Ripple Q3 2018 Markets Report Reveals outstanding 222% increase in sales

Ripple witnessed the outstanding performance in its third quarter of 2018. The primary focus of ripple is cross-border remittance at fraction of cost and time of traditional mechanisms.

The Sales Growth:

The overall sale of XRP (cryptocurrency) accounted for USD 163 million in Q3 2018 as compared to USD $73.53 million XRP sale in Q2 2018. This is a jump of around 221% as compared to the previous quarter. The overall sale in Q3 includes USD $65.27 million in the actual sale and UD $98.06 million of XRP institutional sale.

PC: snip from https://ripple.com/insights/q3-2018-xrp-markets-report/

PC: snip from https://ripple.com/insights/q3-2018-xrp-markets-report/

As you may be aware, Ripple maintains 55 billion of XRP in their cryptographically-secured escrow account. Ripple claims access to only 13 percent of the total XRP in circulation and released 1 billion of XRP each month from the escrow account. Out of this, USD 400 million XRP used to support XRP ecosystem and remaining USD 2.6 million returned to new escrow contracts.

Ripple Q3 2018 also noted that it downtrend in 2018 crypto market is followed by XRP as well though XRP saw a strong growth in the last two weeks on Q3 2018. The announcement also mentions its Coil project. Coil project is a web monetization product that Ripple started testing in this quarter. Coil project will allow around 200 websites to accept XRP payments. This Coil project along with SWELL conference could bring an upswing in Ripple XRP pricing.

In addition to the SWELL conference, Ripple mentions that the launch of the Coil project could bring in more bullish price swings. Coil, a web monetization product, began testing this quarter. It allows 200 websites to accept XRP payments and could be growing in the future.

The Crypto Market:

• South Korean exchanges emerged as one of the leading trading venues for digital assets. 
• Prime Minister of the Mediterranean island nation, Malta, Dr. Joseph Muscat has called cryptocurrencies “the inevitable future of money.”. Interestingly Malta offers one of the attractiveness of corporate taxes that goes as little as 5 percent.
• Due to this large number of crypto firms including Binance and OKEX Technology 
• This has led to a number of large crypto firms, including Binance and OKEX Technology, moving their operations to Malta. 
• The announcement mentions the ICO report by icorating.com.
• First, ICOs are drying up. The overall ICO fundraising totals are declining. Some of the ICOs are clsoing down due to lack of fundraising opportunties and not meeting their fundraising goals.