Ripple’s official reports
The world’s top 3rd cryptocurrency Ripple witnessed its sale from the XRP token to double in the last quarter of 2018 as compared to the previous quarter. The tech startup which connects banks across the borders in order to offer a cross-border payment system released its report on the 25th of October, Thursday.
The report of the third quarter of 2018 showed that it sold over $163.3 million worth of XRP. Clearly, not only did the sales double from the previous quarter but brought an additional revenue of about 87.3 million US dollars. A majority of the sales came from institutional direct sales.
Ripple’s subsidiary triples its sales
The other big chunk of sales came from the subsidiary of Ripple. The subsidiary XRP II sold roughly a little over 98 million US dollars which is over 80 million US dollars over the previous quarter (16.87 million dollars). The increase in the programmatic sales increases from $56.6 million to $65.2 million which is not much compared to the XRP II’s increase.
Although there has been some significant quarter to quarter increases, the cryptocurrency with a market cap of over 18 billion US dollars still hasn’t matched the sales of $167.7 million of the first quarter. Although the cryptocurrency market has been more bearish than ever in 2018 XRP has been flourishing at least when talking about the sales.
Talking about the previous year; 2017 where we saw the highly bullish crypto madness, Ripple sold almost $20 million from direct XRP and a little over $32 million from programmatic sales in the final quarter of the year. It is important to note that the final quarter of 2017 was the same time when the crypto-market was at its peak and was more bullish than ever.
The cryptocurrency company said that the best quarter for XRP was Q2 or the second quarter. Mainly because of the tremendous customer growth. The report also stated that “the 400 million XRP token being used in a variety of ways to help support the XRP ecosystem.” Ripple releases roughly 3 billion XRP tokens from its locked escrow account in the previous quarter. While 2.6 billion XRP tokens were put into new escrow accounts.
During September of 2018 Ripple announced that it plans on leading a startup which is linked to cryptocurrencies and is called the “Securing America’s Internet of Value Coalition.”
XRP (XRP) Price Today – XRP / USD
Price 24H (%) -1.48%
Although XRP currently sells for a little over 0.45 cents the all-time high of it was almost $4 during the December of 2017 and early 2018. XRP has a lot of potential, and while nothing can be assured in the crypto world if the market comes out of the bearish cycle, then we can expect an increase in XRP’s price.