RATE Group | Ripple Says XRP Cryptocurrency Sales Doubled in Q3 2018
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Ripple Says XRP Cryptocurrency Sales Doubled in Q3 2018

26 Oct Ripple Says XRP Cryptocurrency Sales Doubled in Q3 2018

Posted at 08:32h in Cryptocurrency News by

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Distributed ledger tech startup Ripple saw revenue from the sale of the digital asset XRP more than double this past quarter compared to the second quarter of 2018.

In its Q3 2018 XRP Markets Report, released Thursday, Ripple announced it sold $163.33 million in XRP, up from $75.53 million in the second quarter. Most of the increase came from institutional direct sales, where Ripple subsidiary XRP II sold $98.06 million, compared to only $16.87 the quarter before. It saw a much smaller increase in programmatic sales quarter-over-quarter, going from $56.66 million to $65.27 million.

That being said, Ripple has yet to match its first-quarter sales of $167.7 million.

Year-over-year, Ripple is still coming out ahead: it sold $19.6 million in XRP in direct and $32.6 million in programmatic sales during the third quarter of 2017 when the cryptocurrency market bull run was entering its peak.

Notably, while Ripple has previously made some mention of new customers in its markets reports,…

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