A new report from Ripple boasts of a surge in sales for XRP…
by Manoj Sharma for CNR
In a recent report published by Ripple for the third quarter of 2018, it’s been announced that XRP sales have increased during the period against the previous quarter, and by some distance.
As per the market report published on October 25, Ripple sold over $163 million in XRP tokens during Q3 of the year 2018. The statistic is double that of the second quarter sales, that came in at $73 million. That said, they still lag some distance behind Q1, where sales totalled $167 million. That said, that was peak time for cryptocurrencies, where the price was just coming down from its dramatic peak.
The report shows that $65.27 million out of the total $163 million worth of XRP sold came from programmatic sales. It means that the programmatic sales accounted for approximately 17 points.
XRP II. LLC, Ripple’s licensed money service business, sold more than $98 million worth of XRP in direct sales to the investors. $2.6 billion were sent back into escrow by Ripple, which the firm created at the back end of 2017 to strengthen the digital assets.
The report also shows the XRP token’s performance during the period and revealed that it mirrored the overall sideways trading that characterized the third quarter of 2018, thanks to shrinking volatility. But, with the positive development during September, Ripple saw a marked increase by the end of the month.
In addition, Changelly recently announced a partnership with Simplex, which will allow their users to purchase XRP with debit/credit cards, thus adding another positive development in the account of Ripple. Don’t be surprised if Q4 numbers spike again…