Home / Crypto News / Ripple XRP sales more than doubled in the third quarter of 2018

Ripple XRP sales more than doubled in the third quarter of 2018

Ripple XRP sales more than doubled in the third quarter of 2018

In an entry on the official ripple website, Cory Johnson and Miguel Vias of Ripple have now presented current aspects of the business situation. This entry highlights the transparency of Ripple Labs. At the same time, it demonstrates continued growth in a difficult and relatively sluggish market.

The entry is titled “Q3 2018 XRP Markets Report”. The text indicates that Ripple Labs sold over $ 163 million in Ripple XRP Coins in the third quarter of 2018. This is all the more surprising given the volatility and negative behavior of the market as a whole.

Next, you can see that the coin sale was even higher than in the previous quarter. In the second quarter of 2018, Ripple Labs sold $ 73.53 million in Coins, less than half of the third quarter ($ 163.33 million).

Another important point is the company's strategy for price stability. So the company has limited the total amount of all circulating ripple XRP. However, part of the frozen funds was gradually released in the 3rd quarter. Part of it will be used to support the XRP environment. The remaining Ripple XRP paid the company back to new trust accounts. The entry says:

“In the fourth quarter of 2017, Ripple [Labs] held $ 55 billion [ripple] XRP in a cryptographically secured trust account. Ripple has done this to ensure a safe supply of [Ripple] XRP at all times. By custody, Ripple [Labs] only has access to 13 percent of all circulating [ripple] XRP. Sales of ripple are only a small fraction of that amount. In the third quarter of 2018, 3 billion [ripple] XRP were withdrawn from the trust account (1 billion per month). Subsequently, $ 2.6 billion [Ripple] XRP was reinvested in new escrow accounts. The remaining 400 million [ripple] XRPs that were not given back in trust are used in many different ways to support the XRP environment. “

In recent months, Ripple Labs has been one of the most reported companies in the crypto environment. The growing number of Ripple Labs strategic partnerships has further enhanced its reputation in the community.

Also positive was the company's swell conference and the release of the xRapid solution. Both drove the company's market capitalization to new heights and made market capitalization temporarily outperform even that of Ethereum. This proves the potential of the company and its cryptocurrency.

For the past two weeks, Ripple XRP has been fairly stable. The price fluctuates around the mark of $ 0.46. Thus, Ripple XRP is currently showing the same sideways movement as many other cryptocurrencies.

Ripple XRP sales more than doubled in the third quarter of 2018

Sources: Ripple, CNBC, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-xrp-verkaeufe-haben-sich-im-3-quartal-2018-mehr- als-verdoppelt/

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