The company has maintained that the only time it would offer XRP is in conjunction with its international transaction product.
In the first three months of the year, blockchain company Ripple sold more than $361 million worth of XRP tokens, up from $226.31 million in the previous quarter, according to its most recent XRP Markets Report.
The firm manufactures worldwide payment solutions and has created the XRP payment system, which it refers to as a decentralized financial network. Ripple and XRP are distinct entities, but Ripple utilizes XRP and the public blockchain of XRP to fuel its products.
The sales were related to Ripple’s on-demand liquidity product, which enables consumers to transfer funds internationally without the need for correspondent banking relationships.
XRP Ledger on-chain activity remained robust, with decentralized exchange volume increasing by 34% year-over-year to $115 million in the first quarter.
Ripple stated that it has procured XRP from the open market in order to guarantee a substantial supply for its expanding on-demand liquidity business. Ripple’s net sales for the quarter amounted to 0.44 percent of the global XRP volume.
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