In its latest report, Ripple revealed XRP’s record sales for the first quarter rose 97%.
XRP’s record sales have increased from the fourth quarter of 2020 at a total of $ 76.27 million to $ 150.34 million in the first quarter of 2021.
Ripple is aware that this increase in currency purchases is driven by the growth in demand for the services offered by RippleNet, On-Demand Liquidity (ODL).
CryptoCompare data shows the total sales made by Ripple have accounted for 0.07% of the global XRP total.
At the same time, a total of 3 billion XRPs were released from escrow holdings and 2.7 billion XRPs were returned into new escrow contracts.
The recent XRP price spike was also linked to the purchase of a 40% stake in cross-border payments firm, Tranglo aiming to expand its ODL services.
In fact, the number of wallets owning one million to 10 million XRPs has increased by 6.3% from 1,125 in the fourth quarter to 1,196 in the first quarter.
XRP prices have risen 648% over the past 12 months despite pressure from a Securities Exchange Commission (SEC) lawsuit. At the time of writing, XRP is trading at $ 1.56, down nearly 6% in 24 hours.
