After many innocent XRP unlockings, Ripple continues to surprise the community by first buying $ 46 million worth of XRP in Q3 2020, despite owning nearly half of the XRP supply. Accordingly, this buying decision is made to support a healthier market, generate interest around XRP, and increase XPR price.
The 1st time Ripple bought $46 million worth of XRP in the third quarter of 2020, creating interest around XRP
Accordingly, the company is likely to continue to buy XRP to support its newly launched product – Line of Credit beta – allowing On-Demand Liquidity (ODL) customers to buy XRP with credit from Ripple. ODL solution utilizes XRP to transfer money.
The spokesperson said:
“Long-term, Ripple is building new ODL capabilities to dynamically source XRP liquidity from the open market, not just Ripple.”
Ripple’s 3rd quarter sales are also related to its ODL solution:
“ODL-related sales include XRP sales to support ODL (including Line of Credit) and key infrastructure.”
The company sold $ 35.84 million worth of XRP to ODL customers in Q3, compared with $ 32.55 million XRP to live institutions in Q2. No programmed sales, i.e., is XRP sales to cryptocurrency exchanges, in Q3.
In other news, as AZCoin News reported, the Blockchain company also opened a new regional headquarters at the Dubai International Financial Center, which has its own independent judiciary and legal framework.
- Ripple Has Published Its Q3 Of 2020 XRP Markets Report Showing A Spike Of 108% In XRP Volume
- Ripple Has Chosen The Dubai International Financial Centre As Its New Regional Headquarters
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