Start of payments Ripple recorded a sharp decline in XRP sales in the second quarter of 2018, compared to the first three months of the year
. The QR 2018 XRP Markets report, released Tuesday, explains that the company sold $ 73.53 million in XRP, compared to $ 167.7 million in the previous quarter – a 56.15% decline. Similarly, the overall market volume also declined in the second quarter, particularly compared to the fourth quarter of 2017 and the first quarter of 2018.
Within the total $ 73 million, however, direct sales from the branch of Ripple XRP II rose to $ 16.87 million, from $ 16.6 million in the first quarter. Meanwhile, XRP's programmatic sales declined from $ 151.10 million to $ 56.66 million (down 62.5%) and accounted for only 0.125% of the global XRP volume.
Ripple still considers the period the "best quarter ever in the second quarter", at least in terms of the number of registered customers. The fall in prices over the period substantially aligns with the global bear market, he adds.
"The decline in volume and price has been constant in most digital resources, as many moved with a close correlation," said the report, adding:
"The close correlation is indicative of a market that is still in the traders still have to distinguish between the intrinsic values of the most known digital resources: while the industry matures and decides what it deems most useful and valuable, we should expect to see more separation. "
Ripple also addresses the # 39; XRP token holds a pledge, saying that 3 billion were released, but 2.7 billion were returned on deposit during the quarter.
The company said that the positive quarter of Ripple, together with the decline in XRP prices, "underlines the independence of XRP from Ripple".
Ripple, who uses the XRP ledger for some of its payment products, specifically recently rejected allegations that the cryptocurrency is linked to the company. The chief executive Brad Garlinghouse said last month at a conference that the ledger does not depend on the company, coming to the point of saying that XRP is not a security.
Editor's Note: A previous version of this article stated that Ripple had sold $ 75.53 million of XRP. Ripple has subsequently modified his report, updating the figure to 73.53 million dollars.
XRP image through Shutterstock