Ripple Report: XRP Sales Dropped 54% in Q2, But Customer Base Grew

July 25, 2018

 

Payments startup Ripple reported a sharp decline in XRP sales in the second quarter of 2018, when compared to the first three months of the year. The Q2 2018 XRP Markets Report, published Tuesday, explains that the company sold $75.53 million in XRP, compared to the previous quarter's $167.7 million – marking a decrease of 54.96 percent. Similarly, overall market volume also dropped in the second quarter, especially when compared to the fourth quarter of 2017 and first quarter of 2018. Within the $75 million total, however, direct sales from Ripple subsidiary XRP II rose to $16.87 million, up from $16.6 million in the first quarter. Meanwhile, programmatic XRP sales fell from $151.10 million to $56.66 million (down 62.5 percent), and only accounted for roughly 0.125 percent of the global XRP volume. Ripple still considers the period its "best quarter ever in Q2," at least in terms of the number of customers signed up. The decline in price over the period largely aligns with the overall bear market, it adds. XRP is the 3rd largest cryptocurrency by market cap size. It is up 2.98% over the past 24 hours and is currently trading at $0.457684. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.

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