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The American technology company Ripple reported that revenues from XRP token sales doubled in the third quarter (Q3) compared to the second quarter (Q2) of 2018, according to the company's quarterly report published on October 25.
In the QR XRP report on the markets of Q3 2018, the company reveals that it sold $ 163.33 million of XRP in the third quarter, which is more than double the $ 73.53 million sold in the previous quarter. Sales were distributed between Ripple and its subsidiary XRP II, LLC, which reported $ 65.27 million and $ 98.06 million in revenue respectively.
Sales summary chart. Source: Ripple
The volume of sales in the third quarter represents 0.172% of the total volume of XRP traded globally, while in the second quarter this figure was equal to 0.125. In the third quarter, Ripple distributed 3 billion – 1 billion per month – of XRP by way of escrow, matching the same number released in the second quarter. Ripple states in the report that the remaining 400 million XRPs not returned to the repository are used in various ways to support the ecosystem.
In terms of year-over-year, in the same quarter of 2017 XRP II, LLC directly sold $ 13.6 million in XRP and $ 32.6 million in terms of programming. For the third quarter of last year, sales accounted for 0.20% of the total of $ 16.50 billion traded.
Ripple also notes that the volatility of XRP was weak for much of the third quarter of 2018, with an increase in the last two weeks of the quarter and a rise in prices.
Last month, Ripple announced that it will lead a cryptic startup group called Securing America's Value Coalition Internet to lobby Washington's legislators and regulators. The group aims to mitigate the government's position to encourage innovation and support competition in the global cryptographic markets ecosystem.
In the ambit of the initiative, Ripple will pay the Klein / Johnson Group, a bipartisan lobby group, to help the crypto and blockchain community convey to regulatory authorities that industry needs government support. The group will receive about $ 25,000 a month and 10,000 in XRP from the coalition.
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