This is the first time Ripple has bought back XRP

10.11.2020
Ripple reported the first buyout of XRP coins: in the third quarter of 2020, Ripple bought back XRP for $46 million, in addition to the coins already stored on the company’s wallets.

In report for III quarter 2020 Ripple writes that the decision to buy XRP was taken to «maintain a healthy market. It is most likely to attract interest in the cryptovite and increase its market value. It’s quite possible that the buyback of XRP will continue;

«In the long term, we will develop new functions in our ODL solution to allow customers to get liquidity from the entire market, not just from Ripple stocks,» said the company’s representative;

But the report also contains other operations: in the third quarter of 2020, Ripple sold XRP for $35.84 million to institutional investors;

Recall that Ripple is now considering options to move its headquarters from the U.S. due to regulatory uncertainty. The most probable jurisdictions were named United Kingdom
and Japan.

Ripple’s technical director David Schwartz recently stated that financial institutions now have little incentive to adopt XRP, but that this will gradually change;