In December, Ripple’s sales of XRP increased by three times compared to the average monthly sales for the cryptocurrency. This increase was significant, with net sales reaching nearly 238 million XRP, worth $142 million, prompting speculation about Ripple’s future actions in the market.
Ripple Sell of XRP Increase By 3X
According to a recent disclosure by Ripple, the company’s net sales of XRP in December surged to almost 238 million, three times greater than the average monthly sales. This surge in sales could signal an upcoming significant buying spree by Ripple. However, there is concern about the lack of historical net buybacks by Ripple, with only 8-10 weeks without a single buyback.
Currently, XRP is trading at $0.589, with a notable surge in trading volume, contributing to an overall market cap of $30.3 billion.
Ripple’s Strategic Moves
In a recent report, Ripple disclosed that it continues to sell XRP exclusively in connection with on-demand liquidity (ODL) transactions. ODL has been instrumental in allowing Ripple customers to move money globally instantly, using XRP in the transactions, setting it apart in the crypto space.
The substantial increase in December sales has captured the attention of the crypto community, with enthusiasts and analysts closely monitoring Ripple’s next moves.
Hot Take
Ripple’s significant increase in XRP sales in December has raised both speculation and concern about the company’s future actions in the market. This surge in sales, three times greater than the average monthly sales, has sparked interest and prompted discussions about Ripple’s strategic moves and potential impact on the crypto market.
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