Ripple Inc. – the parent firm of XRP (XRP) – just released its financial report for the second quarter of this year. The report contains details of the firm’s partnerships over the past three months, its institutional and programmatic sales, as well as what the community should expect in the next quarter of the year. The second quarter was really friendly to XRP – the third largest digital currency by market. According to the report, the price of XRP surged by more than 28 percent in the second quarter. The daily returns volatility of the digital currency all through the second quarter was 5 percent, which signifies a modest increase from the first quarter of this year.
XRP Was Listed on Twelve New Trading Platforms in Q2 – Cryptocurrency Market Update – Cryptocurrency News Today
According to the report, XRP was listed on twelve new digital currency trading platform in the second quarter of the year. These new additions have increased the total number of trading platforms that feature XRP to more than 130. This means the digital currency now has a wider reach and more digital asset investors across the globe can now buy and trade XRP.
XRP (XRP) Price Today – XRP / USD
Ripple also partnered with CryptoCompare recently. The partnership came as a result of Ripple’s search for solutions to solve the issue of inaccurate trading volumes reported for cryptocurrencies. Ripple partnered with CryptoCompare because of its trust for the data indices of the firm to get rid of any discrepancies in reported trading volumes. Data from CoinMarketCap showed that the average daily volume of XRP was at more than $170 billion in the second quarter while it was $595 million in the first quarter. Whereas, data from CryptoCompare revealed that the average daily trading volume of XRP in the first quarter was $156 million and in the second quarter, it was $429 million.
According to data from CryptoCompare, programmatic sales surged by about 73 percent in Q2, from $107 million in the first quarter to $144.64 million in the second quarter. Whereas, direct institutional sales rose to $106.87 million in the second quarter from $61.93 in the first quarter. This means that the total sales of XRP in Q2 surged by about 48 percent from $169.42 million in the first quarter to $251.51 million in the second quarter.
What the XRP Community Should Expect in the Third-Quarter of 2019 – XRP Price prediction 2019 – cryptocurrency News Today – Cryptocurrency Market Update
Ripple is expecting much growth in the third quarter of this year. As we go into the third quarter, the firm believes that transaction volumes on RippleNet will surge enormously as more partners and customers go live. Ripple will likely collaborate with more institutions in Q3 to foster international settlements, as it is one of the major goals of the firm.
XRP had very impressive sales in second quarter. However, the firm plans to decrease future sales in order to further resolve the issues of inflated trading volumes. A snippet of the report states:
“Ripple plans to take a more conservative approach to sales of XRP in the third quarter.”
The firm also said that there would be a significant increase in institutional interest as traditional brokerage companies, banks, financial institutions, tech firms foray into the blockchain and digital currency ecosystem. The firm acknowledged that institutional interested increased enormously in the second quarter, but it will be more in the third quarter.