April 25, 2019, | AtoZ Markets - Ripple is a leading U.S based Fintech company providing payment settlement solutions to B2B, released its Quarter 1 report for the year 2019. The report provides an insight into the amount of Ripple or XRP coin taken out from the escrow account, the company's financial progress, and an overall update on the Ripple's market.
At the time of press, Ripple price is trading at $0.3028 with a total market cap of around $12.7 Billion in accordance with coinmarketcap stats.
Ripple sales increased 31 percent in Q1 of 2019
According to Ripple's report, which was published on their official website, "In Q1 2019, Ripple sold $61.93 million of XRP in institutional direct sales and $107.49 million of XRP in programmatic sales. In total, Ripple sold $169.42 million of XRP in Q1"
The report for quarter 1 escrow report also states that a total of 3 billion XRP were again released out of escrow (one billion each month). Additionally, 2.30 billion XRP was returned and put into new escrow contracts. The remaining 700 million XRP not returned to an escrow are being used in a variety of ways to help support the XRP ecosystem.
|Sales Summary ( in $ millions)||Q4 2018||Q1 2019|
|Institutional direct sales||40.15||61.93|
|Global XRP volume||54.82B||53.85B|
|Total sales as % of the total volume||0.24%||0.32%|
Moreover, Quarter 1 saw significant developments from key companies such as XRPL, Kava, Forte, and Bolt Labs which were focused on projects building and utilizing XRP, the XRP Ledger and ILP.
Volatility, Volume, and Correlation of XRP
XRP’s volatility of daily returns over the quarter was 2.9%, marking Q1 the second-lowest volatility quarter since Q4 of 2013. Rolling volatility of 30-day returns steadily declined throughout the quarter such that XRP volatility of 30-day returns fell to its lowest levels since Q3 2016. While the Ripple price decreased, the average XRP daily volume was $595.28 million which was almost the same of XRP daily volume from Q4 2018. Moreover, XRP’s correlation with other top digital assets remained consistently high throughout the quarter.
Ripple's XRP listed in new exchanges
Since the beginning of 2019, Ripple Lab's XRP has been added to 19 new exchanges bringing the total number to approximately 120 exchanges worldwide.
In addition, the company has announced RippleNet has surpassed more than 200 customers worldwide, with the addition of 13 new financial institutions that signed up for the company’s payment network. Few of the companies include Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento.
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