Ripple has underlined the growing demand for On-Demand Liquidity (ODL) in its quarterly XRP Markets Report. The report from the San Francisco-based blockchain company includes Ripple’s existing lawsuit with the SEC and sales-related development of the company. On-Demand Liquidity Raise Sales of Ripple XRP According to the report, the total XRP sales of the company calculated to $150.34 million in the first quarter of 2021. In comparison with the previous quarter data reports, which is $76.27, the rise is approximately 97%. The report also details that, “Total sales by Ripple, net of purchases, ended the quarter at 7 basis points or 0.07% of global XRP volume, according to CryptoCompare TopTier (CCTT) volumes.” “The partnership would help facilitate Ripple’s expansion plans in Asia.” the report adds. According to reports, Ripple acquired 40% of Asia’s leading cross-border payment specialists, Tranglo, to fulfill the growing demand for ODL. In a recent interview Brad Garlinghouse, Ripple Chief Executive Officer mentioned the all-over performance of the company in Asia, stating, “We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets. It has hindered activity in the United States, but it has not really impacted what’s going on for us in the Asia Pacific,” he mentioned in light of Ripple’s ongoing Lawsuit with SEC. Report Features Updates on SEC Lawsuit Concerning the lawsuit, the quarterly XRP market report declares Ripple’s victory in its lawsuit against Tetragon. As there is no official decision finalized concerning XRP’s status. Tetragon’s claim of a “securities default” was invalid. The report permits Ripple’s motion to compel discovery on April 16. On this date, Ripple asked the court to cease the form that drops a line to foreign regulators about them. This requires the Security and Exchange Commission to produce documents regarding digital currencies, Bitcoin, ethereum ETH, and XRP. Finally, the report clears that “The SEC filed a motion to strike Ripple’s Lack of Due Process and Fair Notice defense.” This defense stated that “The SEC had not warned Ripple, nor the broader market that XRP was considered a security.”
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