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Ripple Q1 2023 Report Shows ODL Thrived Despite Banking Crisis

Despite disruptions from the US banking crisis, Ripple's On-Demand Liquidity (ODL) solution exhibited robust growth in Q1 2023, with total ODL sales amounting to $2.93 billion worth of XRP, according to Ripple's recently-released XRP market report. The report revealed a slight dip of 1.1% from the previous quarter but highlighted ODL's resilience considering the impact of the banking crisis on Ripple. Ripple temporarily suspended XRP purchases for a few days due to the crisis but promptly resumed purchase activity thereafter. Ripple saw a 59.5% increase in net sales QoQ, with a net sale of $361.06 million worth of XRP.

(By MARK BRENNAN)

XRP XRP $2.17
-3.39%
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