Monday , June 21 2021

Ripple's CryptoLife sales absorbed by nearly 25% in the last quarter



pulsing crypto-currency xrp
Ripple sold about 24% less than its XRP cryptographic in the fourth quarter than in the third quarter. | Source: Shutterstock

Through CCN.com: Ripple publishes its fourth quarter report this week. One thing is clear: the bear market affects Ripple as much as anyone else. Total sales of XRP by the company amounted to about 129 million dollars compared to the previous quarter, resulting in sales of 163 million dollars.

XRP sales fell in the fourth quarter, but are still wildly profitable

ripple xrp cryptocurrency sales "width =" 955 "height =" 563 "data-lazy-srcset =" https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/ripple-xrp- cryptocurrency-q4-sales.jpg 955w, https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/ripple-xrp-cryptocurrency-q4-sales-300x177.jpg 300w, https: //248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/ripple-xrp-cryptocurrency-q4-sales-768x453.jpg 768w, https: // / wp-content / uploads / 2019 / 01 / ripple-xrp-cryptocurrency-q4-sales-640x377.jpg 640w, https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/ ripple-xrp-cryptocurrency-q4-sales -360x212.jpg 360w "data-lazy-sizes =" (max-width: 955px) 100vw, 955px
Source: Ripple

Considering that total sales fell by more than 24%, XRP still had a large volume of trade in the fourth quarter. Ripple reports an average daily volume of nearly $ 600 million for the quarter. Sales by Ripple Labs account for less than 1% of this volume. At the time of writing, XRP made a 24-hour volume of $ 368 million.

Sales of $ 40 million were made by Ripple II, a Ripple-owned cash business, directly to the institutions. Of the 3 billion XRPs that Ripple is authorized to derive from escrow to finance operations, only 600 million were used in Q4. The other 2.4 billion went back to new accounts. Ripple or is waiting for a better market outlook to take advantage of these reserves, or just needs no more than $ 180 million (roughly the 600M XRP value).

XRP was added to 30 exchanges in the fourth quarter, which turned them into more than 100 common exchanges, listing the bank's convenient mark. In addition, their xRapid product finally came into the market and was accepted by three companies – MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union. xRapid uses XRP as a settlement for large payments between institutions. This is one of the most exciting prospects for Ripple Labs.

RIPLE Shakes ICO Trade

Ripple threw a little shadow on dubious ICOs, saying:

The market continued to mature in the fourth quarter. First, we watched an increase in law enforcement actions against dubious cryptos projects, including ICOs. By eliminating these projects, the market will naturally shrink while legitimate projects thrive, and experiments or scams disappear.

Ripple Labs itself is funded by traditional risk capitalists. Much of its early revenue is the sale of tokens, which is basically the same business model as ICOs. They continue to rely on symbolic sales to the institutions and the very sign of financing operations.

Ripple dropped more than 40% from its 6-month high in September over $ 0.61.

Ripple's cryptos (XRP) is 40% lower than its 6-month peak in September with more than $ 0.61. It remains far from its highest levels of several dollars, which has directed the market capitalization of the high-end marker to the front of the line. Despite ongoing price problems, he is second in overall market capitalization due to the bigger bear market problems faced by former Ethereum # 2.

These figures are typically representative of the whole market. The real liquidity issue of XRP is great because it has all the coins outside of Bitcoin. Bitcoin trades in hundreds of markets against the dollar, while many altcoins, including XRP, are traded against other crypto-points that all earn their value in USD from Bitcoin.

Recommended Shutterstock image. Price charts from TradingView.


Source link