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Ripple Sold $336M Worth of XRP Tokens in Q1; Reports Strong XRPL Growth

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Blockchain company Ripple has reported selling over $361 million worth of XRP tokens in Q1 of 2021. This is an increase from the previous quarter's sales of $226.31 million. The sales were related to Ripple's on-demand liquidity product, which allows customers to move money globally without the need for correspondent banking relationships. Ripple has also reported strong on-chain activity, with decentralized exchange volumes increasing 34% from the previous quarter. The company has sourced XRP from the open market to ensure sufficient supply is available for its growing ODL business.

(By Shaurya Malwa)

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