Ripple’s Q2 2020 Report Shows XRP Token Sales Increased 19-Fold

Ripple’s Q2 2020 report shows that the XRP token sales have increased by 19 times and the coin surged in the same quarter as we are reading more in the XRP price news today.

The XRP markets report shows that RippleNet’s On-demand liquidity network hit an 11x growth compared to the previous year while Ripple’s Q2 2020 report shows that eh sales surged in the second quarter. Sales of Ripple’s XRP token in the second quarter after hitting a new low in the first quarter, the on-demand liquidity network also remained popular.

According to Ripple’s quarterly report, the sales of the company’s XRP token were set at 18.6 times higher in the second quarter compared to the first one. The crypto company outlined that XRP sales were $32.55 million from April to June this year which is an increase of $1.75 million in the first quarter. The company was criticized for propping up the balance sheet with the XRP sales.

Ripple also said that the sales were due to the company prioritizing over-the-counter sales over programmatic ones and this is mainly a part of the effort to provide increased XRP liquidity to RippleNet’s on Demand Liquidity customers. RippleNET had 11 times year over year growth in ODL transaction volume from 2019 to 2020. The reports show that the XRP price rallied by 40% in the past week and more than 8.5% in the past 24 hours. Many believe that the token could even surge to $0.30 if BTC is standing at $11,346 remaining stable.

The Q2 2020 XRP Markets Report provides an in-depth analysis of the current #crypto markets, highlights a continued pause in programmatic #XRP sales and explores the latest crypto market moves. https://t.co/IYK8agJgCY

— Ripple (@Ripple) August 3, 2020

The price has attracted more investors and at least 30 new XRP Whales that now hold between $240,000 and $2.4 million bringing the number of accounts to more than one million of the tokens to 3.7%. Ripple is now in the middle of a long-running class-action lawsuit alleging that the company misled investors with some bullish claims about XRP and then sold the token as an unregistered security. The reports also show that the legal team representing the company along with the CEO Brad Garlinghouse argued most of the statements they made overstating the utility of the token which cannot be proven false.

Recently, Ripple’s XRP became the third biggest cryptocurrency again as the whales started buying it like crazy.