Ripple published its Q2 XRP market report on August 3, and the numbers are much better than those of Q1. The report covers quarterly programmatic and institutional sales updates, as well as updates and commentary on partnerships and developments.
Total XRP institutional direct sales for Q2 2020 total at $32.55 million, which is significantly higher than the $1.75 million of Q1 2020. Programmatic sales had been paused, as the focus was on OTC sales to help build liquidity to RippleNet’s On-Demand Liquidity (ODL) customers.
The report notes that these ODL customers account for 20% of RippleNet volume, indicating adoption by financial institutions.
One of the highlights in the list of updates is a hint that Ripple will focus on infrastructure for the derivatives market,
Ripple hopes to see a continued evolution of XRP infrastructure over the coming months, particularly in the derivatives space, that will further solidify XRP as a top three digital asset, adding to its robustness and liquidity.
On the downsides, XRP average daily volume dropped in Q2 from Q1, down from 322 million to 196 million. Ripple used numbers from a CryptoCompare API for daily TopTier aggregate volume. It only uses data from exchanges on CryptoCompare's TopTier list.
