San Francisco-based blockchain company Ripple has released its quarterly report, highlighting the recent significant price rally of its token XRP. Ripple believes that the recent buyers of the token were purchasing it for long-term holding rather than short-term speculation, indicating confidence in its long-term potential. The rally was driven by spot volume and was dominated by Binance, Upbit, and Coinbase. XRP's average daily volume reached $3.4 billion on top-tier exchanges, and it recently reached a new all-time high. The token is benefiting from expectations of crypto-friendly policies under the new SEC administration. Ripple also notes growing institutional demand for XRP, with issuers filing for exchange-traded funds based on the cryptocurrency. The quarterly report shows that Ripple currently holds 4.8 billion XRP tokens and has approximately 38 billion tokens locked up in escrow wallets.



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