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Disciplined, Responsible Stakeholders: Continued Pause in XRP Programmatic Sales
In Q2 2020, total XRP sales were $32.55 million (USD) vs. $1.75 million the previous quarter. Ripple continued the pause of programmatic sales, focusing solely on its over-the-counter (OTC) sales as part of providing increased XRP liquidity to RippleNet’s On-Demand Liquidity (ODL) customers. This added liquidity is vital as ODL continues to evolve and expand into new corridors.
A healthy, orderly XRP market is required to minimize cost and risk for customers, and Ripple plays a responsible role in the liquidity process. As more financial institutions leverage RippleNet’s ODL service, more liquidity is added into the XRP market. That said, Ripple has been a buyer in the secondary market and may continue to undertake purchases in the future at market prices.1
Total sales (OTC-only, given programmatic pause) ended the quarter at 18 bps of CryptoCompare TopTier volumes. This is compared to total sales in the previous quarter (OTC-only, given programmatic pause) of 0.60 bps of CryptoCompare TopTier.
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