$ 400 Million in XRP – Ripple Pulverizes Cryptocurrency Sales

ResistenceRipple (XRP) publishes encouraging second quarter business results, as if the company is unaffected by bear markets.

Ripple: 50% growth in the second quarter

The second quarter was black for cryptocurrency companies, or red for markets, with a Bitcoin (BTC) which recorded three consecutive bearish monthly candles. Bears have managed to take down giants like Earth, Three capital arrowsor even Celsius.

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

Ripple CEO Brad Garlinghouse therefore has every reason to be optimistic, pointing out that the winter of cryptocurrencies will “pass,” just 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 snowfalls are not eternal on the markets, but Ripple hasn’t waited for the return of good weather, for forge 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 deals, using its Ripple On-Demand Liquidity (ODL) solution.

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

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

Ripple appears to be used to directing turbulence. XRP was, for example, a victim of the SEC’s complaint against the cryptocurrency, but it didn’t collapse to zero. Bitcoin and cryptocurrencies have gone downhill. However, Ripple continues its development through various collaborations and also opens new offices in North America.

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