The remittance blockchain start-up firm, Ripple, has just released a report evaluating its performance as well as that of its native token, XRP, in the first quarter of the year 2019.

Tagged ‘Q1 2019 XRP Markets Report,’ the outline disclosed that Ripple Labs Inc. sold a total of $169.42 million worth of XRP in Q1 2019, an amount approximated to be 562 million XRP. The total sale was reckoned to be 0.32% of the total XRP volume in circulation.

Compared to Q4, 2018, the Institutional direct sales for this quarter recorded an increase of $21.78 million, while the Programmatic sales surged by $18.61 million in the same way. An articulated result revealed that XRP sales in the first quarter of the year rose by 31.3% compared to the previous.

Inflow into cryptographic escrow recorded 2.30 billion XRP while a total of 3 billion was transferred out of the system. According to the report, the 700 million XRP deficits were earmarked for support of the XRP ecosystem.

Furthermore, the latest auction made the total number of XRP sold out since the creation of the coin hit $890 million, an amount close to 1 Billion.

A Take Home For All: A Blessing Or Woe For XRP?

In the last few days, the market has been quite volatile than before. Bitcoin has been able to cross the $5,400 short term resistance as altcoins follows its lead in the market, before loosing $8 billion due to the Bitfinex issue.

Placing much reference on the newest sale, the report indicated that since the beginning of Q4 2013, XRP volatility in this quarter was detailed as the second lowest. With a steady decline in rolling volatility, XRP daily returns instability was pitched at 2.90%, marking the lowest since Q3 2016.

The average daily volume of the altcoin in Q1 2019 remains moribund when compared with the previous quarter’s report, after witnessing a successive price fall. Nevertheless, the outcome seems a woe for XRP as other top class coins remained consistently high throughout the quarter.

While these seem like a devastating result for the altcoins and its investors, XRP, especially through its parent company has got some jackpots to make things return back to shape in the next quarter.

Unlike before, a number of reputable firms that partnered with Ripple to use its blockchain technology have begun to show interest in its native token, and this, would undoubtedly fruit positivity for XRP.