Continuing the legal battle with the US Securities and Exchange Commission (SEC) Ripple (XRP) announced the first quarter report of 2023.
The sixth largest cryptocurrency Ripple reported significant gains in the first quarter of 2023 and XRP stated that he had made the sale.
“The total XRP sales excluding acquisitions by Ripple in the first quarter of 2023 was $361.06 million. XRP sales were $226.31 million in the previous quarter.
XRP Average Daily Volume (ADV) on centralized exchanges increased from $698 million to $1 billion in Q1.”
Evaluating the effects of the events in the first quarter of 2023 on the crypto money market, Ripple stated that despite the banking crisis, cryptocurrencies, including XRP, remained resistant.
Ripple report that also touches on global crypto regulations “EU, UK and UAE proposed new regulatory regimes for crypto focusing on licensing and activity-based frameworks.” said.
Brad Garlinghouse, CEO of Ripple evaluated the first quarter report in his post on his Twitter account.
Comparing the USA with other countries, Ripple CEO said:
“The US may be going backwards, but I want to focus on the positive.
In the last few months, the EU, UK and UAE have moved forward with new regulatory frameworks and regimes for crypto activities.”
The US may be moving backwards, but I like to focus on the positive – in the last few months the EU, UK and UAE all moved forward with new regulatory frameworks and regimes for crypto activities.
Read on in our markets report for more: https://t.co/iC7dzo80aC
— Brad Garlinghouse (@bgarlinghouse) April 27, 2023
*Not investment advice.
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