Ripple continues to sell XRP inventory – according to the company, for the second quarter of 2020, $32.5 million worth of coins were sold from the repository to institutional investors.
If previously XRP was sold through cryptocurrency exchanges and OTC sites, then the company has been selling exclusively through OTC sites for the past three quarters. In the first quarter of 2020, Ripple sold coins worth $1.75 million, and for all the time XRP was sold for more than $1.2 billion.
The company also shared XRP trading statistics. In the II quarter, a noticeable decrease in trading volumes was recorded – on average, transactions with XRP were made per day by $196.28 million, while in the I quarter this figure was $322.6 million. The total trading volume for the quarter decreased from $29.6 billion to $17.8 billion.
“The more companies connect to the RippleNet solution, the more liquidity becomes available in the XRP market. Therefore, Ripple buys XRP in the secondary market, and may continue this practice in the future, “the company said in a press release.
The purchase of coins at market prices should provide a “healthy and liquid XRP market,” as well as reduce risks when trading this cryptocurrency for customers. Recall that, as reported in early July, Ripple and Banco Santander will expand cooperation as part of the development of the One Pay FX platform.