Technical launch of the distributed register Ripple saw revenues from the sale of the XRP digital asset more than doubled compared to the second quarter of 2018.
In its Q3 2018 XRP Markets Report, released Thursday, Ripple announced it had sold $ 163.33 million in XRP, up from $ 75.53 million in the second quarter. Most of the increase came from institutional direct sales, where the Ripple XRP II subsidiary sold $ 98.06 million, compared to only $ 16.87 in the previous quarter. It saw a much smaller increase in programmatic sales over the quarter, from $ 56.66 million to $ 65.27 million.
That said, Ripple still has to match its first quarter sales of $ 167.7 million.
Year after year, Ripple is still ahead: it sold $ 19.6 million in live XRP and $ 32.6 million in programmatic sales during the third quarter of 2017, when the cryptocurrency market was entering its peak.
In particular, while Ripple has already made mention of new customers in its market reports, to the point of saying it has seen its "best quarter ever in the second quarter" in terms of customer growth, its latest report has not discussed the addition of new customers.
Ripple also announced that it will release 3 billion XRPs from escrow accounts in the last quarter, although 2.6 billion tokens have been placed in new escrow accounts. The remaining 400 million XRP tokens are "used in various ways to support the XRP ecosystem," the report says, although it did not provide any details.
The report added that while the price of XRP decreased for much of the third quarter, making the total market capitalization of the cryptocurrency coincide, occurred around the end of September.
Ripple coin image via Shutterstock