Ripple released its third quarter 2020 XRP Markets report showing a 108% spike in XRP volume compared to the second quarter of 2020.
According to the report, the average daily volume (ADV) went from $ 196.28 million in the second quarter to $ 403.58 million in the third quarter. Total XRP volume jumped to $ 37.13 billion in the third quarter from $ 17.86 billion in the second quarter.
The latest quarterly report also states that total XRP sales, net of purchases, increased to $ 35.84 million in the third quarter, up from $ 32.55 million in the prior quarter. Additionally, the company mentioned its focus on over-the-counter (OTC) sales and leasing to increase XRP liquidity.
According to the company, it is building new liquidity on demand (ODL) capabilities to obtain XRP liquidity from the open market and not just Ripple. The company bought XRP for $ 45.55 million in the third quarter of 2020.
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Speaking of the latest escrow developments, Ripple said: “In the third quarter of 2020, three billion XRPs were released by escrow (one billion per month). In total, 2.4 billion XRPs were returned in the quarter and subsequently entered into new escrow agreements. All data is reported on the basis of transactions carried out during the quarter “.
Arbitrage trading
Ripple presents XRP as an important tool for capturing time-limited arbitrage opportunities in the market. According to the company, XRP’s low transaction costs, high speed, and reliability are ideal for capturing price differences between exchanges. “Using XRP as a bridging currency between trading venues allows traders to substantially reduce the time it takes to do so and, more importantly, their exposure to volatility compared to other digital assets, such as BTC and ETH. There is a clear difference between the transaction cost of an asset transfer greater than $ 10,000 equivalent in BTC, ETH and XRP originating from Binance to Coinbase, “the company explained.
Earlier this year, Ripple faced a lawsuit in Australia over allegations of trademark infringement of the “PayID” trademark.
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