The 'extraordinary' development of XRP is discussed in Ripple's Q3 report, 2021.

XRP investors should consider the SEC versus Ripple Labs litigation in the United States, as well as the blockchain company's actions in other countries, before making investment decisions. After the crypto market meltdown in May 2021, Ripple's 2021 Q3 market report revealed various insights on XRP's worldwide performance.

Team Ripple, be water, was eager to announce the “unprecedented” rise of its on-demand liquidity [ODL], which let clients to lessen their reliance on pre-funded accounts.

According to the study,

"Since last year, RippleNet transaction volume (measured in dollars) has more than quadrupled, while ODL transactions have increased by 130 percent quarter over quarter." In the third quarter, ODL transactions accounted for around a quarter of overall volume. The growth and use of ODL are responsible for all XRP sales this quarter."

In terms of XRP sales, Ripple reported $491.74 million in net acquisitions in the third quarter. In the second quarter, this figure was $157.92 million.

However, what does the future hold for the XRP ecosystem? RippleX is working towards introducing federated sidechains to the XRP Ledger Mainnet [v1.8], according to the article. According to reports, an announcement will be made in November.

Ripple, the world traveler

Ripple has been emphasizing the relevance of cross-border ODL in recent months. The San Francisco-based blockchain firm established collaborations with the Middle East's Pyypl fintech firm and the UAE's Al Ansari foreign exchange.

Apart from that, Ripple collaborates with public stakeholders and recently launched a CBDC pilot with the Royal Monetary Authority of Bhutan.

The research added, "When it comes to XRP's on-chain insights,"

"On the XRP Ledger, there were a total of 88.8 million transactions last quarter, totaling $69.3 billion in volume and 74.5 billion XRP traded."

Despite this, the study stated that XRP's volume measure was "weaker than typical" in the third quarter. XRP's average daily volume is said to have dropped by more than half in Q3. Team Ripple, on the other hand, maintained that this was the case for most digital assets at the time.

Letters from the family

The SEC versus Ripple Labs case will go on next year, since the court has extended the discovery deadline to January 14, 2022. The SEC previously commented on "strong" XRP sales. Ripple, on the other hand, retaliated, stating that their cryptocurrency was falling behind Bitcoin and Ether. XRP was trading at $1.11 at the time of publication.

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