While it is no secret that the crypto market has not been kind to nearly all of the top 20 digital coins since peaking in January, it is also true that each project can take away some positive developments for the short-and-long-term future in a time in which investors and members of the community need to reinforce their faith in blockchain-based tokens.
That is the case of Ripple. On Thursday, October 25th, it was announced via the Q3-2018-XRP-Markets Report that the distributed ledger tech startup experienced an increase in sales in comparison with that of the Q2, essentially doubling the number of the second quarter of the year.
Judging by the Numbers
According to the numbers made public by Ripple, $163.33 million XRP were sold on the Q3, an increase over the $75.53 million of the Q2. As a matter of fact, the majority of the growth can be attributed to institutional direct sales: Ripple subsidiary XRP II sold $98.06 million whereas it only sold $16.87 on Q2.
The growth in programmatic sales quarter-over-quarter was modest, though: XRP went from selling $56.66 million to $65.27 million in the third quarter of 2018. One thing needs to be said: despite the Q3 selling prowess, it did not match the numbers of the first period, in which $167.7 million XRP were sold.
Despite the dip in performance experienced in the second period of 2018, Ripple is still showing excellent numbers in the year-to-year comparison: the cryptocurrency sold $19.6 million in XRP in direct and $32.6 million in programmatic sales in 2017’s Q3, at a moment in which the crypto market was peaking.
No Mention of New Customers
A noteworthy development is the fact that it does not display any information about the amount or new customers’ percentage. Ripple, despite experiencing a bad second quarter, did say at the time that the period was its best regarding customer growth. However, there was no such reference in the latest study.
Ripple also explained that it released 3 billion XRP out of escrow accounts in the Q3, with 2.6 billion of that amount being placed in new escrow accounts. The rest of the XRP, 400 million, are currently helping “support the XRP environment,” according to the latest quarterly study, with no further details.
Ripple’s value fell during the majority of the third quarter, and the report made no secret about that. However, it was noted that XRP experienced a growth spurt during the end of last month.
Behavior of XRP in the Last 24 Hours
XRP, Ripple’s associated cryptocurrency, is currently trading at $0,459514 by the time of this writing, which represents a modest 0,09% fall in the last 24 hours. One XRP is priced at 0,00007097 BTC.
The market capitalization of the coin is $18.475.001.708, with a trading volume of $286.246.869 in the last day. 40.205.513.967 XRP are circulating out there in the market. Since peaking at $3.08 on January 6, Ripple has not escaped the most recent crash, as it happened to most of the top-20 digital tokens by market cap.
By Andrés Chávez