United States – Sine the world is walking closer at the end of 2020, cryptocurrencies worldwide are striving to hit their highest points. One of the most successful digital assets that hit the highest is Ripple, which reached its all-time high of $3.65. With the year drawing to an end, many critics predicted that XRP’s price would go even higher by December 2020. This prediction caused many investors to buy more tokens and trust Ripple.
According to the recent report, the average daily XRP volume has increased by more than 107% in the third quarter. The total XRP revenue for the second quarter is $35.85 million, and it increased by more than 10% this month.
Currently, the average daily XRP volume increased to $403.58 million in Q3 from $196.28 million in Q2, which is great news for the XRP holders and investors. Thanks to Ripple’s new payment solution called the On-Demand Liquidity (ODL), the San Francisco-based firm earned a significant increase in network usage.
Furthermore, Ripple also revealed that the total XRP sales net is now at $35.84 million, which is way higher than last year’s $32.55 million. The company stated that they remain focused on over-the-counter leases and sales to provide sufficient liquidity to certain ODL customers. Since Ripple has now earned 3 billion XRP, they returned the 2.4 billion to the escrow account.
According to Ripple’s executives, they will freeze 55 billion XRP in escrow and release one billion XRP every month. Although this measure received some backlashes, it still resulted in XRP’s excellent performance this 2020.
A report states that Ripple is one of the most productive digital assets that made gains between 5% and 14%. Therefore, some critics are warning Bitcoin to overcome its resistance area near $12,000. Although Bitcoin has doubled its price this year, finding support from the investors is still difficult.
Unlike Bitcoin, XRP has proven its extreme resilience and come to the fore during the pandemic. Ripple’s representatives stated that they would continue to help customers raise capital on demand and soon expand the company’s services to other markets and customers in different countries.
For healthy market growth, Ripple has been repurchasing large quantities of XRP. According to the executives, this strategy helps the company promote adaptation and growth and continuously stimulate the market.
More investors are getting interested in Ripple’s XRP due to its lower fees and faster transaction times for arbitrage trading. According to experts, this digital asset will soon become the fastest and more efficient cryptocurrency than Bitcoin and Ethereum.
Adam is a passionate cryptocurrency writer.
