Ripple’s XRP sales have recorded a 46% quarter-quarter increase
Ripple has just released the Q4 2021 XRP Markets Report that aims to provide transparency and regular updates on the company’s stance on the state of the crypto market. Such as quarterly XRP sales, XRP-related announcements, and commentary on the previous quarter’s market movements. This time, Ripple’s XRP sales ballooned to $717 million in Q4.
In our Q4 Markets report, we dive into the latest on XRP Ledger and infra updates, global regulation, RippleNet’s momentum, interoperability and more. Read for the latest on #crypto markets: https://t.co/vx6xBg8ulw
— Ripple (@Ripple) January 28, 2022
Ripple’s XRP sales surged 46% in the fourth quarter
Let’s not talk about sales. Let’s talk about regulations. Ripple released a policy framework designed to offer an immediate and pragmatic way forward that accounts for the dynamic capabilities of cryptocurrency and digital assets.
“Globally, Australian lawmakers proposed significant reform of digital asset regulations, citing core principles from Ripple’s policy framework. The Treasury accepted these recommendations, and consultations on the regulatory changes are expected in 2022. India and Thailand also intend to consult the industry on regulatory frameworks for digital assets in 2022. South Africa and Nigeria touted the need for regulation as crypto adoption increases, while the Bank of England looked to tighten its oversight of crypto. The Dubai government announced that the Dubai World Trade Centre would become a comprehensive free zone and regulator for digital assets and crypto”, Ripple stated.
December 22 marked the one-year “anniversary” of the lawsuit. This comes amid the ongoing legal battle between Ripple and the SEC. Notably, the Wall Street Journal published a Letter to the Editor from Ripple CEO Brad Garlinghouse in response to former SEC Chairman Jay Clayton touting the promise of crypto technologies and the need for additional U.S. regulation, stating Clayton’s change of heart was staggeringly ironic.
The expert discovery deadline has been extended to February 28 due to COVID and personal matters. On January 13, the court ordered the SEC to surrender several documents to Ripple, including emails about and drafts of former SEC Corporation Finance Director Hinman’s June 2018 speech in which he stated ETH is not a security, as well as notes taken by SEC attorneys during meetings with third parties in the digital asset space.
Elsewhere, Ripple continued to engage in sales to improve the On-Demand Liquidity (ODL) experience of certain customers, and this number surpassed $1 billion in the fourth quarter. Last quarter, total XRP sales by Ripple, net of purchases, were $717.07M vs. $491.74M the previous quarter. This underlines the evolution of the company’s payment solution.
Source: Q4 2021 XRP Markets Report
XRP volumes peaked on November 10th, as the crypto market cap hit new all-time highs. Overall volumes declined by 12%. In Q4 2021, three billion XRP were released out of escrow (one billion each month) in line with prior quarters and the official escrow arrangement. In total, 2.4 billion XRP were returned and subsequently put into new escrow contracts throughout the quarter.
Reportedly, the company hasn’t made any programmatic sales since Q4 2019, meaning it didn’t sell any XRP tokens to exchanges in Q4.
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