Ripple recently published its quarterly market report for the third quarter of 2018. The report shows an increase in XRP sales during Q3 as against the previous quarter.
Q3 Ripple Performance
According to the market report published on Thursday (October 25, 2018), Ripple sold over $163 million in XRP tokens during the third quarter of the year. This figure is more than double the $73 million sold in Q2 but still less than the $167 million sold in Q1 2018.
The reports also revealed that out of the total $163 million worth of XRP sold, $65.27 million came from programmatic sales. This means that programmatic sales accounted for about 17 basis points of the total XRP volume, which stood at $38 billion at the end of the quarter.
Ripple’s licensed money service business – XRP II, LLC – sold more than $98 million worth of XRP in direct sales to institutional investors. This figure represents a massive increase of more than 480 percent from last quarter’s total sales of $16.87 million.
The global XRP volume shrunk from $45 billion to $38 billion. The company also released $3 billion worth of XRP out of escrow. Out of this amount, Ripple sent $2.6 billion back into escrow. Ripple created the escrow at the back end of 2017 as a means of strengthening the cryptocurrency.
Ripple’s Q3 market report also touched on the performance of the XRP token during the period. XRP mirrored the sideways trading that characterized Q3 2018 with a shrinking volatility. However, following a raft of positive developments in September, the 3rd-ranked cryptocurrency saw a marked increase towards the end of the month.
Changelly Unveils XRP Purchase via Debit/Credit Card Payment
In another development, Changelly recently announced a partnership with payments processor Simplex to allow customers to purchase XRP with their debit/credit cards. In an email sent to Changelly customers, the cryptocurrency exchange platform said:
Time to buy XRP now! Convert USD or EUR to Ripple (XRP). Big news for Ripple fans and wise investors! You can seamlessly buy XRP on Changelly via our partner Simplex from now on. Give it a shot! Best investments, Changelly.
Commenting on the partnership with Simplex, Ilya Bere, the Changelly CEO, said:
Changelly team couldn’t be more excited to have Simplex onboard as our credit card processor partner. Thanks to Simplex, we monthly provide fiat-to-crypto payments for over 700K our customers around the world. Due to Simplex’s great service, our payment process is risk-free, and our users are more than happy.
What do you think about Ripple’s Q3 2018 performance? Let us know your thoughts in the comment section below.
Images courtesy of Ripple and Shutterstock.