Ripple's XRP sales increased nearly 100% in Q1 2021 despite SEC lawsuit

Ripple has reported a nearly 100% increase in XRP sales for the first quarter of 2021 despite its ongoing legal battle with the U.S. Securities Exchange Commission (SEC).

Ripple's XRP sales went up to $150 million in Q1 2021 compared to $76 million in Q4 2020, an increase of 97%. Ripple said its On-Demand Liquidity (ODL) service contributed to the jump. ODL helps Ripple clients to settle cross-border payments via XRP without pre-funding.

Ripple said it saw "deeper engagement from key ODL customers" in the first quarter. For over a year, Ripple has not sold XRP programmatically, i.e., to cryptocurrency exchanges.


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The surge in XRP sales comes despite Ripple's ongoing legal fight with the SEC. Last December, the agency sued Ripple and two of its executives — CEO Brad Garlinghouse and Chairman Chris Larsen — alleging that they illegally raised over $1.3 billion selling XRP, an unregistered security.

Ripple is defending itself and says the lawsuit has caused "havoc" for U.S. XRP holders, developers, and small businesses that use and rely on XRP and the XRP Ledger.


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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.