In the latest quarterly figures, Ripple has managed to sell twice as much XRP than the second quarter. In the past quarter, more than $ 163 million was sold to XRP. That is more than twice as much as in the second quarter: more than 73 million.
These figures are a considerable increase compared to a year ago. In the third quarter of 2017, Ripple sold ‘only’ 52 million dollars to XRP.
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Three billion XRP released
In the third quarter of this year, Ripple issued three billion XRP. XRP is not released by a process like mines, which is the case with other cryptocurrencies such as bitcoin. Since the start of Ripple, there is 100 billion XRP. The organization releases one billion XRP monthly.
The majority of the third quarter is characterized by low volatility, according to Ripple. In the last two weeks of the third quarter, this volatility of the price has risen. This is probably due to the enthusiasm surrounding the go-live of the new platform xRapid by Ripple. At that moment the price jumped up.
Unlike with other cryptocurrencies, XRP is centrally managed. The issuance of the digital currency XRP is therefore managed by Ripple. XRP is used by various banks and financial institutions to process payments faster. Western Union and MoneyGram are already working with Ripple’s xRapid platform.