Ripple’s XRP token sales rose in the second quarter after bottoming out in the first quarter, while the company’s liquidity-on-demand network remains popular.
Consistent with Ripples’ quarterly report released on August 3 The company’s XRP token sales in the second quarter of 2020 were 18.6 times higher than in the first quarter. The crypto company stated that sales of The XRP for April to June this year was $ 32.55 million. approximately $ 1.75 million per enzyme in the first quarter. The company came under fire because it consolidated its profit with XRP sales.
Ripple said sales were due to the company prioritizing free (OTC) sales over planned sales. This is said to be part of the effort Provision of increased XRP liquidity for RippleNet on-demand liquidity customers (ODL). RippleNet has grown eleven times in a year in the volume of ODL transactions from mid-2019 to 2020.
XRP price rose 40%
Cointelegraph reported today that the price of the XRP token has increased by 40% in the past seven days and almost 8.5% in the last 24 hours. Many predict that The token could even reach $ 0.30 if Bitcoin (BTC), which is currently at $ 11,346, remains stable.
The price increase attracted investors. At least 30 new XRP whales now have between $ 240,000 and $ 2.4 million, increasing the number of accounts with more than a million tokens to 3.7%.
Legal issues continue
Ripple is currently in the middle of a long-standing class action lawsuit alleging that the company misled investors with bullish claims about XRP and sold the token as an unregistered security. Cointelegraph recently reported that the legal team representing the firm and the CEO Brad Garlinghouse argued that any statement they made to exaggerate the usefulness of the XRP token cannot be proven wrong.