Ripple has published its Q2 2018 report for its XRP (XRP) token on July 24th. As the report shows, Ripple’s sales of XRP crypto tokens are nothing when compared with the overall Ripple achievements. The report, as Ripple pointed out, indicates that XRP (XRP) fall is in line with the other cryptocurrencies, suggesting the XRP is independent of Ripple company.
The report says Ripple sold $75.53 million during Q2 2018, while only $56.66 million were sold through scheduled sell-offs. On the other hand, the direct XRP (XRP) sales totaled $16.87 million, realized via the subsidiary of Ripple, XRP II, LLC, a privately-owned, licensed money services business (MSB).
Highlighted by the report is the reduced volatility of XRP (XRP) during Q2 2018, with a 9.0 percent drop in retail prices, in line with the 8.2 percent fall recorded by Bitcoin (BTC).
Moreover, the paper also addressed custody activity, claiming that 3 billion XRPs were de-committed from custody contracts in Q2, while 2 billion XRPs were deposited in new custody agreements.
XRP (XRP) fall is in line with Bitcoin (BTC), Ripple stated, proving that XRP is independent of Ripple company
Commenting on the Q2 general market, Ripple stressed that XRP (XRP) is independent of the Ripple company itself. The new Q2 report points out that the fall in the XRP token prices was in line with the widespread tendency of the cryptocurrencies market, noting that the overall market capitalization of all cryptocurrencies dropped from $603.7 billion in January 2018 to $254.7 billion by the middle of the year.
“It is also important to note that although Ripple had the best quarter in its history in the second quarter (regarding signed customers and partnerships), the price of XRP (XRP) continued to fall along with other digital assets, underlining that XRP is independent of Ripple,” stated the report.
XRP (XRP), the third-largest cryptocurrency by market capitalization, hit its maximum price of $3.81 on January 4th, 2018. At the time of this article, XRP trades at $0.455, shedding by about 0.1% in the last 24 hours and by more than 10% in the past week.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.