Ripple publishes quarterly reports to increase transparency, reliability, and consistency within its investors. This report shows Ripple’s interpretation of the current crypto market, XRP sales, and announcements important to investors and traders.
The company first described the rapid growth of the cryptocurrency markets worldwide. Cryptocurrencies increased their total market capitalization to $3 trillion from $2 trillion in one month.
However, this rapid growth made derivative markets significantly higher too. This rapid growth forced prices to correct, with various digital assets ending the reporting period at a lower price than they started.
Ripple also released a comprehensive policy framework, portraying a progressive way to adapt to the various capabilities of cryptocurrencies and other digital assets.
US SEC Commissioner Hester Peirce showed her disappointment in the lack of representation for cryptocurrencies, occasionally delaying or denying Bitcoin’s proposals. Ripple also stated the possibility of industry officials filing a lawsuit against the SEC.
Ripple also reported a net income of $717.07 million, a significant increase from the net profit in the previous quarter. Ripple continues to create new partnerships with different organizations to better the ODL experience for users.
Furthermore, Ripple also experienced a significant increase in activity in their XRP Ledger, transacting over $113 B, equivalent to 114 billion XRP.
Xange.com will also collaborate with XRPL in creating a carbon credit solution, given that this ledger is one of the first major carbon-neutral blockchains.