Ripple Releases Q3 Report, XRP Volume Jumps 108%

Ripple has published its Q3 of 2020 Report showing a spike of 108% in XRP volume as compared to the second quarter of 2020.
According to the report, the average daily volume (ADV) jumped from $196.28 million in Q2 to $403.58 million in Q3. The total XRP volume jumped to $37.13 billion in Q3 as compared to $17.86 billion in the second quarter.
The latest quarterly report also states that the total XRP sales, net of purchases, increased to $35.84 million in the third quarter, compared to $32.55 million in the previous quarter. Additionally, the company mentioned its focus on over-the-counter (OTC) sales and leases to increase XRP liquidity.
According to the company, it is building new on-demand liquidity (ODL) capabilities to source XRP liquidity from the open market and not just the Ripple. The company purchased $45.55 million worth of XRP in Q3 of 2020.
While talking about the latest escrow developments, Ripple stated: “In Q3 2020, three billion XRPs were released out of escrow (one billion each month). In total across the quarter, 2.4 billion XRPs were returned and subsequently put into new escrow contracts. All figures are reported based on transactions executed during the quarter.”
Arbitrage Trading
Ripple presents XRP as an important tool to capture the time-limited arbitrage opportunities in the market. According to the company, low transaction costs, high speed, and reliability of XRP are ideal to capture price differences between . “Using XRP as a bridge currency across trading venues allows traders to substantially reduce the time needed to do so, and more importantly the related volatility exposure when compared to other digital assets, such as BTC and ETH. There is a clear difference between the transaction cost of an asset transfer over $10,000 equivalent in BTC, ETH, and XRP originating from Binance to Coinbase”, the company explained.
Earlier this year, Ripple faced a  in Australia over the allegations of trademark infringement of the ‘PayID’ brand.