Quarterly XRP Markets Report is a regular report published by Ripple that details the company views around the XRP market. The report often includes quarterly sales updates, relevant XRP-related announcements, and commentary on previous quarter market developments. The latest published report is for Q3 2020 and covers some important updates and details about the market.
The latest report from Ripple focuses on multiple aspects of the market and activities. Some parts are about new services and features, while others explain company views about XRP as a whole. Ripple talks about the reason for publishing quarterly updates:
“As an XRP holder, Ripple believes proactive communication and transparency are part of being a responsible stakeholder. Moreover, Ripple urges others in the industry to follow its lead to build trust, foster open communication, and raise the bar, industry-wide.”
Line of Credit was one of the essential services that Ripple launched in the last quarter. It provides the option of buying XRP with credit from Ripple. The latest report claims that customers have been pleased about this service. Line of Credit will be improved to offer more innovative solutions to Ripple customers.
Ripple focuses on sales and purchases in a significant section of the Q3 2020 report. According to the company:
“Last quarter, total XRP sales, net of purchases, were $35.84 million (USD) vs. $32.55 million the previous quarter. Ripple focused solely on its over-the-counter (OTC) sales and leases as part of providing increased XRP liquidity to certain RippleNet ODL customers to improve their ODL experience, eliminating the need for pre-funding and enabling instant global payments. Similar to recent quarters, Ripple did not sell programmatically.”
A section of the Ripple Q3 2020 report is about the XRP Ledger Foundation that supports the development and adoption of XRP Ledger. Ripple partnered with companies like Coil and Gatehup to provide the initial donation to this non-profit foundation.
Sustainability has been one of the most critical areas of focus for Ripple in the last quarter. They have partnered with Energy Web Foundation and XRPL Foundation to lead the way toward carbon-neutral blockchains. XRP Ledger will be among the first blockchains to move toward that goal.
Ripple published a market commentary in the last part of the recent report. The company focuses on three topics in this report: cryptocurrencies to avoid inflation, increased institutional adoption in the crypto industry, and the rise of DeFi products in the last months.
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