1 Billion XRP worth $1.6 Billion Released From Ripple Escrow Wallet in Two Successive Transactions
AI Trading

Ripple, the cross-border payment company has recently published the quarterly XRP Markets Report, in its quest to provide transparency and regular updates regarding the view of the company on the state of the XRP Market.

This report also includes quarterly programmatic and institutional updates, coupled with XRP-related announcements, such as Xpring and RippleNet partnerships.

RippleNet’s On-Demand Liquidity (ODL)

According to the report, customers are getting to know the value of XRP through the significant cost-savings by eliminating the need to pre-fund international accounts.

The report says, from Q4 2019 to Q1 2020, RippleNet’s On-Demand Liquidity (ODL) service tripled in transaction volume, and the USD value transacted increased by over 294%.

AI Trading

The report speaks about the partnership between Ripple and Azimo:

“Of note, Ripple and Azimo, a UK-based digital money transfer service, announced their partnership to use the digital asset XRP in cross-border payments. Azimo launched its service to send payments to the Philippines and, within a few months, ODL saved the company 30%-50% when arranging currency transfers between customers in the Philippines and those in the UK and Europe.”

Regarding the Integrations and liquidity of XRP, the report describes XRP liquidity as the “lifeblood” of Ripple’s On-Demand liquidity for cross-border payments, adding that Q1 saw the integration of XRP into a number of additional exchanges and liquidity instruments.

As for the open-source community of developers, Xpring, the report says that it continues to build products and supports innovation on the XRPL through improvement to the technology.

About Xpring development, the report says:

“Last quarter, Xpring launched new tools, services, and documentation for developers including XRP Ledger Mainnet support in the Xpring SDK and support for Interledger Protocol (ILP) STREAM on Testnet in the xpring.io wallet.”

Moreover, the report mentioned that Xpring partner Anchorage made an announcement for the support of XRP, which enabled its growing roster of enterprise customers to safely store XRP for various use cases. Also, the famous wallet BRD announced support for XRP in Q1.

AI Trading

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.