Get the scoop on finance - sign up for mobile alerts
Ripple and XRP
| On
April 30, 2020

Ripple’s XRP Sales Dropped by 86% in Q1 2020

By Daily Hodl Staff
[the_ad id="93550"]

Ripple is outlining its quarterly sales of the crypto asset XRP.

In Q1 2020, the San Francisco payments company sold $1.75 million worth of XRP, down 86% from $13.08 million in the previous quarter.

ADVERTISEMENT

The $1.75 million in XRP was sold directly to institutions, and Ripple sold zero XRP on crypto exchanges, which it typically does programmatically.

“Ripple continued the pause of programmatic sales, focusing solely on its over-the-counter (OTC) sales to build XRP utility and liquidity in strategic regions including EMEA and Asia.”

Ripple has dramatically slowed its cryptocurrency sales since Q3 of 2019, when it sold $251.51 million in XRP.

The company, which owns more than half of the total supply of the third-largest cryptocurrency by market cap, says it sells portions of its holdings to fund its operations and invest in startups.

ADVERTISEMENT

In December, Ripple raised $200 million in a Series C funding round led by Tetragon that valued the company at $10 billion.

&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.