Ripple Surges by 31% in Quarterly XRP Sales
Ripple, the San Francisco-established crypto finance firm revealed by a report that they’ve sold $169.42 Million XRP Tokens in the first quarter of 2019. Compared to the fourth quart of 2018, the company has been able to see a surge of 31% in the first quarter of the new year. During December, they ended sales at 129.03 Million XRP.
The report, which was released on April 24th 2019 detailed that 61.93 million of the sold tokens in last this quarter where purchased from direct institutions. The other 107.49 million XRP Token sales were traded between programmatic sale programs.
There’s currently 53.85 Billion XRP token in circulation with Ripple releasing four billion new tokens from their escrow every quarter. That equates to 1 billion tokens released each month. However, this quart there was 2.3 Billion XRP tokens returned back to escrow contracts.
The monthly release of 1 billion XRP Tokens from Ripple is due to the 55 Billion XRP Tokens they escrowed back in 2017. Since then they’ve pledged to release one billion tokens for fifty-five months.
Ripple, in the report released this week, stated: “The escrow consists of independent on ledger escrows that release a total of one billion XRP each month over the next 55 months. This provides an upper limit on the amount of new XRP that can be brought into circulation. The amount of XRP actually released into circulation will likely be much less than this. Any additional XRP leftover each month will be placed into a new escrow to release in the first month in which no escrow currently releases.”
Platform Listings Increasing
This report also detailed that Ripple has had nineteen digital asset exchanges listed XRP Tokens during the first quarter in 2019. This has put Ripple’s XRP Token onto 120 different cryptocurrency exchanges to date.
However, XRP Tokens have been fluctuating in the market and have been struggling to maintain a balanced price point. This week alone the cost post has dropped by 12% on the weekly chat. This will change in time as Ripple released a new XRP Ledger that makes it easier for clients on the 120 exchanges to trade with Ripple’s token.