XRP enjoyed a pretty strong last quarter despite the SEC putting up legal troubles, according to the report put up by Ripple. As Ripple states, the firm did end up enjoying an increase of 400% with it trading multiple volumes. They also gained profit from its ODL service, which definitely attracted a large number of customers.
Ripple XRP Boosts Volume, Adds New Clients
The report published by Ripple, a company dealing in blockchain payments mentioned quite a few findings- despite the legal battles that the company is undergoing. The cryptocurrency also stated that the number of clients using the ODL service has gone beyond their expectations. On-Demand Liquidity is the cross border payment service that Ripple provides- and which uses XRP. The company implied that multiple client transactions taking place amidst the legal issues indicate that the firm’s ODL product is worth being fought for. Most critics have supported this statement, as they believe that the ODL has actually helped financial companies in their payments.
The net sales of ODL for Ripple have significantly doubled from the Q3- where it racked up revenue of $76.27 million- from a Q2 revenue of $35.84 million.
Asia-Pacific Keeps XRP Afloat
According to data from Cryptocompare, Ripple has maintained that the volume of XRP has simply quadrupled from its previous value. The estimate states that the Q4 total volume has been $148.15 billion. The cryptocurrency company stated that the Flare Spark snapshot was probably the reason behind this massive increase.
Yet, the company didn’t forget to state that the sales of XRP did get affected by the enforcement option of the SEC. The enforcement action which the SEC took against Ripple did away with most of the Ripple trading.
