactions. The focus of the report is on the consistent expansion of ODL, labeling it as the standout product for both the last quarter and the entire year.
Launched in 2018, ODL facilitates rapid global fund transfers for Ripple clients, circumventing the usual delays and fees associated with traditional remittance channels. The utilization of XRP in ODL transactions sets Ripple apart uniquely within the cryptocurrency landscape.
Detailed Performance Analysis in December
Ripple’s most recent report presents an outstanding performance this past December. Net sales of XRP reached approximately 238 million units, translating to $142 million.
These numbers notably surpass the cryptocurrency’s average monthly sales. This increase could anticipate significant buying activity by Ripple. Ripple tends to avoid net buybacks for extended periods, generally not exceeding 8-10 weeks.
During the time of writing this article, XRP records a slight decrease of 1.2%, trading at $0.566. In the last 24 hours, a remarkable increase in trading volume has been observed, reaching an impressive 104%, contributing to a total market capitalization of $30.3 billion.
XRP Sales Transparency, Market Challenges, and ODL Expansion
Ripple’s quarterly report provides transparency on XRP sales, updates, and commentary on the cryptocurrency market. It highlights the launch of On Demand Liquidity (ODL) in France, Sweden, and Africa, available in nearly 40 payment markets.
Activity on the XRPL blockchain remained robust, with 106.4 million transactions and 8.7 million trustlines. The crypto market faced challenges in Q4 2022 due to the fall of FTX and sector consolidation.
ODL adoption continues to grow, with Ripple processing close to $30B and 20M transactions in 2022. Despite a decline in XRP sales, Ripple continues to support ODL and expects to maintain a disciplined approach to its operations.
What’s the Next Step for Ripple?
The crypto community is in a state of anticipation, watching Ripple’s next moves closely. Given the strong sales performance during December and the growing interest in the company’s strategies, the industry awaits Ripple’s next actions with great anticipation.
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