In the second quarter, Ripple sold XRP for $409 million
Ripple has published a report on the markets for the second quarter, which indicates a significant increase in XRP sales and the use of On-Demand Liquidity (ODL) service
According to the report, ODL volume grew by 800% year-on-year thanks to a variety of partnerships that helped increase demand. One of the most successful examples of cooperation is working with the Lithuanian money transfer provider FINCI, whose goal is to provide instant and cost-effective retail money transfers.
Ripple also increased XRP sales by about 50%. In the second quarter, it sold an asset worth about $408.9 million (in the previous quarter it was $273.27 million). Meanwhile, the company reported that compared to the previous quarter, trading volumes decreased by 22% to an average daily figure of $862 million (previously it was $1.1 billion). It is noted that the exchange rate indicators of XRP were influenced by macroeconomic signals and specific events.
The Tom DeMark (TD) Sequential indicator gives a sell signal. Bearish formation implies a short-term pullback to $0.37, after which XRP will be able to gain liquidity and create a growth impulse to $0.45.
Given the surge in XRP sales, the $0.37 support level is crucial in the event of a decline. If XRP fails to stay above this critical demand zone, the sale will lower the rate to $0.34.
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