Ripple is confidently making money. During the third quarter of 2018 Ripple Labs, Inc. gained two times more in sales of XRP coins than within the previous quarter. In a quarterly report the tech entity, headquartered in California, also shared the numbers of total XRP sales in Q3.
3 Million XRP Tokens "Emitted" in Q3
On October 25, Ripple, the business entity which runs the third most valuable cyber-coin on the market XRP, issued a quarterly report. The document states that within Q3 Ripple managed to gain two times more than during Q3 only thanks to XRP sales. In particular, its sales made up $163.33 million. Notably, in Q2 Ripple sold $73.53 million.
As per the report, the revenues from XRP sales were apportioned between Ripple itself and its affiliate XRP II, LLC. If the former gained $65.27 million, the latter saw $98.06 million as the proceeds from sales.
Another stats shows the significance of Ripple’s Q3 returns. Within this period, the report indicates, the entity gained 0.172% of the entire XRP volume traded worldwide, whereas, within the previous quarter, that mark was 0.125%.
The explanation of why this is taking place is yet to be seen.
Interestingly, within the same quarter in 2017 Ripple sold $19.6 million worth of its coins in a direct way. In the meantime, $32.6 million were sold programmatically.
It is noteworthy that in both quarters the business issued the equivalent quantity of tokens — 3 billion of XRP out of escrow each. The entity added that the remaining 400 million coins did not turn to escrow. However, they are used differently to support the entire system.
Also, the organisation stated that the volatility of its coins was predominantly weak in Q3 this year. The increase took place only in the last few weeks of the period, as well as the price also went up.
As of writing, the price of XRP makes up $0,458, which is 0,35% higher than a day ago. Within the past three months, XRP's price made a small leap from $0,27 to $0,59.
It is recalled that at the end of summer, Ripple revealed it had added three virtual money exchanges to xRapid, the entity's payments settlement product. They are Bitso, CoinsPh and Bittrex. The move, Ripple initially declared, was envisioned to help financial entities get an account with the US trading venue.