San Francisco based cryptocurrency startup Ripple released its Q4 XRP markets report today. The company noted that it had sold XRP worth $129.03 million during the last three months of the year which accounted for 0.24% of the global XRP volume in the same period. This brings the total amount generated by XRP sales to $535.56 million for the entire year of 2018.
XRP Sales Figures for Q4
Programmatically, Ripple sold XRP worth $88.88 million in the fourth quarter of 2018. It represents 0.16% of 16.2 basis points of the total global XRP trading volume. XRP II LLC, a Ripple subsidiary that is licensed and registered as a money service business (MSB) sold XRP worth $40.15 in direct institutional sales.
During this period, three billion XRP coins were released out of escrow (one billion XRP each month) of which 2.4 billion were returned and put into new escrow contracts. The remaining 600 million coins are being used to support the coin’s ecosystem, especially Xpring investments, and RippleNet Accelerator Program.
Volatility and New Developments for XRP
Ripple notes, “In Q4, we saw an overall settling of XRP volatility compared to quarters’ past. XRP’s volatility of daily returns was 5 percent – the lowest quarterly average since Q4 2016. Conversely, we saw the average daily volume for XRP increase substantially. The average XRP daily volume was $595.7M – the highest quarterly average since Q1 2018.”
Towards the end of Q4, XRP’s correlation with other top digital currencies went back to the levels it achieved between Q1 and Q3 2018. During this time, 30 new exchanges listed XRP making the coin available for trading at 100 exchanges across the globe. Nine exchanges, including Binance, included XRP as a base pair against another digital asset(s).
At the beginning of Q4, Ripple’s xRapid product which uses XRP for adding liquidity on-demand became commercially available. Three entities- Catalyst Corporate Federal Credit Union, MercuryFX and Cuallix, became the first to use this product.