[ad_1]
Ripple first conducted a repurchase of XRP tokens in the third quarter of 2020. The repurchase was estimated at $ 46 million. It was carried out despite the fact that the company owns almost half of the total XRP offering.
In an interview with The Block, a Ripple spokesperson revealed that the company is planning an additional XRP buyback to support a recently launched lending product called Line of Credit, which allows ODL customers to buy XRP on credit from Ripple. a solution that uses XRP for money transfers. Overall, Ripple said the acquisition was in place to support a “healthy market”. Perhaps this is how the company spurs interest in XRP and tries to influence the price of the cryptocurrency.
In the third quarter, Ripple sold XRP to ODL customers for $ 35.84 million. In the second quarter, the company sold XRP to institutional investors for $ 32.55 million. In the third quarter, there were no XRP sales on cryptocurrency exchanges.
Image courtesy of Crypto News Flash
Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found an error? Select the text and press CTRL + ENTER
Read something else important
