Ripple (XRP) released its report for the 4th quarter of 2020 and disclosed all the developments and their place in the market in the last quarter. As the owner of XRP, Ripple urges other cryptocurrency firms to take steps in transparency and effective communication.
Drawing attention to the explosion in the derivatives markets and the cryptocurrency market in the fourth quarter of 2020, Ripple is pleased that investors are turning to cryptocurrencies.
However, as a result of a lawsuit filed by the US Securities Commission (SEC), many Ripple owners stopped trading their coins. As a result, Ripple's market value has dropped by $ 15 billion. This does not account for the 50% rally in the rest of the crypto market in the same time frame. The overall market rally was primarily led by BTC, and some market participants noted that US traders selling XRP (post SEC news) contributed significantly to the rally in BTC.
According to the subsequent results, the actions of regulators in the US did not hurt 90% of Ripple's volume. Even though Ripple was dealing with lawsuits, it institutionally signed cooperation agreements with 15 new clients. In addition, On-Demand-Liquidity (ODL) increased its volume by 12 times compared to last year and agreed with financial institutions on cross-border payment infrastructure for its customers. In other words, the SEC case may have negatively affected Ripple's market value, but it cannot be said to be very affected institutionally.
In the last quarter, total XRP sales by Ripple were $ 35.84 million. In the fourth quarter, this figure was 76.27 million dollars. Ripple also purchased $ 35 million worth of XRP from the market in the third quarter, compared to $ 45 million in the third quarter.
What do you think of Ripple's 2020 performance? How do you think Ripple will perform in 2021?
