The Ripple and XRP community have a reason to begin the weekend by celebrating. Ripple’s latest report brings good news, and it reveals that the company and its digital assets have been making massive progress.
Ripple’s latest report
This new report shows who much XRP has Ripple been selling and the figures are more than impressive. They show a considerable increase in the number of institutional names that are buying Ripple’s XRP.
The company sold about $181 million worth of XRP back in 2017. According to Ripple’s latest report, that number surged to $535 million in 2018.
Of the $535 million, the company sold $171 million XRP to institutions and the rest of XRP was sold to crypto exchanges and more companies that dealt with Ripple.
“In Q4, we saw an overall settling of XRP volatility compared to quarters’ past. XRP’s volatility of daily returns was 5 percent – the lowest quarterly average since Q4 2016. Conversely, we saw the average daily volume for XRP increase substantially. The average XRP daily volume was $595.7M – the highest quarterly average since Q1 2018,” says the report,
This is not all. Another great news is that Ripple revealed that 30 new exchanges had listed XRP in Q4 2018 and now the number of exchanges that have registered the digital asset exceeds 100.
Ripple plans to penetrate the Chinese market
Ripple has been working really hard lately to move closer to mass adoption and to expand the reach of its products.
Ripple has its eyes set on the Chinese market these days, and it plans to penetrate it via its partnership with Tsinghua Univerity, Smartereum notes.
“The goal of the program is to give Chinese students the opportunity to learn about blockchain research. It is in line with our global university blockchain research initiative. We, at Ripple, are happy to support this endeavor as we look forward to the launch,” Eric Van Miltenburg, the SVP of Ripple’s global operations said as reported by Smartereum.