The second largest cryptocurrency by its market cap, Ripple (XRP), is making the cryptocurrency news headlines today for its plunged sales which are down by nearly 25% since last quarter, leading the altcoin to a new state of isolation.
In its fourth-quarter markets report which was released this week, Ripple showed that the bear market is affecting the altcoin as much as any other cryptocurrency asset. The total sales of XRP from the company amounted to around $129 million compared to the previous quarter which saw sales of $163 million.
The XRP sales are down in Q4 but are still lucrative, according to many people. At the time of writing, XRP had done a 24-hour volume of $368 million. Even $40 million in sales were conducted by Ripple II which is a money services business owned by Ripple and based on institution sales.
Additionally, XRP was added to 30 exchanges during the fourth quarter which put more than 100 total exchanges that list the bank-friendly token. Additionally, the xRapid product finally hit the product and saw adoption by three firms – MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union.
Currently, xRapid uses XRP as a settlement layer for large-scale payments between institutions – becoming one of the most exciting prospects for Ripple Labs.
Right now, the Ripple altcoin (XRP) is down by 40% from its 6-month high in September of over $0.61 – remaining a far cry from its all-time high of several dollars but going strong and holding the #2 spot in overall market capitalization.
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