$400 million in XRP – Ripple pulverizes crypto sales

EnduranceRipple (XRP) publishes encouraging results of its activities in the second quarter, as if the company was not affected by bear markets.

Ripple: 50% growth in the second quarter

The second quarter was black for crypto companies, or red for the markets, with a Bitcoin (BTC) which recorded three consecutive bearish monthly candlesticks. The bears managed to bring down giants like Terra, Three Arrows Capitalor even Celsius.

In its second quarter market report, however, Ripple shows a completely different color for the period. The company reportedly sold $408.9 million worth of XRP, up from $273.27 million in the first quarter, or almost 50% growth.

Ripple CEO Brad Garlinghouse thus has every reason to be optimistic, emphasizing that the crypto winter will “pass”, much like the Dot Com winter of the late 1990s, or the bear markets of 2018 for digital assets.

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Growing adoption of ODL around the world

The snows are not eternal on the markets, but Ripple did not wait for the return of good weather, for enter into strategic partnerships and move forward on the path of development.

The company entered into a partnership with the Lithuanian company FINCI last May. The collaboration enables consumer remittances and business-to-business settlements, using its Ripple On-Demand Liquidity (ODL) solution.

More recently, the company entered into a partnership agreement with Singaporean fintech company FOMO Pay, which will use ODL to execute cross-border payments in US dollars and euros faster and at lower costs.

Continuity in environmental commitments

The second quarter would therefore be green for Ripple, and not just in terms of financial performance or strategic partnerships that contribute to its economic growth.

The company has devoted $100 million during the period, to projects that aim to develop tools allowing the tokenization of carbon credits on the Ledger XRP. The bearish context has therefore not prevented Ripple from continuing to support initiatives in favor of the environment.

Ripple seems to be accustomed to directing turbulence. XRP was, for example, a victim of the SEC complaint against the cryptocurrency, but it did not collapse to zero. Bitcoin and cryptocurrencies have taken the downward path. However, Ripple continues its development through different collaborations, and even opens new premises in North America.

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