Ripple collected $163M from XRP sales in the third quarter

Ripple • October 26, 2018, 9:41AM EDT
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More than doubling its sales of XRP from the previous quarter, Ripple picked up an additional $163.3M in Q3 2018. While so called "programmatic sales" were only up from $56.7M to $65.3M, the company saw a massive boost in sales directly to institutions -- a whopping $98.1M vs. just $16.9 in the prior quarter. Ripple's "Q3 2018 XRP Markets Report" does not explain the big increase. The company notes that volatility of XRP's price was low during the quarter, except for a spike in the final two weeks. It added that 400 million XRP tokens were removed from its 55 billion token escrow on a net basis. Ripple says 38 billion XRP were traded during the quarter and the company's sales totaled just 0.43% of that. Still, Ripple has effectively increased its coffers by $406.5M this year even as XRP trades far below all-time highs. On January 4, XRP hit a record $3.84. Today, it's currently trading at $0.4548. (Source: Ripple)

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John Biggs profile picture John Biggs

John Biggs is an entrepreneur, consultant, writer, and maker. He spent fifteen years as an editor for Gizmodo, CrunchGear, and TechCrunch and has a deep background in hardware startups, 3D printing, and blockchain. His work has appeared in Men’s Health, Wired, and the New York Times. He runs the Technotopia podcast about a better future. He has written five books including the best book on blogging, Bloggers Boot Camp, and a book about the most expensive timepiece ever made, Marie Antoinette’s Watch. He lives in Brooklyn, New York. Disclosure: Biggs owns and maintains cryptocurrencies in a private account and has been consulting with startups regarding blockchain-based products. He also edits and writes for startup clients.

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