XRP Quarterly Market Report
Ripple Quarterly Market Report

XRP Quarterly Market Report

By Ghengis | CryptoLowDown | 24 Jan 2020


To ensure transparency, Ripple voluntarily provides a quarterly report on the current state of the XRP market.  I have summarised the key takeaways and provided a link to the full report for those who are interested.

Key takeaways

  • Last quarter, total XRP sales were $13.08 million (USD) vs. $66.24 million the previous quarter. In addition, Ripple continued the pause of programmatic sales, focusing solely on our over-the-counter (OTC) sales with a few strategic partners, who are building XRP utility and liquidity in strategic regions including EMEA and Asia.
  • Total sales (OTC-only, given programmatic pause) ended the quarter at 8bps of CCTT—this is compared to total sales in the previous quarter (OTC + programmatic) of 36bps of CCTT, representing a 78% drop QoQ.
  • CCTT’s reported daily volume for XRP decreased in Q4 from Q3 2019. The average daily volume was reported at $187.34 million in Q4 versus $198.10 million in Q3, and below Q2’s reported $429.51 average daily volume.
  • Based on CCTT’s closing price of XRP, XRP’s volatility of daily returns over Q4 was 3.1%, a drop in volatility from Q3’s 3.6%. XRP’s volatility over the quarter was similar to that of BTC (3.0%), and that of ETH (3.1%).
  • In Q4 2019, three billion XRP were again released out of escrow (one billion each month). Of note, in December of this quarter, Ripple returned a full one billion back to escrow, for the first time ever. In total across the quarter, 2.7 billion XRP were returned and subsequently put into new escrow contracts.
  • In November 2019, Ripple announced that over two dozen companies have become customers of ODL, including MoneyGram, goLance, Viamericas, FlashFX and Interbank Peru. In addition to the USD-MXN and USD-PHP ODL corridors, the company went into production with ODL payments originating from Australia into USD and PHP, and a new production ODL corridor from EUR-USD. Plans for additional corridors across APAC, EMEA and LATAM are in progress for 2020.
  • In 2019, dollar value transacted through ODL increased more than a hundred times between Q1 and Q4, and specifically from Q3 to Q4, by 650%. The number of ODL transactions also increased by 390% from Q3 to Q4, showcasing high customer demand for leveraging digital assets, specifically XRP, in cross-border transactions
  • Ripple made an investment in Bitso, the largest exchange in Mexico, to support RippleNet’s US-MXN corridor by providing critical liquidity for payments. Last year, Ripple launched ODL capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. 
  • Last quarter, Ripple acquired Strata Labs to join Xpring and focus on building ILP infrastructure, making the ILP network more accessible to developers. 
  • The launch of xpring.io, a new website that will serve as a central hub for developers to manage everything they need to integrate payments into their applications.
  • Xpring’s investment in BRD, one of the oldest crypto wallets in the industry. BRD will build on Xpring to support and integrate XRP into the BRD wallet.
  • Xpring’s investment in Towo Labs, which develops open-source software for full support of XRP on hardware wallets. 
  • To date, XRP derivatives have become available on several exchanges such as Binance, Huobi, OkeX, AAX and FTX. Moreover, XRP derivatives are a potentially important tool in order to manage exposures and transactions through Ripple’s cross-border payment solutions, where XRP is leveraged.

To access the full report, click here

You can also see the Second Annual Flywheel Report here.


Ghengis
Ghengis

A recent investor in Crypto Currency but have followed crypto for some years. IT background and keen photographer and healthy LCHF eating advocate. Australian living in Vietnam.


CryptoLowDown
CryptoLowDown

Information, News and thoughts on the Crypto marketplace. I'm not a financial advisor, just a Crypto enthusiast and businessman enabling people in Vietnam to buy and sell crypto. Https://themobilecryptotraders.com

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.