Altcoin News: Ripple Q2 XRP Market Report: xRapid Transactions up 170% — Ripple Sells over $400 Million in XRP

July 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Ripple publishes the XRP Market Report every quarter. On the 24th of July, it was time again: the XRP Market Report from Q2 for the year 2019 was published.

It was mainly about the sales of XRP tokens by Ripple itself, the XRP trading volume and the use of xRapid. Ripple tries to create more transparency in the crypto room with these regular and detailed reports. With this, the company hopes to further increase its confidence in Ripple and XRP

Ripple will take over $400 million in XRP sales in 2019

According to the report, Ripple has raised a total of $251.51 million in Q2 2019 through the sale of XRP. That is about 48.45% more compared to the XRP sales from Q1 2019. Ripple was thus able to generate a total of 420.93 million US dollars from XRP in the first two quarters.

In the last 6 months, a total of 6 billion XRP have been issued from the Ripple Escrow. But 4.4 billion of these have returned. The remaining 1.6 billion XRP were sold or used for partnerships. Thus, the number of XRPs in circulation has increased by about 3.88%.

Ripple wants to restrict XRP sales and recalculate XRP trading volume

Responding to the community’s concerns over the XRP sales and pricing pressures, Ripple has now responded and plans to restrict XRP sales in the next quarter. The reason for this is not only the concerns of the community but also the recalculation of the daily XRP trading volume.

The fake trading volumes on the Exchanges are now also penetrated to Ripple. Since the sales from the Escrow are also dependent on the daily trading volume, they have to be recalculated. This serves as protection so as not to put pressure on the XRP price through their own sales.

xRapid transactions increase by 170%

Ripple’s XRP Market Report also revealed the current status of xRapid. Based on the information in the report, xRapid transactions increased 170% from Q1 to Q2. In addition, the number of live xRapid partners has increased by 30%. This could have something to do with the xCurrent 4.0 update. This gives the xCurrent partners the opportunity to use xRapid directly. Unfortunately, the report does not provide information about the exact number of XRP transactions via xRapid.

Ripple continues to build on Xpring

Ripple also refers to Xpring, the company’s fundraising arm, which “aims to help the developer’s open source community by building on the decentralized XRP ledger and use cases for XRP in that ledger.”

This support comes in two ways:

1) supporting innovative blockchain projects through partnership and investment;

2) Building the Crypto Infrastructure by contributing to open source crypto protocols such as the XRP Ledger and Interledger projects.

In addition, Xpring is building a developer platform to help open source developers to leverage these protocols.

Ripple’s positive development could boost the XRP price

The XRP Market Report clearly shows that Ripple’s upswing in 2019 was strong. However, this positive development could hardly move the XRP course. In the meantime, the XRP price has risen to about $0.40 in the meantime due to several messages but was unable to hold on to it and has since fallen back to around $0.31.

The positive development for xRapid is probably the only thing that could somehow move the XRP course upwards. We are all looking forward to the report from Q3 and how it will continue for Ripple and XRP in the coming months. Maybe by this time, the XRP course can start to tighten. The prerequisites for this are at least given.

Author: Marko Vidrih