Ripple Sold $336 mn Worth of XRP Tokens in Q1, Reports Strong XRPL Growth
Ripple sold more than $361 million in XRP tokens in the first three months of the year, up from $226.31 million in the previous quarter, according to the company’s latest XRP Markets Report.
The company creates global payment products and has created the decentralised XRP payment system. While Ripple and XRP are separate entities, Ripple’s products are powered by XRP and XRP’s public blockchain.
The revenues were related to Ripple’s on-demand liquidity product, which enables clients to transfer money around the world without the requirement for correspondent banking ties.
On-chain activity on the XRP Ledger remained high, with decentralised exchange volume growing 34% from the fourth quarter to $115 million.
(With inputs from Shikha Singh)
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