NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Ripple Buys $46 Million XRP This Quarter to Offset Oversupply Worries

Samuel Wan
Samuel Wan
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ripple’s latest Q3 2020 report shows the firm made On-Demand Liquidity (ODL) sales of $81 million this quarter. By contrast, the previous quarter had ODL sales of $33 million.

In addition, the Average Daily Volume (ADV) also showed a marked increase. This quarter’s ADV is up 106% to $404 million dollars, leading to a total XRP volume in Q3 2020 of $37 billion.

Ripple report summary

Source: ripple.com

The solid quarterly performance is met with a new activity in “total purchases”, which came to $46 million this quarter. It refers to Ripple acting as a buyer of XRP in the secondary market.

Ripple’s “Line of Credit” Boosts ODL Sales

Last quarter saw Ripple launch a new beta service called “Line of Credit”. Essentially, this allows ODL customers to buy XRP on credit directly from Ripple.

The thinking behind “Line of Credit” is to expand XRP use for the purposes of cross border payments.

“With Line of Credit, customers can purchase XRP from Ripple on credit which provides capital upfront to help accelerate their business performance and scale. Line of Credit has been piloted by ODL customers and the initial feedback is overwhelmingly positive. Companies can use the capital to further invest in their business to enter new markets and reach new customers.”

The ODL payment service, previously called xRapid, uses XRP as a bridge between two fiat currencies. It is advantageous over legacy payment methods in that ODL customers can hold money in their preferred currency. As such, transfers no longer require fully funded accounts in all of the currencies dealt with.

By adding credit to the mix, ODL customers have more flexibility over capital allocation.

Based on the 150% increase in ODL sales, the “Line of Credit” beta service is a hit with ODL customers.

Ripple Buying XRP to Offset Concerns of Oversupply

XRP dumping, also known as programmatic sales, was the topic of much frustration within the XRP community. Following a sustained bout of community pressure, this practice ceased in Q4 2019.

The change.org petition, led by @Crypto_Bitlord achieved its goal, of stopping Ripple from dumping XRP, even without reaching the 5,000 signature count.

“Ripple continue dumping billions of XRP on us, crashing the price! Its amazing this sort of behaviour is widely accepted in the crypto world. Sure we know that XRP is a solid coin with major potential but this needs to stop!”

Many in the community saw a direct correlation between Ripple “dumping” its monthly escrow released XRP and the stagnant XRP price. The oversupply of XRP on exchanges was thought to be a contributing factor to poor price performance throughout that period.

With the “Line of Credit” beta service, a similar concern, to do with oversupply, raises its head. However, this quarter has seen Ripple actively intervening in the secondary market, by buying XRP at market prices, to reduce supply.

Q3 2020 shows Ripple purchased 46 million dollars worth of XRP to “support healthy markets”. Although Q3 2020 report mentions this is to offset “Line of Credit” oversupply, it’s also possible that Ripple is buying XRP to counter the legacy effects of “XRP dumping”.

It’s been almost a year since Ripple stopped dumping its native token, but the price of XRP continues to stagnate relative to the performance of key rivals.

Having said that, the past seven days has seen a 10% increase to $0.2580.

Ripple XRP daily chart

Source: XRPUSDT on TradingView.com
Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP Large

Ripple Exec Reveals What Will Drive The XRP Price Value

Ripple Labs Chief Technology Officer, David Schwartz, has offered rare and pointed clarity on what drives the XRP price value...

Sandra White 2 days ago
Ripple

SEC Delays Appeal Withdrawal In Ripple Lawsuit, Pro-XRP Lawyer Says Expect To Hear Something In This Timeframe

The Ripple vs. SEC lawsuit appears to be nearing its final stages, but the path is not yet clear. Although...

Scott Matherson 2 days ago
XRP utility debat gaat viral - Ripple CTO onthult waarom XRP koers kan verdubbelen

XRP utility debat gaat viral – Ripple CTO onthult waarom XRP koers kan verdubbelen

Recentelijk is er een XRP Utility debat viraal gegaan tussen de Ripple CTO en Andrei Jikh. Wat is de invloed...

Lars Diederiksen 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

Market Cap Not A Hindrance To XRP Price Reaching $1,000, Expert Explains Why

Scott Matherson 1 day ago
XRP

XRP Is Set To Move Trillions — Banking CEO Drops Bombshell On Ripple’s Role In Tokenizing Finance

Godspower Owie 1 day ago
XRP

Analyst Predicts Historical 90% XRP Crash Against Bitcoin, But This Will Happen First

Scott Matherson 2 days ago

Premium Sponsors

Press Releases

  • Use Quid Miner cloud mining mobile app: easily earn passive...

    1 day ago
  • Najlepšia Kryptomena na Investíciu v Auguste 2025 – HYPER, MAXI, T6900, SNORT, SUBBD, BEST, ETH

    Najlepšia Kryptomena na Investíciu v Auguste 2025 –...

    2 days ago
  • A must-read for miners in 2025! ETHRANSACTION is disrupting...

    2 days ago
  • XRP vs. ETH vs. BTC: Ktorá kryptomena vedie tento týždeň na trhu?

    XRP vs. ETH vs. BTC: Ktorá kryptomena vedie tento...

    2 days ago
  • Nejlepší kryptoměny k investování v srpnu 2025 –...

    2 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.