A financial technology startup building a global blockchain payment network for a financial institution, Ripple, have released its third-quarter market report this week. They have revealed that they have sold over $160 million XRP during the quarter.

As announced by the official Twitter, they posted a link to the XRP market report:

The Q3 #XRP Markets report is here. Read about the key events in the XRP ecosystem over the last three months, including asset trading in Malta, hints at #crypto Wall Street adoption and why there was far less volatility in the markets this quarter. https://t.co/XYNp0D5S5F — Ripple (@Ripple) October 25, 2018

According to the report, Ripple sales accounted for 0.43% of global XRP volume. Over $65 million worth of XRP was sold programmatically by Ripple. However, just under $100 million worth of XRP in institutional direct sales by XRP II, LLC, a subsidiary of Ripple.

An increase in XRP sales is good news for Ripple and the eventual adoption of XRP. This new Q3 figures announcement comes off the back of 9 months of partnership announcements, all of which are now proving to have an impact on the popularity of XRP as a digital asset.

These sales of XRP are more than double that of the previous quarter, where Ripple’s programmatic sales totalled around $56 million while the sales made by XRP II, LLC were just under $17 million.

This is a market-wide trend. Cryptocurrencies are now starting to sell at higher volumes than seen before, proving that cryptocurrency is well on its way towards seeing true adoption.

As stated by

SludgeFeed

,

“Ripple also states in the report that it released three billion XRP out of cryptographic escrow, and returned 2.6 billion XRP to escrow.”

This leaves for around 400 million XRP, not in escrow, which the company notes will be used to further expand its business operations and ecosystem.

At the current time of writing, XRP is in the green with an increase of 0.46% over the past day and is priced at $0.458 according to

CoinMarketCap

. This gives the altcoin over $18 billion of a market cap and makes it the third biggest coin in the markets.

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