Ripple Labs has published a report on the XRP market for the second quarter of this year. The report details the developments that have occurred in the last 3 months in relation to XRP, as well as the predictions for the market for institutional investors.
First and foremost, Ripple sold about $ 73,53 million in XRP, and these sales amounted to 0.125% of global transaction volume XRP. This includes $ 16.6 million in XRP sold programmatically, and $ 16.8 million in XRP at the expense of direct sales from XRP II, was a subsidiary of the company.
Of the 55 billion that are on the escrow account of the company Ripple, this quarter was taken 3 billion and 2.7 billion returned to the account.
XRP escrow account Ripple consists of independent and discrete escrow accounts in the main Ledger, which produce a total of one billion XRP every month. The purpose of this is to increase the upper limit of the number of new tokens, XRP, which can be brought into circulation.
– The number of XRP that are actually issued will probably be a lot less. Each remaining XRP will be placed on new conditional escrow account for release in the next month, – stated in the company blog.
In the second quarter of the remaining 300 million XRP was designed to “support ecosystem XRP”. In may Ripple announced the launch of Xpring, funding of new developments in the ecosystem XRP. It also seeks to encourage the creation of new precedents token XRP.
In the ecosystem also now includes XRP Coli. Coil — a company headed by one of the creators of the Protocol InterLedger, Stefan Thomas, seeks to use XRP, together with the Protocol to support online content through micropayments.
In addition, tokens XRP uses Scooter Braun who is the Manager of many famous personalities such as David Guetta, Ariana Grande and Justin Bieber. Braun, via his company SB Projects, uses XRP to help their employers to monetize and manage their content.
Ripple also provided information about the current state of the market, putting on the ratio between the price of XRP and total market capitalization.
– Strong correlation indicates a market that is still in its infancy. Traders still have to distinguish between the real price of the most reputed digital assets. As the industry Matures and decides which is the most useful and valuable, we should expect more of the separation of powers – stated in the report.
Ripple has increased the differences between Ripple and XRP.
It is also important to note that, despite the fact that this is the best quarter the company has, in terms of a signed customer — XRP price has continued to decline with the price of other digital assets, stressing the independence XRP from Ripple – stated in the report.
Ripple also told about the market in General, touching upon regulatory issues. In addition, the report was a section dedicated to events in the banking space in relation to cryptocurrencies. They told about the events conducted by Goldman Sachs, JP Morgan, Nasdaq, Fidelity and Nomura.
– No matter what, it is clear that financial institutions begin to see the potential in crypto-currencies and the use of technological solutions to take advantage of this opportunity is stated in the report.
The volatility of the token XRP was low: XRP market has slowed considerably compared to previous quarters. The volatility of the token was 5.7%, which is the lowest level since the fourth quarter of 2017. Interestingly, in the second quarter of 2017, the volatility was 22.3%.
However, the XRP price has declined, however, lost 50% of its value since the high in may when it reached a value at $ 0.91. Currently its price is at the level of 0.46 US $ per token, after nearly a month she remained in the range of 0.40 dollars, or 0.50 dollars.
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