Mr. Huber’s recent tweet set the do dedo finance community abuzz. His revelation highlighted Ripple’s impressive net sales for December, reaching nearly 238 million units or $142 million. This figure stands out as it’s more than three times the company’s usual monthly sales.
This data sparked speculation and discussions about Ripple’s next steps in the market. Are you wondering about it too? Read on!
December’s Performance: A Closer Look
Ripple’s recent report showcased its standout performance in December. The company reported net sales of XRP at close to 238 million units. In monetary terms, this amounts to $142 million, a figure notably higher than the cryptocurrency’s average monthly sales. Mr. Huber also hinted that this surge might precede significant buying activity by Ripple.
However, he cautioned that Ripple typically avoids net buybacks for extended periods, usually not more than 8-10 weeks.
Currently, XRP is experiencing a 1.2% decrease, trading at $0.589. Over the last 24 hours, there has been a notable surge in trading volume, soaring by 104%, contributing to an overall market cap of $30.3 billion.
Ripple’s Sales Strategy
Ripple’s recent disclosure highlighted its strategy to sell XRP mainly for on-demand liquidity (ODL) transactions. The report emphasized ODL’s steady growth, naming it the standout product for the last quarter and the year as a whole.
Introduced in 2018, ODL allows Ripple’s customers to transfer funds globally in seconds, bypassing the delays and fees typical of traditional remittance methods. Using XRP in ODL transactions distinguishes it within the crypto industry.
What’s Next for Ripple?
The crypto community is keenly watching Ripple’s next moves. With December’s strong sales and the increasing interest in Ripple’s strategies, the industry anticipates Ripple’s future actions with heightened interest.