Ripple Earnings: XRP’s Q1 2021 Results Preview
Ripple, the mastermind behind the XRP cryptocurrency, just revealed its first quarter’s XRP Markets Report. According to this report, the demand for XRP is soaring.
The company managed to make $150.34 million worth of sales during this first quarter of 2021. Compared to the fourth quarter of 2020, this is an increase of a whopping 97%.
Based on the official statement that the firm released, XRP sales volume skyrocketed all across the globe in Q1 of 2021. This growing volume of XRP sales helps to explain the main function played by on-demand liquidity (ODL) customers.
In this past quarter, the organization made several moves to partner up with different companies globally.
One of these moves is the acquisition of a 40% equity in Tranglo. Tranglo is a well-known cross-border payment platform based in Asia.
Speaking in an interview with Reuters, Brad Garlinghouse, Ripple’s CEO, stated that the firm has gained massive popularity throughout Asia. In fact, Asia has seen the highest increase in activities relating to XRP liquidity.
Another trend the company noticed was a rise in whale addresses. It revealed that there was an increase of 71 wallets, which hold 1M to 10M XRP. Of the 1,196 wallets that hold between 1M and 10M, at least 319 of these hold 10M or more.
Since the beginning of 2021, crypto whales have sparked the movement of this cryptocurrency in considerable amounts.
Whale Alert, which is a crypto analytics company, reported that just one whale account transferred 6 million coins from Kraken to a crypto wallet that remains unknown to this date.
At the point of writing this, the world’s fifth biggest digital currency is selling for close to $1.57.