Ripple’s Cryptocurrency Sales Plunged by Nearly 25% Last Quarter

Ripple released its fourth-quarter markets report this week. One thing is clear: the bear market is affecting Ripple as much as anyone else. Total sales of XRP from the company amounted to around $129 million versus the previous quarter, which saw sales of $163 million.

With overall sales down by over 24%, XRP still saw massive trading volume in the fourth quarter. Ripple reports an average daily volume of nearly $600 million for the quarter. Sales from Ripple Labs accounted for less than 1% of this volume. At time of writing, XRP had done a 24-hour volume of $368
million.

$40 million in sales were conducted by Ripple II, a money services business owned by Ripple, directly to institutions. Of the 3 billion XRP that Ripple was authorized to bring out of escrow to fund operations, only 600 million was used in Q4. The remaining 2.4 billion went back to new escrow accounts. Ripple is either waiting for a better market outlook to make use of these reserves or simply doesn’t have a need of more than $180 million (roughly the
value of 600M XRP).

Reference: https://www.ccn.com/ripples-cryptocurrency-sales-plunged-by-nearly-25-last-quarter/

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