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Ripple: Bullish market report released, XRP price rising

July 25, 2019 at 10:00 AM | By Jit Sutradhar Markets News

Ripple affirms in its current market report that it intends to sell less XRP in the future. The FinTech company, which focuses on international payments, also wants to increase transparency in the crypto market. Overall, the current market report is bullish.

Ripple has released its latest market report. It states that the company sold $ 251.51 million in the cryptocurrency XRP in the second quarter of 2019. However, the company intends to reduce these sales in the future. In addition, according to the company, it wants to ensure in future that the ecosystem as a whole becomes more transparent. Therefore, Ripple has joined forces with the crypto-analysis company CryptoCompare. Together they want to create more accurate figures for the XRP trading volume.

XRP sales increase

Overall, sales of Ripple in the institutional sector seem to have increased. For example, the company stated that it had spent $ 61.93 million in the sector in the first half of 2019. In the second quarter, it was $ 106.87. There has also been an increase in Programmatic Sales. While ripple was $ 107.49 million in Q1, $ 144.64 million in Q2.

As Ripple further states, sales of the XRP tokens are designed to help the market grow more liquid. Finally, it is about providing enough currency units for international payments. Sales are not necessarily dependent on the ripple price. Because in the case of Programmatic Sales, for example, the company states in its report, the trading volume of the sold XRP is always fixed.

After all, the trading volume rose in the second quarter overall, the same applies to the price. At $ 0.40 at the end of the report’s timeline, the ripple price and XRP token increased by a total of 28 percent. The average daily trading volume was also $ 429.51 million.

Bullish views of Ripple

The volatility of XRP ultimately increased compared to the first quarter. In contrast, the correlation to the Bitcoin price has fallen, which has remained roughly the same as the Ether price.

Overall, the ripple coin is currently listed on 130 Bitcoin exchanges. The number of partner transactions also increased overall. According to the market report, the number of customer transactions via xRapid climbed 170 percent in the last quarter.

The ripple market report closes with bullish words. Overall, there was an influx of institutional investors. The prospect of the Bitcoin futures from the house Bakkt provide for a positive market assessment. Also, increasing international regulation argues that the Bitcoin ecosystem as a whole is becoming more mature.

The XRP price is currently trading at $ 0.31. This puts the third-largest cryptocurrency by market capitalization at a 24-hour plus of 2.36 percent.

image via Shutterstock

This article is translated by Google Translate from btc-echo.de

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