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Ripple XRP Volume Increased by Over 10% This 2020

Jamie West by Jamie West
November 7, 2020
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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.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: 2020Bitcoincryptocurrencydigital assetEthereumon-demand liquidityRippleRipple XRP
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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