Ripple Sees Surge in Demand for XRP in Q1 2021

The blockchain company Ripple has posted its XRP Markets Report for the first quarter of 2021, showing surge in demand for XRP.

According to the official announcement, the total XRP sales of Ripple stood at $150.34 million in Q1 2021, which is a jump of 97 percent compared to Q4 2020. Additionally, from January to March, global XRP volume also soared. 

Ripple has accelerated its global expansion in recent months. In late March, Ripple hired Brooks Entwistle as its Managing Director of Southeast Asia to lead and scale the company's operations in the region. Additonally, the company acquired 40% of Tranglo, a leading cross-border payment firm in Asia. In April, Ripple teamed up with Novatti​ to enter the Philippines market.

Ripple stated in the official announcement: "The first quarter of 2021 was an exceptionally strong period for crypto. Total crypto market capitalization ballooned from ~$800B to almost $2T in the span of three months, and institutional adoption was once again a key driver of this gain. Morgan Stanley and Goldman Sachs individually announced plans to include BTC as part of their wealth management offerings, while BlackRock began trading BTC futures. "