Ripple – a payments startup – recently published the Q2 report of XRP (an independent digital currency). In the report, there was a decline in the sales of XRP in the second quarter of this year when compared to the first quarter of this year.
The Second Quarter Report of XRP
The report was released on the 24th of July, and it states that the firm sold XRP worth $75.53 million, compared to the $167.7 million of the first three months of this month. Also, the market volume of the digital currency reduced in this quarter when compared to the last quarter of last year and the first quarter of this year.
However, within the total sales of $75.53 million, the direct sales from XRP II – a subsidiary of Ripple – increased from $16.6 million in Q1 2018 to $16.87 million in the second quarter. Whereas, the programmatic sales of XRP declined to $56.66 million from $151.1 million in the first quarter of the year.
XRP Customer Base Increased in Q2
When it comes to the number of clients that signed up for the platform, the firm considers this period as one of its best quarters ever. The dramatic decline in values went across the board. The decline in both values and volume affected all the top digital currencies in the market, and a lot of digital currencies were deep in the red – according to the report.
Ripple, which uses XRP ledger for some of its products has been countering claims that the digital currency is tied to the firm. At a conference last month, Brad Garlinghouse – the Chief Executive of Ripple said that the digital currency is not dependent on the firm, and he also went ahead to say that XRP isn’t a security.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the third most valuable digital currency in the world by market cap is changing hands at 46 cents after an increase of about 1 percent over the past twenty-four hours. The market cap of XRP is $18.15 billion and its trading volume over the past twenty-four hours is $340.65 million.