Ripple Keeps Wining Despite Current Price Condition Of XRP But What Does The $251 Sale In XRP Say About Ripple?

Ripple’s News Today has been met with little surprises. On Wednesday, the second-quarter report of Ripple was released revealing the company has a new partner, as well as hitting highs and lows in different sectors. The total XRP sales of this distributed ledger firm saw a 48% rise in this quarter, leading up to $251 million, which outperforms the total sales of $169 million that were reported in the first quarter.

Ripple News Today – XRP News Today – Ripple Continues To Attract Institutional Investors

The uptick was driven by direct institutional sales, which saw a 73% increase, a climb from $61.9 million to $107.9 million. In spite of the success made in direct institutional sales, the larger amount of sales volumes was accounted for through programmatic sales. From $107 million made in programmatic sales in the first quarter, a steady rise of $144.6 million realized from programmatic sales was reported in this quarter.

Notwithstanding the amount of reported growth, the company sets out with a forward-thinking stance, it has gone on to state the desire of the firm to approach the sales of XRP more conservatively in the third quarter.

There is already a plan in motion to retract from some over-the-counter (OTC) exchange markets and place more effort on areas needing more liquidity, albeit the institutional sales of the company might be negatively affected. Similarly, the lowered trading volumes of programmatic sales found at 10 points basis will be targeted by Ripple.

Ripple Latest Update further reveals that the global trading volumes of the company has been met with consistent drop of 28% across different quarters which is perceived to be a result of better accounting by the company and not a failing strategy in doing business; from $595 million global trading volume in the previous quarter to $429.5 million.

Ripple changed its trading volume benchmark in June, at midway in the second quarter. It announced that it partnered with CryptoCompare, a data, and indices firm to get rid of statistics that have been previously inflated. Charles Hayter, the CEO of CryptoCompare mentioned that order book data and granular trade were used by his firm in place of aggregate volumes.

Beforehand, Ripple publicly reported its CoinMarketCap’s data. This has resulted in a difficulty in comparing the information in its present release with the releases from previous quarters, as they are mainly based on dissimilar metrics.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.245
-1.57%

An instance of this is revealed in the 195% increase from the $595 million reported in the first quarter when a major part of the unverified volume is left unfiltered. Against the CoinMarketCap, the global trading figures of Ripple will almost stand at the 1.8 billion marks. It is yet to be seen whether the company will go ahead to update the reports from previous quarters for better reflection of the new standards being adopted. The company is yet to clarify the present findings.

XRP News Today went on to reveal a 25% price increase across different quarters, with an expansion to 12 more exchanges, reaching $0.40, as well as averaging 5% volatility in its daily returns.

The company released a billion XRP monthly from escrow across the quarter, the XRP Latest Update also reveals. Ripple used new contracts to replace 2.1 billion XRP, whereas its partnership with MoneyGram and the development of Xpring project accounted for the outflow of 900 million. As reported earlier, the company’s $30 million purchase of MoneyGram will solve the payment issues experienced by remittances firm struggling internationally.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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