Ripple sold $167 million worth of XRP for Q1 2018.

Apr 27, 2018 at 18:38

Ripple Inc. sold $167 million worth of XRP for the first quarter of 2018, an 83 percent improvement over last quarter’s sales and 2,400 better compared during the first quarter of 2017.

However, the company noted that direct sales of XRP totaled $16.6 million, a 17 percent drop compared to the previous quarter while programmatic sales more than doubled from $71.5 million to $151.1 million.

Ripple’s head of corporate communications, Tom Channick, said that they exceeded expectations on XRP’s sales performance.

“As a company, our strategy remains focused on signing up customers to use our technology and moving those customers into production. If we continue to do that, we will fix how money moves around the world,” he expressed.

For the quarter, the total volume of XRP traded globally increased by 68 percent reaching $160 billion. XRP’s clout relative to the total cryptocurrency market also grew in the period with its share of overall market volume growing from 5.3 percent at the end of 2017 to 6.9 percent at the end of March.

“While the total market capitalization of all digital assets was the same on both November 24, 2017 and March 31, 2018, XRP’s share of that market capitalization doubled, rising from 3.56 percent to 7.57 percent – a continuation of a trend that first began in 2017,” Channick’s report further stated.

It can be recalled that XRP’s price took off late last year, rising from less than $0.25 at the beginning of December to a peak of $3.84 in early January 2018.

Among the factors that continuously affects Ripple’s performance is the uncertainty about the future especially questions whether XRP can be considered as a security.

As of this writing XRP is trading at $0.8428 per token.