Ripple Sold Massive XRP In 2018

In the latest cryptocurrency news, a report released directly by Ripple suggests just how much XRP the company sold. The highlight of the report specifically points to a big year-over-year leap in terms of the volume of institutional participants. Interestingly, the latter refers to individuals who bought the said digital currency.

Massive XRP Sold

Basically, Ripple was successful in selling around $180 million worth of XRP in all of 2017. But this was not just the highlight of the figures reported by the firm. It turns out that, according to the report published, the company made a massive jump to about $535 million last year.

Of the aforementioned figure from 2018, the company managed to sell over $170 million of the digital currency and was made so directly to institutions. The rest of the cryptos were sold programmatically directly to digital currency exchanges, including other institutions that have processed deals with the company before all of this.

The report released by Ripple simply features the correlation of the above-mentioned cryptocurrency with the other digital currencies in the top three. These are namely, Bitcoin and Ethereum.

As per the report released by the company, it saw an overall settling of the cryptos’ volatility, especially when compared to the fourth quarter’s past. The volatility of the digital currency’s daily returns was reportedly around 5 percent. The latter, in particular, is deemed to be the lowest quarterly average since the fourth quarter of 2016.

XRP’s Journey In 2018

In addition, Ripple experienced a daily volume increased for XRP, with an average of about $595.7 million. This has been by far the highest in terms of quarterly average since the first quarter in 2018. Moreover, towards the end of the fourth quarter, the digital currency’s correlation with top digital assets returned to greater heights, all of which were seen through the latter part of the first quarter from last year through the early third quarter.

Ripple further suggests that there are more than 30 digital currency exchanges that listed the second largest crypto in the fourth quarter of 2018. This ultimately brought the overall number of exchange adopting its cryptocurrency to more than a hundred.

It should be noted that Ripple owns at least 60 percent of the total supply of XRP. Plus, most of its holdings are locked in escrow. While it is true that 3 billion of XRP were released out of the latter, the value that was returned reached 2.4 billion XRP.