Ripple’s XRP Monthly Sales Surge by Threefold, Prompting Doubts and Concerns within the Community
Ripple’s XRP Sales Surge by 3-Fold, Raising Speculation on Future Actions
Mr. Huber’s recent tweet has shed light on Ripple’s net sales in December, which amounted to nearly 238 million XRP, equivalent to $142 million. What makes this particularly noteworthy is that it surpasses the company’s average monthly sales by more than three times. As a result, speculation has emerged and discussions have been prompted regarding Ripple’s potential future actions in the market.
In a recent disclosure, Ripple has provided a comprehensive report that details the distribution of XRP since December 4, 2023. This report draws attention to Ripple’s impressive performance in December, where the company’s net sales of XRP skyrocketed to nearly 238 million. This figure is three times greater than the average monthly sales for the cryptocurrency. Moreover, Mr. Huber suggests that this surge in sales could indicate an upcoming significant buying spree by Ripple.
However, Mr. Huber also expresses a level of concern, emphasizing that historically, there have never been more than 8-10 weeks without a single net buyback by Ripple. This raises questions about Ripple’s future strategies and potential market moves.
Currently, XRP is experiencing a slight 1.2% decrease, trading at $0.589. However, over the past 24 hours, there has been a notable surge in trading volume, increasing by 104%. This surge in volume contributes to an overall market capitalization of $30.3 billion.
Ripple’s strategic moves have been outlined in a recent report, where the company discloses that it continues to sell XRP exclusively in connection with on-demand liquidity (ODL) transactions. The report highlights the sustained growth of ODL, labeling it as the “strongest” product throughout the last quarter and an impressive year. ODL has played a crucial role since its launch in 2018, allowing Ripple customers to transfer money globally instantly, bypassing the delays and high fees associated with traditional remittance methods. The use of XRP in ODL transactions sets Ripple apart in the crypto space.
Given this context, the substantial increase in December sales has captured the attention of the crypto community, with enthusiasts and analysts closely monitoring Ripple’s next moves.
Tags: Ripple (XRP)