Endurance – Ripple (XRP) publishes encouraging results of its activities in the second quarter, as if the company was not affected by the bear markets.
Ripple: 50% growth in the second quarter
The second quarter was black for crypto companies, or red for the markets, with a Bitcoin (BTC) which recorded three consecutive bearish monthly lusters. The bears managed to bring down giants like Terra, Capital of the Three Arrowsor even Celsius.
In its second quarter market report, however, Ripple shows a completely different color for the period. The company reportedly sold $408.9 million worth of XRP, up from $273.27 million in the first quarter, or nearly 50% growth.
Ripple CEO Brad Garlinghouse thus has every reason to hold optimistic proposals, translating to the fact that the crypto winter will “pass”, just like the Dot Com winter of the late 1990s, or the bear markets of 2018 for digital assets.
>> Easier to handle than DeFi protocols? Register on PrimeXBT (commercial link). <
Growing adoption of ODL around the world
The snows are not eternal on the markets, but Ripple did not wait for the return of good weather, for enter into 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 settlements, using its Ripple On-Demand Liquidity (ODL) solution.
More recently, the company entered into a partnership agreement with Singaporean fintech company FOMO Pay to use ODL to make cross-border payments in US dollars and euros faster and cheaper.
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 for-profit business $100 million during the period, to projects that aim to develop tools allowing the tokenization of carbon credits on the Ledger XRP. The bearish context has therefore not prevented Ripple from continuing to support initiatives in favor of the environment.
Ripple seems to be accustomed to directing turbulence. XRP, for example, was a victim of the SEC’s complaint against the cryptocurrency, but it did not collapse to zero. Bitcoin and cryptocurrencies have taken the downward path. However, Ripple continues its development through different collaborations, and even opens new premises in North America.
Looking for a more classic exchange? Join PrimeXBT Today the platform for trading cryptos, but also commodities and devices (trade link).