Ripple’s Remarkable December: XRP Sales Surge to an Astounding $142 Million
Ripple’s XRP Sales Triple in December
A recent tweet by Mr. Huber has brought to light Ripple’s net sales in December, which reached nearly 238 million XRP, equivalent to $142 million. What makes this noteworthy is that it exceeds the company’s average monthly sales by more than three times. This has sparked speculation and discussions about Ripple’s potential future actions in the market.
In a recent disclosure, Ripple has provided a detailed report on the distribution of XRP since December 4, 2023. The report highlights Ripple’s impressive performance in December, with net sales of XRP reaching nearly 238 million.
This surge in sales, amounting to $142 million for the month, is three times higher than the average monthly sales of the cryptocurrency. Mr. Huber suggests that this increase in sales could indicate an upcoming significant buying spree by Ripple.
However, Mr. Huber also expresses some concern, noting that historically, there have never been more than 8-10 weeks without a single net buyback by Ripple.
At present, XRP is experiencing a 1.2% decrease and is trading at $0.589. In the past 24 hours, there has been a significant surge in trading volume, rising by 104%, contributing to an overall market cap of $30.3 billion.
In another report, Ripple has disclosed that it continues to sell XRP exclusively in connection with on-demand liquidity (ODL) transactions. The report emphasizes the sustained growth of ODL, describing it as the “strongest” product throughout the last quarter and an impressive year.
Since its launch in 2018, ODL has played a crucial role in enabling Ripple customers to move money globally instantly, bypassing the delays and high fees associated with traditional remittance methods. The use of XRP in ODL transactions sets it apart in the crypto space.
Against this backdrop, the significant increase in December sales has caught the attention of the crypto community, with enthusiasts and analysts closely monitoring Ripple’s next moves.