Ripple Doubles Its Revenue In Q3 From The Sales Proceeds Of Its XRP Tokens

Oct 26, 2018 at 09:00 Update Date :Oct 26, 2018 at 09:00 UTC

Ripple, an American tech company, in its quarterly reports stated that the revenue generated from the sales of XRP tokens is doubled in the quarter three (Q3) as compared to the previous quarter (Q2).

The company published the report on their website, and as per the reports, the selling of XRPs is over $163 million. Despite a high volatility, the company succeeded in generating profit more than expectations.

The most exciting thing about the reports was that the direct sales increased up to $98.06 million, wherein the second quarter it was $16.87 million. There is an uplift of around 500%. The company sold XRP worth $163.33 million in the third quarter, which is significantly more than double the $73.53 million sold in the second quarter.

In the third quarter, the sales volume is 0.172% of the total XRP volume trade worldwide, whereas, in the second quarter it was around 0.125.

In 2017, analytics of the same quarter of XRP II were LLC sold around $19.6 million of XRP in a direct trade while programmatically it sold around $32.6 million. And for the third quarter, the sales were around 0.20% of the total trade of $16.50 billion.

The reports also mentioned the volatility of the third largest crypto in the world – Ripple, which involves sure price of over 100% in the month of September. This led it to take over the position of Ethereum which is second in the market.

These whole upsurges made the coin a centre of attraction of the crypto market and also draw the attention of the founder of Tron Foundation, Justin Sun.

A month ago, ripple announced to lead a group of crypto startups, Securing America’s Internet of Value Coalition to financial regulators in D.C. The aim of the group is to soften the stance of the government in order to uplift healthy competition and innovation in the crypto ecosystem.

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