SAN FRANCISCO, California – RippleNet’s ODL or On-Demand Liquidity experiences 11 times of growth, as per the XRP Markets Report. The sales for XRP surge in the second quarter, having $32.55 million. Aside from that, Ripple bulls’ price rallies to $0.325, yet it couldn’t continue because of the $0.241-price drop recently.
According to the XPR Markets Report, it shows that the ODL of RippleNet faced a growth that’s 11 times larger than last year. As for the XRP sales, it increased in quarter-two. The boost was after it hit a low price in the 2020’s first quarter. As it grows, the ODL network of the firm stays popular.
As per the quarterly report of Ripple, which they released on August 3, the sales of the XRP token of Ripple recorded 18.6 times bigger than the sales report in 2020’s first quarter. The digital asset company noted that XRP sales reach $32.55 million, and the duration was from April to June 2020. In the first quarter, it earned $1.75 million. However, many complained about the company to sustain the balance sheet with XRP trades.
Ripple stated that sales grew after the company prioritized OTC sales instead of programmatic ones. It’s part of the company’s effort to deliver boosted XRP liquidity to the ODL customers. RippleNet’s ODL grew 11 times more from last year to 2020.
Cointelegraph conveyed that the price of XRP rallied in the previous seven days, which is at 40%, while in the last 24 hours, it’s nearly 8.5%. Several experts predict that XRP might even increase to $0.30 if Bitcoin (BTC) stays stable at $11,346.
The price increase attracted depositors, and about 30 new whales for XRP has $240,000 to $2.4 million in their accounts.
As the XRP sales increases, the price continued to rally $0.325, yet it couldn’t endure the uptrend since it faced a drop to $0.241 recently.
The price improved upward, over $0.28 high, and in the following day, purchasers continued driving the price up. XRP received, yet the price is at $0.32. The upward movement stalled at the high-price level of $0.32 in the previous 24 hours.
Purchasers still struggle to push the price of XRP over the recent high since the price dropped after retesting twice at the resistance level. The market will increase, depending on the present indicators. Also, Ripple is probable to grow to $0.335, if it breaks the resistance level.
XRP will endure moving up as the price stops over the resistance level of the increasing channel. This digital asset is trading over the 80% range, yet the bands are leaning southward. It indicates a strong momentum, yet the price movement displays strong signals.
The price of XRP is dropping under the $0.32-resistance level while purchasers try to drive it over the previous high. After retesting at a price level of $0.32, a red candle body tested the Fibonacci retracement level, which is at 0.618. It specifies that the market will hit the Fib extension level, which is at 1.618. Plus, Ripple will increase to $0.335 in few days.
Adam is a passionate cryptocurrency writer.
