Currently, cryptocurrencies ranking in top 10 are all declining except one coin- Tether. TUSD only coin seen trading positive with 0.20% change over 24-hours. Bitcoin is trading with -2.65% changes; Ethereum is trading with -5.89% changes, Ripple with -4.37% and so on.
$535 Million Worth Total Sales Of XRP In 2018
The report reveals that Ripple sold a total worth of $535.56 million as of XRP tokens in full 2018. Considering this figure, amount of approx. $171 million was achieved from institutional investors, whereas, an amount above $363 million was retrieved from sales through third-party market makers.
As for the fourth quarter of 2018, XRP reports that it sold 129.03 million worth of XRP. This figure is over 20 percent less than the sales recorded in the preceding quarter which stood at $163.33 million.
The analysis suggests that one mere cause for this drop. This might be a contraction within the direct institutional sales regarding XRP II. This is the licensed money transmitting arm of the company. In the last quarter, Q4 of 2018, the reports says XRP II to have sold over $40.15 million, which is less than half the sales amount covered for Q3 2018 i.e. $98.06 million.
Moreover, the figure shows growth in programmatic XRP sales specifically through third-party market makers. Ripple has retrieved the programmatic XRP sales for the match with $88.88 million worth in Q4 2018 in comparison to the $65.27 million worth in the previous quarter. As total sales, the company has to sell over $535.56 million worth in XRP tokens of 2018 as a whole.
Growth in Ripple XRP Utility
As far as adoption, Ripple has experienced growth in utility with regards to the XRP token, specifically with crypto exchange platforms. Moreover, Ripple XRP seems listed with more than 100 platforms worldwide. This figure is mentioned by the market report specifying a 100% growth in comparison to the closure of 2017, which were relatively 50.
Furthermore, according to the company, this token is achieving more utility traded as a base pair relating nine digital exchanges like Binance. The report also mentions xRapid, which is the cross-border payment solution presented by a company operating since October 2018. Notable financial institutions such as Catalyst Corp, Mercury FX are already working with xRapid.
The Latest Partner By Ripple Using XRP-Powered xRapid
Transpaygo is a Vienna operating Fintech startup which announces to use xRapid for making transfers within the areas of Mexico and the Philippines. On the other side, its founder believes that blockchain technology presented by Ripple will show a huge influence on the international exchange rate transfers in the coming future.
Transpaygo considered one amongst the latest partner of Ripple. This startup is good at international payment transfers regarding small and medium enterprises owned by Mirko Kinigadner. According to him:
Thanks to Ripple, we can tap the promising markets of Mexico and the Philippines in a whole new way for money transfer. In this cooperation, we see the future: even safer and cheaper money transfers abroad within few minutes.
Kinigadner further specifies that the traceability of international transactions along with the exchange of information has been increasingly important at the moment. Using Ripple’s technology, the company can now accomplish international transfers within a few minutes.
Ripple is joining their hands with every possible industrial firms to make sure they go trending. They are looking forward to innovating and replenish their technology together with enriching their ongoing platforms with the growing markets.
Ripple Recent Updates
- Brad Garlinghouse Says Ripple Is Great For Banking
- A Face Off On The Future of Cross-Border Payments- Ripple and Swift
- Ripple Is Following Cryptocurrency Mass Adoption. Know How.