Report: The fall of XRP in line with other crypts “underlines the independence of Ripple’s XRP”

As per the recent second quarter 2018 reports for its cryptocurrency XPR published by Ripple2018, the report, sales of Ripple XRP tokens were a “drop in the glass” compared to the total XRP market.

According to the report, Ripple sold $ 75.53 million in the second quarter in total. Of this amount, the company sold $ 56.66 million through programmatic sales, which amounted to 0.125 percent of the $ 45.350 million in Ripple sales throughout the second quarter.

While Direct sales equaled 16.87 million, made with XPR, the subsidiary of Ripple II, LLC, a registered and licensed money service business (MSB).

The reports also highlight the low volatility of XPR in the second half of 2018, channeling a 9 % drop in prices in line with the drop of Bitcoin by 8.2 percent.

XRP (XRP) Price Today – XRP / USD
Name Price24H (%)

What do the reports say

Also, the report covered the custody activity, stating that 3 billion of XRP were released from custody contracts in the second quarter, while 2 billion of XRP were placed on new custody contracts.

The previous year 2017, Ripple placed 55 billion XPR currency in an encrypted custody account, which indicates that the could only access the remaining 13 percent of the total outstanding XPR now. Ripple said that the 300 million XRP left in custody had been used to support the XRP ecosystem.

The report also mentions some new entrants to the XRP ecosystem in the second quarter, including the Coil micro-payments application, and the SB Projects content monetization platform.  The company also noted how both the new entrants are supported by Ripple’s Xpring initiative only, which is solely responsible for partnerships and mergers with companies and projects ” run by proven entrepreneurs’ as well as new endeavors.

The report stated how the fall in the price of the XPR token was in sync with the general trend that the crypto market had been following lately, relating to the fall in the overall market capitalization of all the cryptocurrencies. Falling from  $ 603.7 billion in January 2018 to $ 254.7 billion in the mid of the year. Regarding the general market in the second quarter, Ripple emphasized the independence of Ripple’s own XRP. The report notes that Ripple had its best quarter in the second quarter in terms of signed clients:

Ripple effect

“It is also important to note that although Ripple had the best quarter of its history in the second quarter (in terms of signed customers), the price of XRP continued to fall with those of other digital assets, underlining the independence of Ripple’s XRP. “

XRP, the third largest cryptocurrency by market capitalization so far, reached its historic high of $ 3.81 at the beginning of 2018. At the time of this edition, the token is trading at $ 0.46, falling almost 10 percent during the last week, according to Cointelegraph’s XRP price index.
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