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Blockchain, cryptocurrencies, and insider stories by TNW.

Ripple dumps more XRP than ever before, exceeding $250M last quarter

Ripple

Ripple XRP sold $106.87 million XRP in institutional direct sales and $144.64 million in programmatic sales during Q2 this year.

According to Ripple’s latest report, the company sold $251.51 million XRP during that time.

Since Q4 2016 to date, Ripple has cumulatively sold $1.14 billion of XRP, the Block’s research has shown. Some 36 percent of this was sold on exchanges, while the remaining 64 percent was sold to institutions.

Daily volume

XRP’s daily volume increased in the second quarter of 2019, according to CryptoCompare’s Top Tier (CCTT) list of exchanges.

Ripple‘s report also says that 12 new exchanges listed XRP in Q2, bringing the total number to more than 130 exchanges.

The average daily volume was $429.51 million in Q2, representing a noticeable 63 percent increase when compared to volume levels seen in Q1 ($156.01 million).

XRP price and volume chart via Ripple

Volatility

Additionally, XRP’s volatility of daily returns over the quarter was 5.01 percent.

Indeed, there was an increase in volatility from Q1, but XRP remained in line with other top digital assets.

When comparing XRP’s performance with other cryptocurrencies, Ripple said the correlation with Bitcoin fell from Q1, while its correlation with Ether remained high.

XRP volatility of daily returns over a month

Finally, Q2 witnessed the highest number of customer transactions on RippleNet.

The number of xRapid transactions increased 170 percent from Q1 to Q2 and Ripple had a 30 percent increase in the number of live xRapid partners in Q2.

It all seems positive for now but in a space notorious for its volatility, only time will tell how things will play for Ripple and its token – but one thing’s for sure, it’s going to keep dumping XRP on retail investors every quarter.

Disclaimer: This is not investment advice. Readers are advised to do their own research before investing in Bitcoin or other cryptocurrencies.

Published July 25, 2019 — 14:45 UTC