2020-5-2 23:04 |
Ripple explained the performance of its XRP token so far this year in its Q1 2020 report, talking about the increase in On-demand liquidity (ODL) network volume as well as the reduction in XRP sales, in the most transparent way possible.
Ripple started the report addressing the economic crisis driven by COVID-19, which exploded on March 12, 2020, a day known as Black Thursday — when the S&P fell below 3,000… causing “unprecedented volatility [that] spread across the digital asset markets”— or rather the day Bitcoin “lost over 50% of its market value in a matter of hours”.
“In Q1 2020, total XRP sales were $1.75 million (USD) vs. $13.08 million the previous quarter… Total sales (OTC-only, given programmatic pause) ended the quarter at 0.6 bps of CCTT. This is compared to total sales in the previous quarter (OTC + programmatic) of 8bps of CCTT, representing a 99.3% drop QoQ.”
Ripple argued that although the entire crypto market, including XRP, experienced volatility, the performance of the XRP Ledger (XRPL), such as price and transaction speed, remained stable, making XRP the preferred digital asset for fund transfers.
XRP increases daily volumesAccording to CCTT’s —Crypto Compare Top Tier — XRP increased its daily trading volumes this Q1 by 72.23% over last year’s Q4, reporting figures of $322.66 million for Q1 versus $187.34 million in Q4.
Ripple also reported an increase in the volatility of the daily returns of XRP this Q1 of 6.2%, over the 3.1% it maintained during Q4 2019, much greater than that of its big brother Bitcoin (5.8%), but lower than that of Ethereum, which presented volatility of 7.3%.
RippleNet’s On-Demand Liquidity (ODL) platform tripled the volume of transactions this last quarter “and the dollar value transacted increased by more than 294%.”
Ripple continues its practice of partnering with strategic companies that offer digital money transfer services, such as Azimo. This business move allowed the two companies to use ODL to send money to the Philippines by using XRP, lowering transaction costs, and increasing profits.
“ODL saved the company [Azimo] 30%-50% when arranging currency transfers between customers”
XRP is showing a great performance since Black Thursday, with an increase in its prices during the last 30 days of 23.34%, it currently costs $0.216, which indicates a great recovery.
origin »Ripple (XRP) на Currencies.ru
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